The India International Bullion Exchange (IIBX) on January 27, 2024, issued a Circular regarding Onboarding Fees and Annual Fees for Qualified Suppliers
The following has been stated namely: -
• It states that the Onboarding fees shall be collected from applicants whose onboarding will be processed by Exchange with effect from January 01, 2024.
• It states that the annual fees shall be collected from existing Qualified Suppliers onboarded with the Exchange on a pro-rata basis for the Q4 of the current FY 2023-24 and full Annual Fees would be collected from the next FY 2024-25 onwards
• It further states that in case of applications received from prospective Qualified Suppliers during any FY the Annual Fees would initially be collected on a pro-rata basis from the month of onboarding request received for that FY and for subsequent FYs full Annual Fees would be collected.
• The following fee structure for the QS has been stated namely: -
(i) QS (Client) Onboarding Fees – 1000 USD and Annual Fees – 1500 USD
(ii)QS (Special Category Client) Onboarding Fees – 1500 USD and Annual Fees – 3000 USD
[Circular No. 20240117-1]
