Selling SharesYou may sell shares at any time. Your shares will be sold at the Net Asset Value (NAV) next calculated after your properly completed order is received by The Commerce Funds' Transfer Agent. Your order will be processed promptly and you will generally receive the proceeds within one week. Please note: If the Fund has not yet collected payment for the shares you are selling, it may delay sending the proceeds for up to 15 business days. The Commerce Funds has authorized certain dealers to redeem shares of Funds on behalf of their clients. Some of the account features and instructions described in this section may not be applicable to clients of these dealers. How to sell shares: By Mail: Write a letter to us that gives the following information:
By Telephone Requesting Proceeds Be Wired: Requesting Proceeds Be Sent By Check: Important Things To Consider When Contacting The Commerce Funds By Telephone You may call us at 1-800-995-6365 (8 a.m. - 5 p.m. CST). To make additions by phone or request electronic transfers or request electronic redemptions, we need your prior written authorization. If you did not check the box in Section 12 of you original account application, you must send us a letter that gives us this authorization. Telephone purchases will be made at the NAV next determined after the Transfer Agent receives an order in good form. If you should experience difficulty in redeeming your shares by telephone (e.g. because of unusual market activity), we urge you to consider redeeming your shares by mail. You should note that the Transfer Agent may act on a telephone purchase or redemption request from any person representing himself to be you and reasonably believed by the Transfer Agent to be genuine.* Receipt of proceeds from a sale Proceeds will normally be wired the business day after your request to redeem shares is received in good order by the Transfer Agent. Payment by check will ordinarily be made within seven calendar days following redemption or you may have your proceeds sent by federal wire to your financial institution account. Your request to wire proceeds is subject to the financial institution's wire charges. Written requests to sell shares must be signed by each shareholder, including each joint owner. Certain types of redemption requests will need to include a signature guarantee. You may obtain a signature guarantee from most banks or securities dealers. Guarantees from notaries public will not be accepted. Using an automated redemption If you are a shareholder with an account valued at $5,000 or more, you may withdraw amounts in multiples of $100 or more from your account on a monthly, quarterly, semi-annual or annual basis through the Automatic Withdrawal feature. At your option, you may choose to have your automatic withdrawal paid either by check or directly deposited into a financial institution account. Withdrawals paid by check are distributed on or about the 15th of the month. Direct deposits made to a financial institution account can be made on any day of the month. To participate in this feature, supply the necessary information on the account application (link to applications) or in a subsequent written request. This feature may be suspended should the value of your account fall below $500. *Neither The Commerce Funds nor any of its service contractors will be liable for any loss or expense in acting on telephone instructions that are reasonably believed to be genuine. In attempting to confirm that telephone instructions are genuine, The Commerce Funds will use all procedures considered reasonable; the Funds may be liable for any losses if they fail to do so. |
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