exit fees
Cost of leaving
Exit fees are charges imposed when leaving an agreement, investment, or service before a specified time.
Banks charge exit fees for early mortgage payoff, investment funds charge them for early withdrawal, and contracts may include them to discourage premature termination.
The fees compensate the other party for lost expected revenue: The exit fees made switching providers prohibitively expensive.
Agreement's breach cost provision
- termination clauseSection allowing contract dissolution
- early terminationEnding before intended completion
- contract breachFailure to meet agreement
- minimum termLowest required duration
binding agreement · cancellation policy · notice period · cooling-off period · release clause · escape clause · service agreement · lease termination
Act of revealing information
- transparencyState of being see-through
- consumer protectionLaws defending purchasers' interests
- fine printMiniature contractual text
- FINRABrokerage self-regulatory body
Fee for accelerated loan closure
- early withdrawal penaltyFee for accessing funds prematurely
Pooled, managed investment vehicle
- hedge fundPrivate investment partnership
- annuityPeriodic fixed payment
- retirement accountTax-advantaged savings vehicle
- 401k withdrawalAccessing deferred compensation funds
certificate of deposit · fixed deposit · divestment · unit trust · pension withdrawal
penalty clause
Agreement's breach cost provision
- termination clauseSection allowing contract dissolution
- early terminationEnding before intended completion
- contract breachFailure to meet agreement
minimum term · binding agreement · cancellation policy · notice period · cooling-off period · release clause · escape clause · service agreement · lease termination
disclosure
Act of revealing information
- transparencyState of being see-through
- consumer protectionLaws defending purchasers' interests
- fine printMiniature contractual text
FINRA · SEC · fiduciary duty · dispute resolution · ombudsman
prepayment penalty
Fee for accelerated loan closure
- early withdrawal penaltyFee for accessing funds prematurely
mutual fund
Pooled, managed investment vehicle
- hedge fundPrivate investment partnership
- annuityPeriodic fixed payment
- retirement accountTax-advantaged savings vehicle
401k withdrawal · certificate of deposit · fixed deposit · divestment · unit trust · pension withdrawal
exit feesentry fees
Charges for access
enrollment fees · initiation fees · activation fees · setup fees · registration fees
exit feessign-up bonuses
Rewards for registering
welcome bonuses · loyalty rewards · retention bonuses · fee waivers · cashback offers