Array ( [0] => 94 [terminology_id] => 94 [1] => 18 [opportunity_id] => 18 [2] => 48 [sub_opportunity_id] => 48 [3] => Nominal Fee [terminology] => Nominal Fee [4] =>

A small amount paid as a charge for a service is called a nominal fee. The amount can be taken as a flat rate for processing an application form or for a range of costs associated with a transaction.

It can be an amount associated with the insurance policy for faster processing or for taking certain special financial services.

For example- Banks take such amount for fund transfer or for offering higher security protection to your account-related activities, or you pay it as commodities brokerage charges, interbank exchange rate, etc.  
Sometimes, the nominal fee indicates a small payment for a high responsibility job.

Such a fee can be taken by executives working for government institutions where they take a nominal salary for their work, or a CEO may take $1 a year along with bonuses and stock options – which is a kind of adjusted remuneration agreed upon by the involved parties.

Sometimes, court settlement is made from a small amount like $1 to reduce the penalty for one party. 
 

[details] =>

A small amount paid as a charge for a service is called a nominal fee. The amount can be taken as a flat rate for processing an application form or for a range of costs associated with a transaction.

It can be an amount associated with the insurance policy for faster processing or for taking certain special financial services.

For example- Banks take such amount for fund transfer or for offering higher security protection to your account-related activities, or you pay it as commodities brokerage charges, interbank exchange rate, etc.  
Sometimes, the nominal fee indicates a small payment for a high responsibility job.

Such a fee can be taken by executives working for government institutions where they take a nominal salary for their work, or a CEO may take $1 a year along with bonuses and stock options – which is a kind of adjusted remuneration agreed upon by the involved parties.

Sometimes, court settlement is made from a small amount like $1 to reduce the penalty for one party. 
 

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