This section 14 establishes the process for the charging of Agency fees.
Types of Agency Fees
Agency fees are as follows;
- Registration Fee, Head Office Location
- Application Fee, Head Office Location
- Registration Fee, Branch Office Location
- Application Fee, Branch Office Location
- Change of Address/Location, all types of entity
- Change of Name, all types of entity
- Change of Name and Address/Location, all types of entity
- Change of Ownership, all types of entity
- Change of Shareholders, all types of entity
- Annual Fee, Head Office Location
- Annual Fee, Branch Office Location (First 10 locations/codes)
- Annual Fee, Branch Office Location (11-25 locations/codes)
- Annual Fee, Branch Office Location (additional locations/codes beyond 25)
- Reinstatement Fee
- Late Payment Fee
- Interest charges on amount short paid when a payment plan is established
- Minor Error Policy
- Lack of compliance to report any of the changes within 30 days of occurrence.
1 If an Application for Accreditation is rejected the fees related to Registration, Annual and Travel Agency Commissioner fee will be refunded
2 Small–up to USD 200,000 gross annual sales through the BSP
3 Medium–USD 200,001–USD 2,000,000 gross annual sales through the BSP
4 Large–more than USD 2,000,000 gross annual sales through the BSP
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