Storage Charge Calculation
The rates listed are annual charges; however, storage fees will be billed monthly. Your monthly storage charge will be determined by multiplying the Average Market Value of all the Assets held in Your Account during the appropriate month by the applicable storage charge, and the result is then divided by 12 to yield the monthly Storage Charge.
The Average Market Value of the Assets held in your Account during a billing period (whether for a month or less than a month) shall be equal to the total daily value of all precious metal bullion (determined by multiplying by the number of ounces of each metal type by the daily AM London spot price for that metal each day), and dividing that sum by the number of days in the billing period. Asset value for weekends and holidays will be the value calculated for the preceding business day.
A minimum storage charge of $5.00 will be charged for every month, or any portion thereof, in which Assets of any value are held in Your account.