Reservation Fees
When you extend time on an order, Reservation Fees accrue every 24 hours after the order's Grace Period end date. These fees are charged as a percentage of the value of each item on the order times the number of days past the grace period end date. For example:
If an order for 50 devices at a price of $450 per device remains unpaid or unfulfilled 3 days after the grace period expiration and the Reservation Fee is .1%, a fee of $67.50 will be added to the order (50 x $450 x .1% x 3).
Cancellation Fees
When you extend time on an order and later cancel either the entire or part of an order, Cancellation Fees are charged. These fees are charged as a percentage of the value of each item on the order times the number of days past the grace period end date. For example:
Example 1: When an entire order is canceled after the order policy has been agreed to and the grace period has expired, the Cancellation Fee will apply and no Reservation Fee will be charged.
Example 2: When a partial cancellation occurs after the order policy has been agreed to and the grace period has expired, the cancellation fee will be applied for the canceled items and the reservation fee will be charged for the items that remain on the order.
*Note only one fee type will apply per item.