This setting allows you to determine whether a billing definition is billed in arrears or advance.

The options are:

• Arrears: When you select this option, the fee amount is based on the value of the portfolio at the end of the billing cycle.

• Advance: When you select this option, the fee amount is based on the value of the portfolio at the beginning of the billing cycle.

For more information on billing groups, see Understanding Billing Groups.

For more information on billing definitions, see Understanding Billing Definitions.