BAHAMAS Corporate Banking Effective: J u n e 20, 2017 Page 1 of 17
CONTENTS 1 PERSONAL DEPOSIT AND TRANSACTION ACCOUNTS - LOCAL 2 PERSONAL DEPOSIT AND TRANSACTION ACCOUNTS - FOREIGN CURRENCY 3 SUNDRY SERVICES 4 LENDING AND CARD SERVICES 5 CORPORATE SERVICES 6 TRADE SERVICES Page 2 of 17
CORPORATE DEPOSIT AND TRANSACTION ACCOUNTS - LOCAL CURRENCY Business Current Accounts (Product Code 1) Minimum monthly service fee $10.00 0.75 $10.75 Withdrawals / Cheques per entry $1.25 + 0.09 $1.34 + Deposits / Credits per entry $0.75 0.06 $0.81 Business Premium Accounts (Product Code 8) Minimum monthly service fee $10.00 0.75 $10.75 Withdrawals / Cheques per entry $1.25 + 0.07 $1.34 + Deposits / Credits per entry $0.75 0.06 $0.81 Call Accounts (Product Code 174 and 195) Minimum monthly service fee $10.00 0.75 $10.75 1 free, thereafter $0.65 + 0.05 1 free, thereafter $0.70 + Withdrawals / Cheques per entry Deposits / Credits per entry 1 free, thereafter $0.65 0.05 1 free, thereafter $0.70 Fixed Deposit Accounts Transfer to another internal account on maturity No charge No charge Transfer to another institution on maturity Draft/Wire Cost Draft/Wire Cost Early Redemption Fees - Non-redeemable Fixed deposits only : Terms 1K 10K 50K 100K 250K 500K 1M 5M 30 365 days $50 $50 $150 $150 $150 $500 $1,000 $3,000 Notes: 1. * - Product/Service Not offered to new clients 2. Senior Chequing & Savings Accounts - Commission Free Services on Local Mgr Cheques, Standing Orders & Traveller's Cheques 3. All figures are quoted in Bahamas Dollars unless otherwise stated. Page 3 of 17
UNITED STATES DOLLAR (USD) USD Business Current Accounts (Product Code 3) Minimum monthly service fee $10.00 $0.75 $10.75 Withdrawals / Cheques per entry -excludes ABM $0.65 + $0.05 $0.70 + transactions Deposits / Credits per entry $0.65 $0.05 $0.70 USD Business Premium Accounts (Product Code 14) Schedule of Charges CORPORATE DEPOSIT AND TRANSACTION ACCOUNTS - FOREIGN CURRENCY Minimum monthly service fee $10.00 $0.75 $10.75 Withdrawals / Cheques per entry -excludes ABM 2 free, thereafter $0.65 + $0.05 2 free, thereafter $0.70 + transactions Deposits / Credits per entry 2 free, thereafter $0.65 $0.05 2 free, thereafter $0.70 USD Call Accounts (Product Code 192) Minimum monthly service fee $10.00 $0.75 $10.75 Withdrawals / Cheques per entry -excludes ABM 1 free, thereafter $1.00 + $0.08 1 free, thereafter $1.08 + transactions Deposits / Credits per entry 1 free, thereafter $1.00 $0.08 1 free, thereafter $1.08 CANADIAN DOLLAR (CAD) CAD Business Current Accounts (Product Code 2) Minimum monthly service fee $10.00 $0.75 $10.75 Withdrawals / Cheques per entry -excludes ABM $0.65 + $0.05 $0.70 + transactions Deposits / Credits per entry $0.65 $0.05 $0.70 CAD Business Premium Accounts (Product Code 15) Minimum monthly service fee $10.00 0.75 $10.75 Withdrawals / Cheques per entry 2 free, thereafter $0.65 + 0.05 2 free, thereafter $0.70 + Deposits / Credits per entry 2 free, thereafter $0.65 0.05 2 free, thereafter $0.70 CAD Call Accounts (Product Code 220) Minimum monthly service fee $10.00 0.75 $10.75 Withdrawals / Cheques per entry 1 free, thereafter $1.00 + 0.08 2 free, thereafter $1.08 + Deposits / Credits per entry 1 free, thereafter $1.00 0.08 2 free, thereafter $1.08 Page 4 of 17
CORPORATE DEPOSIT AND TRANSACTION ACCOUNTS - FOREIGN CURRENCY POUND STERLING (GBP) GBP Business Current Accounts (Product Code 4) Minimum monthly service fee 10.00 0.75 10.75 Withdrawals / Cheques per entry -excludes ABM 0.65 + 0.05 0.70 + transactions Deposits / Credits per entry 0.65 0.05 0.70 GBP Business Premium Accounts (Product Code 20) Minimum monthly service fee 10.00 0.75 10.75 Withdrawals / Cheques per entry 2 free, thereafter 0.65 + 0.05 2 free, thereafter 0.70 + Deposits / Credits per entry 2 free, thereafter 0.65 0.05 2 free, thereafter 0.70 GBP Call Accounts (Product Code 237) Minimum monthly service fee 10.00 0.75 10.75 Withdrawals / Cheques per entry 1 free, thereafter 1.00 + 0.08 1 free, thereafter 1.08 + Deposits / Credits per entry 1 free, thereafter 1.00 0.08 1 free, thereafter 1.08 EURO DOLLARS (EUR) EUR Business Current Accounts (Product Code 123) Minimum monthly service fee 10.00 0.75 10.00 Withdrawals / Cheques per entry -excludes ABM 0.65 + 0.05 0.70 + transactions Deposits / Credits per entry 0.65 0.05 0.70 EUR Business Premium Accounts (Product Code 73) Minimum monthly service fee 10.00 0.75 10.75 Withdrawals / Cheques per entry 2 free, thereafter 0.65 + 0.05 2 free, thereafter 0.70 + Deposits / Credits per entry 2 free, thereafter 0.65 0.05 2 free, thereafter 0.70 EUR Call Accounts (Product Code 54) Minimum monthly service fee 10.00 0.75 10.75 Withdrawals / Debits - excludes ABM transactions 1 free, thereafter 1.00 + 0.08 1 free, thereafter 1.08 + Deposits / Credits per entry 1 free, thereafter 1.00 0.08 1 free, thereafter 1.08 Notes: 1. * - Product/Service Not offered to new clients 2. Senior Chequing & Savings Accounts - Commission Free Services on Local Mgr Cheques, Standing Orders & Traveller's Cheques 3. All figures are quoted in Bahamas Dollars unless otherwise stated. Page 5 of 17
INTERNET AND TELEPHONE BANKING Monthly Access Fee Schedule of Charges SUNDRY SERVICES (pre -VAT) 7.5% (inc.vat) WIRE TRANSFERS Via Internet Via Branch Via Internet Via Branch Via Internet Via Branch $1 to $9,999.99 $45.00 $65.00 $3.38 $4.88 $48.38 $69.88 $10,000 to $99,999.100 $55.00 $75.00 $4.13 $5.63 $59.13 $80.63 $100,000 and Over $80.00 $115.00 $6.00 $8.63 $86.00 $123.63 Local / Regional Transfers To/From an account held at other local banks via RTGS (local currency transactions only) $5.00 $10.00 $0.38 $0.75 $5.38 $10.75 To an account held at one of our regional branches $30.00 $40.00 $2.25 $3.00 $32.25 $43.00 Incoming Wire Transfers To credit an account at one of our branches To credit an account held at other local banks Payable on presentation of Photo Identification Returned Wire Payments: Incoming and Outgoing Tracers on Wire Transfers $11.25 $20.00 $30.00 USD $30.00 USD $40.00 $0.84 $1.50 $2.25 USD$2.25 USD$3.00 $12.09 $21.50 $32.25 USD $32.25 USD $43.00 Notes: 1. All figures are quoted in local currency unless otherwise stated. 2. RTGS - Real Time Gross Settlement is an initiative of some local Central Banks that allows commercial banks to make (large) inter-bank transactions in realtime in local currency. 3. All wires are sent for Beneficiary to pay Correspondent fees DRAFTS Local Draft (Manager's Cheque) USD Draft Up to $24,999 $25,000 & Over Other Foreign Currency Draft Up to $24,999 $25,000 & Over Tracers on Local Drafts (plus costs) Tracers on Foreign Drafts (plus costs) Stop Payment on Local Drafts (plus costs) Stop Payment on Foreign Drafts (includes foreign bank charges) Duplicate / Replacement Drafts MAIL TRANSFERS Outgoing: Inland Incoming $8.00 $27.94 $72.94 $22.94 $1.69 $25.00 + Stamp Duty $27.94 $2.06 $73.00 + Stamp Duty $10.00 $0.75 $10.75 + Costs $40.00 $3.00 $43 + Costs $25.00 $1.88 $26.88 + Costs USD $62.50 Original Draft Fee $0.60 $8.60 $2.06 $5.44 $30 + Stamp Duty $78.00 + Stamp Duty $4.69 USD $67.19 equivalent Original Draft Fee $4.00 + Draft Charges $0.30 $4.30 + Draft Charges Page 6 of 17
SUNDRY SERVICES (pre -VAT) 7.5% (inc.vat) STANDING ORDERS Set-up Amendment Internal Standing Orders Loan Payments or Safety Deposit Box/Premier Between other accounts External Standing Orders: To transfer funds LOCALLY To transfer funds OVERSEAS $2.00 $0.15 $2.15 $10.00 $0.75 $10.75 $10.00 + draft fee (via draft) $20 (via RTGS $6.00 $0.45 $0.75 $1.50 $6.45 $10.75 + draft fee (via draft) $21.50 (via RTGS $10.00 + draft/wire fee $0.75 $10.75 + draft/wire fee BILL PAYMENT Via the Branch Counter Via the ABM Via the Internet Via Standing Order (Diary Card) -bills sent to us for payment $1.00 $0.08 $1.08 $10.00 + draft fee $0.75 $10.75 + draft fee ACCOUNT TRANSFERS By customer via our ABM, telephone or online Banking By customer via another Bank ABM By us on written/faxed/telephoned instructions CHEQUE RELATED Cheque Books (all styles) Stop payment on a local cheque (all reasons) Stop payment on a foreign cheque (all reasons) Charge backs - (items returned to us by another Local Cheque Foreign Cheque Non-Sufficient Funds (return cheque charge) Postdated cheques Third Party (Non Customers) Cheque Cashing Fee Foreign Cheque Processing Fee $5.00 + $2.00 if advice is $0.38 + 0.15 if advice is $5.38 + $2.15 if advice is required required required $15.00 $1.13 $16.13 Cost + Stamp Duty $25.00 $1.88 $26.88 each $62.50 $4.69 USD $67.19 Equivalent $25.00 $1.88 $26.88 $50.00 $3.75 $53.75 $25.00 $1.88 $26.88 $3.00 $0.23 $3.23 each $5.00 $0.38 $5.38 $5.58 $0.42 $6 Page 7 of 17
FOREIGN CURRENCY EXCHANGE Local currency for foreign currency Foreign currency for local currency (except USD) Schedule of Charges SUNDRY SERVICES (pre -VAT) 7.5% (inc.vat) Exchange + Stamp Duty Exchange + Stamp Duty 1% Min $10.00 0.075% Min $0.75 1.075% Min $10.75 ABM New issue/replacement of expired or stolen card Replacement of lost card **Mini-statement Print ABM Deposits ABM Withdrawals At a CIBC FirstCaribbean ABM At another bank s ABM Point of Sale Purchases **FREE ABM Withdrawals & Ministatements for the following account types: Direct Banking, Bank@Work, Bank@School, Senior Savings, Senior Chequing $5.00 $0.38 $5.38 $1.00 $0.08 $1.08 $2.00 $0.15 $2.15 STATEMENTS Mailed/Regular/diary filled statement Duplicate/Additional/Interim statement (each) Screen print/photocopy (per page) Held for Collection at the Branch (per month) E-statement: Set Up Monthly Subscription Fee (to be collected via standing order) Daily files Weekly Files Monthly Files Transaction Fee ACCOUNT CLOSURE Within 90 days Within 180 days $20.00 $1.50 $21.50 $10.00 $0.75 $10.75 $15.00 $1.13 $16.13 USD50.00 / account USD 3.75 USD 53.75 / account USD20.00 / account USD 1.50 USD 21.50 / account USD15.00 / account USD 1.13 USD 16.13 / account No charge $15.00 $1.13 $16.13 Nil Nil Page 8 of 17
SUNDRY SERVICES (pre -VAT) 7.5% (inc.vat) DORMANCY PROTECTION Initial Notice (when account goes dormant after 2 years of inactivity) Notice thereafter (every year of inactivity) Reactivation Transfer to Central Bank (after 7 years of inactivity) $35.00 $2.63 $37.63 $35.00 $2.63 $37.63 $50.00 $3.75 53.75(per A/C) RESEARCH Where vouchers are held at local branch Same Month (within 30 days of last statement) 1-5 Vouchers / Items Each additional Voucher / Item Up to 3 months 1-5 Vouchers / Items Each additional Voucher / Item Over 3 months and up to 7 Years 1-5 Vouchers / Items Each additional Voucher / Item Searching for or reconstructing customer records $5.25 $0.39 5.64 each $5.00 $0.38 5.38 each $5.25 $0.39 5.64 each $5.00 $0.38 5.38 each $8.50 $0.64 9.14 each $5.00 $0.38 5.38 each $30.00 / Hour Min $30.00 $2.25 / Hour Min $2.25 $32.25 / Hour Min $32.25 SAFETY DEPOSIT BOXES Annual (Rental) Fees Small (1.5 x 5) Medium (2.5 x 5) Large (2.5 x 10) Ex-Large (5 x5) Ex- Large (5 x 10) Ex-Large (10 x 10) Ex-Large (10 x 15) **Refund of Annual Rental Fee (box closed before year end) Other Fees: Number of free visits per month Additional visits per month Forced entry / Drilling of Box Listing of contents Estate opening of box Replacement / Lost key Notification of Safety Deposit arrears $50.00 / $100.00 $3.75/ $7.50 $53.75 / $107.50 $60.00 / $200.00 $4.50/ $15.00 $64.50 / $215.00 $110.00 / $400.00 $8.25/ $30.00 $118.25 / $430.00 $110.00 / $500.00 $8.25/ $37.50 $118.25 / $537.50 Annual fee less outstanding charges & taxes $175.00 $13.13 $188.13 $220.00 $16.50 $236.50 $275.00 $20.63 $295.63 Annual fee less outstanding charges & taxes Unlimited Unlimited each each $100.00 $7.50 $107.50 $100.00 $7.50 $107.50 $25.00 per hour $1.88 $26.88 per hour $25.00 $1.88 $26.88 $25.00 $1.88 $26.88 Page 9 of 17
SUNDRY SERVICES (pre -VAT) 7.5% (inc.vat) SAFEKEEPING AND SECURITIES Annual (Rental) Fees Sealed envelopes Sealed Boxes/Packages Small Medium Large Locked boxes, trunks, etc (per entry) Stocks, debentures, share certificates, Deeds, treasury bills safekeeping Other Fees Number of free visits per month Additional visits per month Clipping coupons Obsolete collateral MISCELLANEOUS SERVICES Audit Certificate Credit Report Local / Overseas Certificate/Confirmation of balance Special Letter to Central Bank Special Presentation Letter to Credit Bureau/Overseas Banks Reference Letters Fax sent / received for a customer - Local Fax sent / received for a customer - Overseas Signature verification Insurance on Registered Mail Photocopying documents Coin Handling (exchanging for Bills) Coin Orders (requesting coin)-same day request Hold Mail/Statements held for collection $50.00 $3.75 $53.75 $75.00 $5.63 $80.63 $100.00 $7.50 $107.50 $150.00 $11.25 $161.25 Same as packages Same as packages $10.00 per item $50.00 per annum $0.75 per item $3.75 per annum $10.75 per item $53.75 per annum 2% of value Min $2 each Nil Nil $5.00 each $0.38 $5.38 each 0.15% of value Min $0.15 each 2.15% of value Min $2.15 each $30.00 per account $2.25 $32.25 per account $30.00 per account $2.25 $32.25 per account $15.00 $1.13 $16.13 $25.00 $1.88 $26.88 $30.00 $2.25 $32.25 $15.00 $1.13 $16.13 $2.00 $0.15 $2.15 $15.00 $1.13 $16.13 $0.30 per $1k $0.30 per $1k $1.00 per sheet $1.08 per sheet $1.08 per sheet 1% Minimum $130 0.08% Minimum $9.75 1.08% Minimum $139.75 1% Minimum $130 0.08% Minimum $9.75 1.08% Minimum $139.75 $15.00 per month $1.13 per month $16.13 per month LARGE CASH DEPOSITS Fee for depositing large cash deposits in-branch Fee for depositing large cash deposits via Night deposits $5 per every $1,000 in cash deposited over USD$5,000 equiv. $0.50 per every $1,000 in cash deposited over USD$10,000 equiv. $0.38 per every $1,000 in cash deposited over USD$5,000 equiv. $0.04 per every $1,000 in cash deposited over USD$10,000 equiv. $5.38 per every $1,000 in cash deposited over USD$5,000 equiv. $0.54 per every $1,000 in cash deposited over USD$10,000 equiv. Notes: 1. * - Product/Service Not offered to new clients 2. All figures are quoted in Bahamas Dollars unless otherwise stated. Page 10 of 17
OVERDRAFTS Set up/annual Renewal Fee: ACA & Temporary 1% - 2.00% Min $100.00 0.075% - 0.15% Min $7.50 1.075% - 2.15% Min $107.50 Overdrafts Excess Overdraft Fee (in addition to 1% Min $30.00 0.075% Min $2.25 1.075% Min $32.25 encroachment rate) Unauthorized Overdraft Fee (in addition to encroachment rate) 2% Min $30.00 0.15% Min $2.25 2.15% Min $32.25 Note: Overdraft interest rates are charged separately. See rate bulletin. CREDIT CARDS See Credit Card Schedule of Charges Schedule of Charges LENDING AND CARD SERVICES VISA DEBIT CARD - LOCAL CURRENCY Annual Fees Fast Card Fees (Courier charges only) USD 45.00 USD 3.38 USD $48.38 equiv ABM Balance Inquiry Fee At a local CIBC FirstCaribbean ABM At another bank s ABM $1.00 $0.08 $1.08 ABM Withdrawals At a local CIBC FirstCaribbean ABM At another local bank s ABM $3.00 $0.23 $3.23 At International/Overseas bank s ABM $3.00 $0.23 $3.23 (Including CIBC FirstCaribbean ABMs in another country) Point of Sale Purchases Replacement & Additional Cards - Classic $5.00 $0.38 $5.38 Replacement & Additional Cards - Platinum $5.00 $0.38 $5.38 Stamp Duty 1.5% POS & ATM (Intl tax &.40c on each local ATM tax) 1.5% POS & ATM (Intl tax &.40c on each local ATM tax) Declined Transactions At a local CIBC FirstCaribbean ABM At another local bank s ABM $1.00 $0.08 $1.08 At International/Overseas bank s ABM (Including CIBC FirstCaribbean ABMs in another country) $1.00 $0.08 $1.08 Page 11 of 17
USD VISA DEBIT CARDS (for non Residents 0nly) - VAT exempt Annual Fees Zero-rated Fast Card Fees (Courier charges only) USD 45.00 Zero-rated USD 45.00 ABM Balance Inquiry Fee At a local CIBC FirstCaribbean ABM Zero-rated At another bank s ABM $0.50 Zero-rated $0.50 ABM Withdrawals At a local CIBC FirstCaribbean ABM Zero-rated At another local bank s ABM $3.00 Zero-rated $3.00 At International/Overseas bank s ABM Zero-rated $3.00 (Including CIBC FirstCaribbean ABMs in another country) $3.00 Point of Sale Purchases Zero-rated Replacement & Additional Cards - Classic $5.00 Zero-rated $5.00 Replacement & Additional Cards - Platinum $10.00 Zero-rated $10.00 Stamp Duty Zero-rated Declined Transactions At a local CIBC FirstCaribbean ABM Zero-rated At another local bank s ABM $1.00 Zero-rated $1.00 At International/Overseas bank s ABM Zero-rated $1.00 (Including CIBC FirstCaribbean ABMs in $1.00 Notes: 1. * - Product/Service Not offered to new clients 2. All figures are quoted in Bahamas Dollars unless otherwise stated. Page 12 of 17
CORPORATE SERVICES E-PAY - (Payroll, Supplier Payments, Direct Debits) Set up Service Fee (monthly) Operational (per file run) $10.00 $0.75 $10.75 Transaction Fee (per credit/payment): Per credit to account at CIBC FirstCaribbean $0.75 $0.06 $0.81 Per credit to account at another bank $1.00 $0.08 $1.08 Late transmission of payroll file $20.00 $1.50 $21.50 E-CHEQUE CARD ACCOUNTS Minimum monthly service fee Withdrawals / Cheques per entry $0.75 $0.06 $0.81 Deposits / Credits per entry $0.75 $0.06 $0.81 MANUAL PAYROLL - PAPER LIST OPTION Set up No charge No charge Service Fee (monthly) No charge No charge Operational Fee (per payroll run) $50.00 $3.75 $53.75 Transaction Fee (per credit/payment): Per credit to account at CIBC FirstCaribbean $3.00 $0.23 $3.23 Per credit to account at another bank $7.50 $0.56 $8.06 Late transmission of payroll file $40.00 $3.00 $43.00 MANUAL PAYROLL - CASH / ENVELOPE OPTION Set up Fee No charge No charge Service Fee (monthly) No charge No charge Operational Fee (per payroll run) $50.00 $3.75 $53.75 Transaction Fee (per credit/payment): Per credit to employee account with CIBC $3.00 $0.23 $3.23 FirstCaribbean Per credit to employee account with Another $5.00 $0.38 $5.38 Bank Late transmission of payroll file $40.00 $3.00 $43.00 OVER-THE-COUNTER PAYROLL Set up Fee Service Fee (monthly) Operational Fee (per payroll run) $80.00 $6.00 $86.00 Transaction Fee (per credit/payment): Per credit to employee account with CIBC $3.00 $0.23 $3.23 FirstCaribbean Per credit to employee account with $7.50 $0.56 $8.06 Another Bank Late transmission of payroll file $100.00 $7.50 $107.50 Page 13 of 17
CORPORATE SERVICES ONLINE BILL PAYMENT (Where a company signs up as a Biller on FirstCaribbean Internet Banking) Charge Per Payment $0.65 $0.05 $0.70 NIGHT WALLET DEPOSITORY Annual (Rental) Fee Disposable Bags $60.00 $4.50 $64.50 Canvas Wallets $75.00 $5.63 $80.63 Short Term Rental (30 days or less) Disposable Bags Canvas Wallets Safekeeping (contents remain in bag): Canvas Bags $150.00 $11.25 $161.25 Disposable Bags $125.00 $9.38 $134.38 Rebates: Canvas Bags Disposable Bags Per Package of 100 Disposable bags Small: 9 x 12 $45.00 $3.38 $48.38 Medium: 12 x 16 $50.00 $3.75 $53.75 Large: 19 x 28 $55.00 $4.13 $59.13 Replacement and Repairs Canvas Bag (all sizes) $100.00 $7.50 $107.50 Canvas Bag Keys $25.00 $1.88 $26.88 Trap Door Key $25.00 $1.88 $26.88 Additional Key $25.00 $1.88 $26.88 SWEEPS and ZBAs Set-upp Fee Standard Set Up $50.00 $3.75 $53.75 Additional Set Up $10.00 $0.75 $10.75 E-STATEMENT PRICING Statement Frequency Via Swift: Daily $50.00 $3.75 $53.75 Monthly $15.00 $1.13 $16.13 Via Email: Daily $50.00 $3.75 $53.75 Weekly $20.00 $1.50 $21.50 Monthly $15.00 $1.13 $16.13 Notes: 1. * - Product/Service Not offered to new clients 2. All figures are quoted in Bahamas Dollars unless otherwise stated. Page 14 of 17
TRADE SERVICES BONDS, INDEMNITIES & GUARANTEES Performance Bonds 1.25% p.a. Min $125.00 0.09% p.a. Min $9.38 1.25% p.a. Min $134.38 Guarantee Bonds 1.25% p.a. Min $125.00 0.09% p.a. Min $9.38 1.25% p.a. Min $134.38 LETTERS OF CREDIT : EXPORT (Inward) CLEAN & DOCUMENTARY Acceptance Advising Credits $75.00 $5.63 $80.63 Amendments to credits $50.00 $3.75 $53.75 1% per month Min $100.00 Confirming irrevocable credits (includes advising fee) Transferable and divisible credits 1% per month Min $50.00 (includes advising fee) Negotiation Sight or Tenor drawings 0.5% Min. $50.00 + interest + exchange 0.075% per month Min $7.50 (includes advising fee) 1.075% per month Min $107.50 (includes advising fee) 0.075% per month Min $3.75 1.075% per month Min $53.75 (includes advising fee) (includes advising fee) VAT exempt 0.5% Min. $50.00 + interest + exchange LETTERS OF CREDIT : IMPORT (Outward) CLEAN & DOCUMENTARY Acceptance Establishment Commission : First Quarter 1.25% Min $35.00 0.094% Min $2.63 1.344% Min $37.63 Each additional month (or part thereof) 0.375% Min $50.00 0.003% Min $3.75 0.378% Min $53.75 Sight to 3 days: First Quarter Value up to $100k - 1.25% Min $25 Value over $100k - 0.5% Min $100 Value up to $100k - 0.094% Min $1.88 Value over $100k - 0.038% Min $7.50 Value up to $100k - 1.344% Min $26.88 Value over $100k - 0.538% Min $107.50 Each additional month (or part thereof) $25.00 $1.88 $26.88 Term Max 1 year Amendments, Extensions and Increases: Amendments $35.00 $2.63 $37.63 Extensions 0.25% per mth Min $25.00 0.019% per mth Min $1.88 0.269% per mth Min $26.88 Increases 1.25% Min $100.00 0.094% Min $7.50 1.344% Min $107.50 Revolving Credits Establishment commission applies Establishment commission + VAT applies Branch or corresponding charges Expenses recovered from client Expenses recovered from client Clean Encashment Credits: Within the Bahamas 1.5%, Min $25.00 0.113%, Min $1.88 1.613%, Min $26.88 With correspondents 1% + $5.00 per drawing Min $25.00 0.075% + $0.38 per drawing Min $1.88 1.075% + $5.38 per drawing Min $26.88 Interest on Drawings: Transit Overdraft Rate Overdraft Rate Clean Encashment Credits No charge Overdraft Rate Page 15 of 17
TRADE SERVICES DOCUMENTARY COLLECTIONS (IMPORT & EXPORT) Outward: Clean: Up to $25,000.00 0.5% Min $25.00 + wire/draft fees 0.0375% Min $1.88 + wire/draft 0.5375% Min $26.88 + wire/draft $25,001 - $100,000 0.25% Min $65.00 + wire/draft fees 0.019% Min $4.88 + wire/draft 0.269% Min $69.88 + wire/draft fees fees $100,001 - $500,000 0.0625% Min $300.00 + wire/draft 0.0047% Min $22.50 + 0.0672% Min $322.50 + wire/draft fees wire/draft fees fees Over $500,000 0.0625% Min $300.00 + wire/draft fees 0.0047% Min $22.50 + wire/draft fees 0.0672% Min $322.50 + wire/draft fees Inward: Interest Charge - Local / Foreign Currency Collection Commission 0.75% Min $25.00 + expenses 0.056% Min $1.88 + expenses 0.806% Min $26.88 + expenses Exchange Charge - Sight or Tenor At prevailing rate At prevailing rate Holding Commission: Up to $10,000 1% Min $25.00 0.075% Min $1.88 1.075% Min $26.88 Over $10,000 0.5% Min $100.00 0.0375% Min $7.50 0.5375% Min $107.50 Delivery Order Charges 1% Min $25.00 0.075% Min $1.88 1.075% Min $26.88 Sight Bills (commencing month after arrival of $25.00 per month or part $1.88 per month or part $26.88 per month or part goods) Matured / Accepted Bills (commencing month after $25.00 per month or part $1.88 per month or part $26.88 per month or part arrival of goods) Guarantees re Missing Bills of Lading 0.75% Min $25.00 0.056% Min $1.88 0.806% Min $26.88 Shipping Guarantees: First 3 months or part thereof 0.5% Min $25.00 0.0375% Min $1.88 0.5375% Min $26.88 Each Additional month 0.5% Min $25.00 0.0375% Min $1.88 0.5375% Min $26.88 Payments to Agents N/a N/a N/a Return (of Documents) Charges $25.00 + holding charges $1.88 + holding charges $26.88 + holding charges Storage of Goods (customs bonds) 1.25% p.a Min $50.00 0.094% p.a Min $3.75 1.344% p.a Min $53.75 Extending due date or altering Tenor of Bill $15.00 $1.13 $16.13 Bills paid in installments $15.00 per installment + holding + $1.13 per installment + holding $16.13 per installment + holding + return charges + return charges return charges Re-shipping of Goods $75.00 + relevant charges $5.63 + relevant charges $80.63 + relevant charges Endorsement of Shipping Documents as Attorney $10.00 $0.75 $10.75 Endorsement of Parcel Post Notice $10.00 $0.75 $10.75 Certificate of Transfer of Title to Goods N/a N/a N/a Statement of Past Due Bills N/a N/a N/a Insurance of Goods $2.00 per $100.00 p.a. payable monthly $0.15 per $100.00 p.a. payable monthly $2.15 per $100.00 p.a. payable monthly Page 16 of 17
TRADE SERVICES DOCUMENTARY COLLECTIONS (IMPORT & EXPORT) Protest Fee $25.00 + legal cost $1.88 $26.88 + legal cost Airmail Charges $2.00 $0.15 $2.15 Bills for Acceptance and Return No charge No charge Extension / Alteration / Amendments of Bill $25.00 $1.88 $26.88 Letters of undertaking N/a N/a Remittance of Proceeds by Cable Refer to Sundry Services section Refer to Sundry Services section Amendments: First Amendments 1.25% Min $35.00 0.094% Min $2.63 1.344% Min $35.00 Each additional amendment $25.00 $1.88 $26.88 Charges for items sent overseas for collection / $1.88 $26.88 $25.00 Negotiation Tracers: First Tracer $35.00 $2.63 $37.63 Each additional tracer No charge No charge Notes: 1. * - Product/Service Not offered to new clients 2. All figures are quoted in Bahamas Dollars unless otherwise stated. Page 17 of 17