termination fee

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Termination Fee

A one-time fee charged to an account holder if he/she transfers or cancels an IRA. The termination fee is levied by the brokerage or bank that manages the IRA and must be spelled out in the agreement that created the account. Some brokerages and banks do not charge a termination fee. See also: Prepayment penalty.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

termination fee

The one-time charge for terminating or transferring an individual retirement account. If a financial institution charges a termination fee, the fee must be spelled out in the original agreement that is signed when the account is opened. Some institutions, particularly banks and savings and loans, may not charge termination fees.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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We've all got experience of being W locked into contracts because of early termination fees and costs.
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Yesterday, Petrolia Drilling ASA said it finally came to an agreement with Maersk Oil & Gas, part of Danish oil and shipping group A P Moller-Maersk A/S (CPH: MAERSK B), which will redeliver Deep Venture against against an early termination fee of USD64m.
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Taxes, fees, early termination fee and other charges apply .
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The filing adds that the limitations of Cingular's system "often defeat the customer's reasonable expectations of coverage and capacity." The customer,' however, may be prevented from canceling Cingular's service and returning the phones by virtue of a $150 (or higher) early termination fee (ETF) and other fees which make cancellation more costly than continuing to use the inadequate service.
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To get out of its deal with CIT, Troutman said it had to pay CIT $1.4 million, including a $900,000 early termination fee, $431,473 in interest on late payments, and other costs.
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A $150 early termination fee and other charges and restrictions may apply.
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The company also paid an early termination fee of EUR0.7m plus costs for legal counsel.
Bonesupport Holding's subsidiary repays outstanding loan from Kreos
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