Contingent Deferred Sales Charge (CDSC)
A charge imposed when redeeming a \"B\" share of a mutual fund. This charge is to compensate the individual or company selling the fund shares. A CDSC can also be call a Contingent Deferred Sales Load, or Back-end Load. The CDSC will usually be lowered gradually over time. Typically the CDSC will be about 3 to 5 percent declining over 3 to7 years. The annual fees associated with a B share typically are higher than an A shares. C shares typically also have a CDSC.