> For the complete documentation index, see [llms.txt](https://docs.obligate.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.obligate.com/fees/fee-schedule.md).

# Fee Schedule

Standard fee schedule for issuers and investors on the Obligate platform. Unless otherwise agreed.

## Onboarding fee

Obligate charges a one-time onboarding fee of CHF 10,000, or equivalent foreign currency, to issuers and investors. 

The onboarding fee is invoiced to the platform user following completion of the onboarding. 

## Issuer fee

Obligate charges fees based on the volume of tokenized securities issued through our platform. Our fees are structured on a sliding scale (see the table below), with the rate decreasing as the volume of securities increases. The fee rate is annualized. In the first year, a minimum fee of 7,500 USD/EUR applies, payable in stablecoins denominated in the respective currency.

<table data-full-width="false"><thead><tr><th>Issuance size</th><th>1st year (p.a.)</th><th>2nd year (p.a.)</th><th>3rd year (p.a.)</th><th>4th year (p.a.)</th><th>As of 5th year (p.a.)</th></tr></thead><tbody><tr><td>0 - 25 million</td><td>75.0 b.p.</td><td>52.5 b.p.</td><td>36.8 b.p.</td><td>25.7 b.p.</td><td>18.0 b.p.</td></tr><tr><td>25 - 50 million</td><td>65.0 b.p.</td><td>45.5 b.p.</td><td>31.9 b.p.</td><td>22.3 b.p.</td><td>15.6 b.p.</td></tr><tr><td>50 - 75 million</td><td>55.0 b.p.</td><td>38.5 b.p.</td><td>27.0 b.p.</td><td>18.9 b.p.</td><td>13.2 b.p.</td></tr><tr><td>75 - 100 million</td><td>45.0 b.p.</td><td>31.5 b.p.</td><td>22.1 b.p.</td><td>15.4 b.p.</td><td>10.8 b.p.</td></tr><tr><td>100+ million</td><td>35.0 b.p. </td><td>24.5 b.p.</td><td>17.2 b.p.</td><td>12.0 b.p.</td><td>8.4 b.p.</td></tr><tr><td>Minimum fee</td><td>7,500 USD / EUR</td><td></td><td></td><td></td><td></td></tr></tbody></table>

Issuer fees are due, and invoiced, at the time the issuer claims the subscription proceeds on a successful issuance. They will be deducted from the subscription proceeds. Issuers can see the estimated fees during the issuance creation process. No fees are charged for unsuccessful book-building processes.&#x20;

## Collateral fee

In addition to the issuer fee, Obligate also charges issuers fees for secured issuances. Our fees are structured on a sliding scale (see the table below), with the rate decreasing as the volume of securities increases. The fee rate is annualized. In the first year, a minimum fee of 5,000 USD/EUR applies, payable in stablecoins denominated in the respective currency.

<table data-full-width="false"><thead><tr><th>Issuance size</th><th>1st year (p.a.)</th><th>2nd year (p.a.)</th><th>3rd year (p.a.)</th><th>4th year (p.a.)</th><th>As of 5th year (p.a.)</th></tr></thead><tbody><tr><td>0 - 25 million</td><td>30.0 b.p.</td><td>27.0 b.p.</td><td>24.3 b.p.</td><td>21.9 b.p.</td><td>19.7 b.p.</td></tr><tr><td>25 - 50 million</td><td>20.0 b.p.</td><td>18.0 b.p.</td><td>16.2 b.p.</td><td>14.6 b.p.</td><td>13.1 b.p.</td></tr><tr><td>50 - 75 million</td><td>18.0 b.p.</td><td>16.2 b.p.</td><td>14.6 b.p.</td><td>13.1 b.p.</td><td>11.8 b.p.</td></tr><tr><td>75 - 100 million</td><td>10.0 b.p.</td><td>9.0 b.p.</td><td>8.1 b.p.</td><td>7.3 b.p.</td><td>6.6 b.p.</td></tr><tr><td>100+ million</td><td>7.0 b.p.</td><td>6.3 b.p.</td><td>5.7 b.p.</td><td>5.1 b.p.</td><td>4.6 b.p.</td></tr><tr><td>Minimum fee</td><td>5,000 USD / EUR</td><td></td><td></td><td></td><td></td></tr></tbody></table>

Collateral fees are due, and invoiced, at the time the issuer claims the subscription proceeds on a successful issuance. They will be deducted from the subscription proceeds. Issuers can see the estimated fees during the issuance creation process. No fees are charged for unsuccessful book-building processes.&#x20;

## Investor fee

Obligate charges fees based on the volume of tokenized securities issued through our platform. Our fees are structured on a sliding scale (see the table below), with the rate decreasing as the volume of securities increases. In the first year, a minimum fee of 50 USD/EUR applies, payable in stablecoins denominated in the respective currency.

<table data-full-width="false"><thead><tr><th>Issuance size</th><th>1st year (p.a.)</th><th>2nd year (p.a.)</th><th>3rd year (p.a.)</th><th>4th year (p.a.)</th><th>As of 5th year (p.a.)</th></tr></thead><tbody><tr><td>0 - 25 million</td><td>50.0 b.p.</td><td>45.0 b.p.</td><td>40.5 b.p.</td><td>36.5 b.p.</td><td>32.8 b.p.</td></tr><tr><td>25 - 50 million</td><td>40.0 b.p.</td><td>36.0 b.p.</td><td>32.4 b.p.</td><td>29.2 b.p.</td><td>26.2 b.p.</td></tr><tr><td>50 - 75 million</td><td>30.0 b.p.</td><td>27.0 b.p.</td><td>24.3 b.p.</td><td>21.9 b.p.</td><td>19.7 b.p.</td></tr><tr><td>75 - 100 million</td><td>20.0 b.p.</td><td>18.0 b.p.</td><td>16.2 b.p.</td><td>14.6 b.p.</td><td>13.1 b.p.</td></tr><tr><td>100+ million</td><td>10.0 b.p. </td><td>9.0 b.p.</td><td>8.1 b.p.</td><td>7.3 b.p.</td><td>6.6 b.p.</td></tr><tr><td>Minimum fee</td><td>50 USD / EUR</td><td></td><td></td><td></td><td></td></tr></tbody></table>

Investor fees start accruing upon successful delivery of the token to the investor's wallet. Accrued fees are invoiced quarterly, covering all issuances the investor subscribed for during that period. Fees are invoiced in the currency of the issuance. No fees are charged for unsuccessful book-building processes.&#x20;