COMPULSORY FEES
Membership Fee
A one off fee of $595.00 cash (GST inclusive) is payable to the National Agent on joining Empire Trade and must accompany the Application for Membership. Payment can be made by cash, cheque, bank transfer, or credit card.
Goods and Services Service Fee (Transaction Fee)
A cash fee equal to 7.99% (incl GST) of the Trade component of any purchase transaction on goods and services is payable to the National Agent for amounts upto and including T$2999, this is payable within 7 days of the completion of the transaction in whole or in part. All transactions of 3,000.00 trade dollars and above require the submission of an Intention to Trade (ITT) Agreement (see below) and payment of fees in cleared funds at least 24 hours prior to finalisation of the transaction.
As of 1/12/2011 the Service Fee of 7.99% will be payable on earnings and not on purchases. Note members with a current account balance in credit prior to 1/12/2011 will also incur the service fee on this balance at the time of purchasing until these funds are spent.
Real Estate/Contractual Transaction Fee
A cash transaction fee equal to 5.5% (incl GST) of the Empire Trade component of any Real Estate or contractual transaction is payable to the National Agent.
Administration Fee
A monthly cash fee of $16.50 (GST incl) per membership account is payable to the National Agent.As of the 1/06/2012 Administration Fee will be charge annually on the 28th June. An annual cash Administration Fee of $199.00 per account for Standard Membership and $149 per account for Elite Membership.
INCURRED FEES
Stationery Fee
A cash fee of $5.50 (incl GST) will be payable monthly to the national agent, unless national agent receives notification that the member will obtain their statement of account and updated Empire Trade Membership Directory via online facilities. Provision is made for members to access this information free of charge via online computers available for member use in Empire Trade offices.
Goods and Services Facility Administration Fee
A 1% (plus GST) facility administration cash fee will be payable to the national agent for a goods and services Facility Application for $T20,000 and over. The approved facility amount will not be deposited to the member's account until cleared funds in payment of the Facility Administration Fee are received by the National Agent.
Real Estate Line of Credit
The company shall, as its discretion, consider lines of credit for all financial members with regards to their company or business. The member may request this line of credit either from 1 of 2 facilities. Click Here for more details
International Transaction Fee
An additional 1% (plus GST) cash fee will be payable to Administrator on the Trade dollar component of all international transactions. This fee covers costs and charges associated with an international transaction and is collected by the National Agent on behalf of the Administrator.
Late Payment Fee
As of 1/12/2011 a $19 cash fee will be applicable for members who are over 30 days overdue in paying fees on their account. At its discretion Empire Trade may waive this fee if the member contacts the accounts department and pays their account in full, and/or goes on a direct debit payment facility. This fee can and will be charged on a monthly basis whilst the account remains overdue/ not paid in full.
Incentives, Rewards and Bonuses
Empire Trade can at its discretion, issue members with Empire Trade Dollars as incentives, rewards and bonuses from time to time. These incentives, rewards and bonuses will incur standard Service Fees.
Bad Debt Reserve Contribution
A Bad Debt Reserve contribution of forty-eight trade dollars ($48) per annum will be deducted from a trading member’s account to fund bad debts in Trade Credits within the Exchange.
Interest
From March 2012 all Empire Trade members will be paid interest on there accounts in the form of Empire Trade Dollars. This interest is calculated a 6.99% per Annum paid monthly and paid to all members with payments been made on 28th of the month. It is noted that the deposit of such interest into members account will incurr the standard service fee.
Such interest, is for the benefit of the members working towards a goal such as Real Estate investments. Further benefits include watching their Empire account grow and further spending opportunites.