5. Payment of Invoices
Effective from Dec 02 2021 - Dec 11 2021
To view other versions open the versions tab on the right
| Invoices will be issued by SAMA to Participants in respect of AFAQ as follows: | ||
| • | Transaction Fees will be invoiced to Participants on a monthly basis. | |
| • | Participant Membership Fees will be issued to Participants yearly in advance. During the 6 month discount period set out in Section 3.2 above, invoices for Participant Membership Fees will be issued at the time of joining. | |
| • | Exceptional & Penalty Fees will be charged to Participants on a case-by-case basis. | |
| All fees are payable within 10 business days of receipt of the relevant invoice by the Participant. | ||
| If the designated fee is not paid within 10 business days, A penalty fee of SAR 1,000.00 will be charged for late payment. | ||