# Fees

We charge fees based on the volume of securities (i.e total issuance amount) that are 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.

For the first year, a minimal fee of 50 USDC/EUROe is applicable.

<table data-full-width="false"><thead><tr><th width="168">Issuance size</th><th width="181">1st Year fee (p.a.)</th><th width="132">2nd Year fee (p.a.)</th><th width="128">3rd Year fee (p.a.)</th><th width="127">4th Year fee (p.a.)</th><th width="129">5th Year fee (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>Min fee</td><td>50 USDC/EUROe</td><td></td><td></td><td></td><td></td></tr></tbody></table>

### Fee claiming process

Fees are accrued at the successful delivery of eNotes to the investor's wallet. You can see the indication of fees during the subscription process. The invoice will be sent to you at the end of the month for all the issuances you participated in. Payment options include both blockchain transactions and regular bank transfers.

There are no fees incurred for unsuccessful book-building programs.


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