Product

This page contains all relevant terminology regarding Products.

Product

Definition

A Product contains the specification of what is offered to Investors as a set of Restrictions and Obligations. It can best be compared to the terms and conditions of other service-supplying companies.

Relevant endpoints

• GET /Products/{labelId}
• GET /ProductGetById/{labelId}/{productId}
• POST /ProductAdd
• PUT /ProductUpdate
• DELETE /ProductDeleteById/{labelId}/{productId}

Restriction

Definition

A Restriction is a rule that reduces a set of possibilities. Examples of Restrictions are:

• You must be at least 30 years of age.
• You can only invest in low-risk assets.
• Only LegalEntities are eligible for a certain Product.

Obligation

Definition

An Obligation is a rule that must be tested to see whether it has been met. An example of an Obligation is that an Investor must invest at least EUR 500,00 each time.

Contract

Definition

In a Contract is defined which Product has been selected for an InvestorAccount. Each of the properties of a Product are filled in in a Contract. The Contract can also contain extra Restrictions and Obligations that are specific to an InvestorAccount.

Relevant endpoints

• GET /Contracts/{labelId}
• GET /ContractGetById/{labelId}/{contractId}
• POST /v2/ContractAdd
• PUT /ContractUpdate
• DELETE /ContractDeleteById/{labelId}/{contractId}

CostPlan

Definition

Each Contract contains a CostPlan in which one or more CostComponents are specified.

Relevant endpoints

• GET /CostPlans/{labelId}
• GET /CostPlanGetById/{labelId}/{costPlanId}
• POST /CostPlanAdd
• PUT /CostPlanUpdate

CostComponent

Definition

In a CostComponent is specified for one specific OrderType (e.g., a ‘Buy’ or a ‘ReInvestment’) what performing an Order with this OrderType will cost the Investor. In a single CostComponent is specified one of the following:

• A fixed cost per Order.
• A percentage cost of the total value of an Order (either a fixed percentage or a sliding scale).
• A minimum cost amount (in case of a percentage cost).
• A maximum cost amount (in case of a percentage cost).

This implies that one specific OrderType can have multiple CostComponents related to it.

OverridingCostPlan

Definition

It is possible for a Product to contain OverridingCostPlans. This happens when the costs of investing in a specific Asset are different from the costs specified in the Product’s CostPlan. If an InvestorAccount has an OverridingCostPlan, this will override the Product CostPlans.

FiscalPolicy

Definition

Either ‘BOX1’ or ‘BOX3’. Employers can open a BOX 1 InvestorAccount for their employees or Investors can do it for themselves. This is a specific type of Product specifically meant to build up pension benefits. The funds for this type of Product come directly from the Employer and/or from the Investor’s salary and can be invested tax free. Taxes will apply only upon receiving the pension benefits. In return for the investing being tax free, the employee is usually not able to withdraw any funds from the InvestorAccount before their retirement. With a BOX 3 InvestorAccount on the other hand, taxes do apply and Investors are able to freely withdraw funds.

CreditLimit

Definition

It is allowed for an Investor’s main Cash Ledger to have a balance that is lower than zero. The CreditLimit specifies how much lower than zero it is allowed to be.