Olcott breaks down its fees in a very clear and concise manner. There are three types of fees:
The official fees are established by the individual jurisdictions and are subject to change. Payments to international IP offices are made in the currency of the country. Olcott negotiates the best possible rate for its clients for currency conversions based on the current mid-market exchange rate. As exchange rates fluctuate however, the price may also change slightly from payment period to payment period.
Country Fees (i.e., local agent fee)
There are several countries where Olcott can handle direct payments with IP offices. Some countries require that official fees be paid through a local agent or representative and not directly to the IP office. Olcott has long-term relationships established with local agents in these countries, and passes these cost-savings on to its clients.
Olcott also charges a service fee for the management of your IP renewals which is based on the size of the portfolio and the scope of services required. Additional fees are charged for services outside the realm of typical renewal services and/or for payments made during grace periods. There is no fee charged for Olcott’s docketing of client portfolios. The Olcott service fee per renewal is a flat fee and does not increase with an aging annuity year.