Fee for Assessing Your Application
During the course of a discovery call with potential customers, we will ask them to fill out a detailed application form (for the specific product/service they are opting for). This application form would be the basis for establishing a relationship with this inbound potential customer.
For all inbound client queries, we charge an application assessment fee. This is the fee that needs to be paid after you have submitted your application to us and would like us to assess if we can successfully find you a solution provider or not.
Some of the other charges which are refundable (read: refund policy).
The application assessment fee is non-refundable and is pre-paid.
The application fee does not guarantee any results or outcomes. It is simply the charge for the time we invest in:
- reviewing your application
- reviewing your supplied flow of funds and transaction set
- examining your source of funds
- examining any additional allied/ancillary information you might have submitted
- any Q&A we may do via email &/or conference calls to discuss your submitted information
- reviewing it internally
- discussing it externally with specialist partners, and
- pre-screening it through various service (solution) providers.
In the end, we will collectively assign an internal probability score to assess if we can even provide you with a solution to your query or not, or if there need to be changes made (which may or may not be acceptable to you) before a solution provider would be willing to take on your business.
Does the application assessment include a legal opinion?
No. We are not a law firm. We cannot and do not provide any legal opinions with regards to your application. Please seek licensed legal representation to do so.
Why do we ask for an application assessment fee?
There are four basic drivers behind an application assessment fee:
- Our time. If we started doing a free assessment for everyone else (which we have done in the past), very little time is left for paid clients. Hence, we now charge for it.
- To ward off those simply intent on obtaining free advice without consideration or any intent of continuing forward with their project.
- To make sure potential customers understand not everything is for free, like endless telephone calls and the seemingly never-ending barrage of questions, which once answered, the potential customer simply disappears, not even a courtesy “thanks, but no thanks’
- To ward off scammers.
Is the application fee adjustable against other fees?
Yes. The application fee can only be credited against the last payment installment (if you have signed up a referral agreement), else it is a stand-alone charge and thus cannot be credited or adjusted with anything else.
In order for the application assessment fees to be credited/adjusted against a referral agreement, the referral agreement must be signed and 1st installment paid within calendar 30 days from the date the assessment fees was paid.
Past the 30 days period, no credit/adjustments will be made.
If you don’t guarantee any success, then why should we pay for it?
Fair point. But we have already tried this approach for the last 5+ years. We have done over 5,000+ calls and 1,000s of application forms have been assessed. Now, it is time to change how we allocate our limited working hours, and we choose to bill for time & material.
The outcome of your application is not in our hands but in yours.
Some of the factors that decide the outcome of your application are:
- What you are asking for
- the price point you are looking at
- the applicable laws
- the geographic areas you want to work in
- the type of product/service you are offering
- the capacity (legal, regulatory, risk, business) of the solution providers for taking on your business
Thank you for understanding. If you have any questions &/or comments, please do not hesitate to contact us.
- If you have signed up for a lower priced referral fee package and want to upgrade to a higher priced package within one year of your first signup, you will have to bear the cost of the difference.
- All of the coverages above are for online only. Authorized delegate status (or agent) status is not awarded, unless otherwise specified. Physical point of presence for a business &/or signed up agent is not permitted.
- All communication and delivery is in English only.
- Unless explictly mentioned, no Value Added Tax, State Tax, Federal Tax or other applicable taxes are included in the pricing mentioned.
- If you have signed up for a lower priced referral fee package and want to upgrade to a higher priced package within one year of your first signup, you will have to bear the cost of the difference. Advisory role is limited to principal only. Consulting/Retainer roles are limited to team which can include principal.
- Price do not include Value Added Tax (VAT). Please inquire if applicable.
- HMRC (Her Majesty’s Revenue & Customs) charges not included
- FCA (Financial Conduct Authority) charges not included.
- State tax not included.