Section 870-RICR-30-00-8.8 - FeesA. An Applicant shall be charged a one-time, non-refundable Application fee by the Corporation of five thousand dollars ($5,000) and may be charged fees for ongoing administration in relation to an approved Application and a termination fee upon exit from the Program. The Corporation shall publish a fee schedule, as amended by the Corporation from time to time, on its website.B. An Applicant will be required to make advance payment to the Corporation of the full amount of direct fees and costs paid to third-parties by the Corporation in relation to the consideration for approval of the Applicant's Application.C. An Applicant shall make payment of all fees and costs within thirty (30) days of a request from the Corporation. If an Applicant fails to make timely payment after request by the Corporation, the Corporation may send a notice of default to the Applicant and provide the Applicant an additional thirty (30) days for payment of such fees and costs. If an Applicant fails to timely make payment of such fees and costs after a notice of default under this section, the Corporation shall be entitled to payment from the Bond or other approved surety for such amounts together with interest thereon from the date of the initial request for payment from the Corporation to the Applicant in the amount of twelve percent (12%) per annum.D. An Application shall be deemed incomplete if any fee or cost for which the Corporation has made a request for payment to the Applicant remains unpaid.870 R.I. Code R. 870-RICR-30-00-8.8
Adopted effective 9/27/2019
Amended effective 3/24/2020