# Commercial terms
Last updated: 02/08/2023
Current version effective from: 02/08/2023
Page contents
# 1 Term of the agreement
1.1 This Agreement shall commence on the Effective Date and continue for an Initial Term of 1 year. Thereafter the Agreement shall continue for successive periods equal to the Initial Term ("Additional Term(s)") unless terminated earlier in accordance with this Agreement.
1.2 Either Party may terminate this Agreement without cause by giving the other not less than three (3) months’ written notice prior to the expiry of the Initial Term or then current Additional Term. Further, each of the Parties shall be entitled to at any time for convenience terminate this Agreement by giving Signicat not less than six (6) months’ written notice.
# 2 Payment
2.1 The exact payable fees, including Subscription Fees and Transaction Fees depend on the selected suite of products, and will be presented separately in an order summary document.
2.2 The fees will not change during the first 6 months after the Effective Date of the Agreement. Prices may thereafter be changed with 1 months’ notice. However, the fees may be index regulated yearly without notice in accordance with the Statistics Norway’s (SSB) earnings index for the Information and communication industry plus an additional two percentage points. Furthermore, all fees related to third party costs, for example transaction costs paid to Identity Issuers, may be changed without any notice according to the pricing policy of the respective third party. The same applies for fees related to Third Party Providers.
2.3 The first monthly subscription fee (Subscription Fee) is payable as from the Effective Date. The Subscription Fee is thereafter invoiced at the start of each month.
2.4 The Transaction Fee(s) includes third party transaction fees unless the Customer has a direct contractual relationship with the third party in question. The Transaction Fee is invoiced at the start of each month based on the actual number of Transactions in the previous month.