Dear Valued IR, Please be informed that effective Sunday, 1 December 2013, 00:01 HKST, inactive IRs will be charged a monthly maintenance fee for Q Accounts. A monthly fee of USD 20 will be deducted from the inactive IR’s Q Account on the first day of every month. Please note that this change won’t affect active IRs. What does ‘Inactive IR’ mean? According to the new Policies and Procedures, “Inactive IR” means QNET Independent Representative who failed to renew his/her Representativeship for at least a period of twelve (12) months after the last Anniversary Date. Please refer to the full P&P Clause below: 4.04 Maintenance of Inactive IR a. Once a non-renewed IR becomes an Inactive IR as defined in clause 2 above, QNET reserves the right to charge a reasonable fee to maintain the Inactive IR and the maintenance fee shall be advised by QNET through its’ Q Account system. b. The maintenance fee will be charged regardless of the amount of balance or credit left in the Inactive IR’s Q Account until the said Q Account is zeroed. c. The maintenance fees will be deducted from any balance standing in the relevant Inactive IR’s Q Account and will be shown in the relevant Inactive IR’s Q Account report/statement. d. QNET reserves the right to amend the Inactive IR’s maintenance fees from time to time and at any time without prior notice to the IRs. e. IRs will be advised about any imminent risk of any Inactive IR’s maintenance fees being charged in their Q Account report/statement so that they can take corrective action. We thank you for your understanding. For further enquiries, please email us at [email protected]. In service, QNET
Posted on: Thu, 28 Nov 2013 12:58:49 +0000
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