« Back to Glossary Index
Annual Fee payable by the Licensor at the start of the agreement. Exclusive of VAT.
Annual escrow fees may vary annually but will not be increased annually by more than 4% above the base rate of Barclays Bank PLC. Registration by a Registered End User runs for an initial 12 month period from the date of registration and automatically renews after the initial 12 month period but is terminable thereafter by 3 months notice served in writing at any time. For the avoidance of doubt, refunds for annual fees paid in advance are not given as the corresponding costs incurred by the Escrow Agent are committed to at the commencement of every calendar year.
« Back to Glossary Index
