You can terminate your prepayment account when all trademark records that are linked to the account have expired, have been flagged as 'Invalid' or 'Deactivated' or have been transferred. If the account is terminated, the Trademark Clearinghouse will issue a credit note to the Trademark Holder or Trademark Agent for the funds that are still available on its Prepayment Account and depending on the account rights, the funds will be transferred back to the Trademark Holder’s or Trademark Agent’s bank account. All transaction and potential currency conversion costs will be borne by the Trademark Holder or Trademark Agent. The credit notes will be compliant with the Luxembourg VAT requirements (a.o. make a reference to the initial invoice) and credit the VAT treatment applied on the initial invoice.
