Cost of Membership
Union membership fees for Trading and Affiliate Members are based on the turnover, operating expenses or assets of the previous calendar year, whichever applies. The basis for calculation of the fee and the formula used to calculate membership fees are as shown in the tables below.
Basis for calculation:
Trading Members: |
Turn-over previous calendar year (annual sales volume net of all discounts and sales taxes) |
For-profit Affiliate Members: |
Turn-over previous calendar year (annual sales volume net of all discounts and sales taxes) |
Non-for-profit Affiliate Members: |
Annual operating expenditure previous calendar year |
Financial institutions |
Total assets pervious calendar year. |
Formulae:
Basis for calculation |
Trading Members Annual fee |
Financial Organisation Affiliate Member Annual Fee |
Other Affiliate Members Annual fee |
|---|---|---|---|
< US$1 million |
US$0.001 x turnover. Minimum 50 US$. |
US$ 0.005 x assets. Minimum 50 US$. |
US$0.005 x relevant basis for calculation. Minimum 50 USU$. |
US$1-100 million |
US$1,000 for the 1st million US$ in turn-over + U$200 for every extra million turnover |
US$ 500 for the 1st million of assets + US$ 50 for every extra million of assets. |
US$ 500 for the 1st million of relevant basis for calculation + US$ 50 for every extra million of relevant basis for calculation. Maximum of 5,000 US$. |
>US$100 million |
US$22,000 for the 1st 100 million US$ turn-over + U$200 for every extra 25 million turnover. The maximum annual fee is US$50,000. |
US$ 500 for the 1st million of assets + US$ 50 for every extra million of assets. Maximum of US$ 10,000. |
US$ 5,000 |
Individual Members will be charged a flat fee of US$50 per year.