What is the difference between deposit and fees for nominee director service in Singapore?

Difference between fees and deposit for nominee director service in Singapore?

What is the difference between refundable security deposit and fees for nominee director service in Singapore?

difference between fees and refundable security deposit for nominee director service in Singapore?

What is the difference between refundable security deposit and fees for Singapore nominee director service?

What is the difference between fees and refundable security deposit for Singapore nominee director service?

Is there any difference of fees and refundable security deposit for Singapore nominee director service?

Fees vs refundable security deposit for Singapore nominee director service.

Refundable security deposit vs fees for Singapore nominee director service.

ND Fees vs refundable security deposit for nominee director service.

Refundable security deposit vs ND fees for nominee director service.

• The term “fees” itself denotes that it is a fee for providing service whereas the term “deposit” means refundable amount or holding amount for guarantee.
• Hence, the fee is collected for providing the nominee director service.
• The refundable security deposit is subject to refund when the ND steps down as the local resident director of the company.
• The fee is not subject to refundable normally unless the pro-rata basis is applicable as per the ND agreement whereas the deposit is either subject to refund or forfeiture due to breach of ND agreement.