According to the described process, the distributor or financial intermediary is responsible for verifying KYC requirements, the minimum subscription or redemption amount as specified in the prospectus, and eligibility for the relevant share class before transmitting the order to the custodian account keeper. This step is crucial for ensuring that the investor meets regulatory requirements.

Swing pricing is a mechanism that adjusts the NAV so that transaction costs are borne by entering or exiting unitholders. This protects remaining unitholders from the dilution effect. The swing factor, generally between 0.5% and 2%, incorporates various costs such as brokerage fees and taxes. This mechanism is essential for maintaining fund stability.

The centralization time (cut-off) is stated in the prospectus and Key Information Document. It determines whether an order is executed at the day's NAV or carried forward to the next NAV. Although this time may vary, it is generally set at 11:00 AM or 12:00 PM depending on the CIU. This information is essential for investors and financial intermediaries to meet deadlines.

Article L.214-8-4 of the Code monétaire et financier sets the maximum settlement period at 5 business days for a redemption order. This period may exceptionally be extended to 30 days under special circumstances. This information is crucial for investors to plan their cash flows accordingly.

In reality, the management company may exceptionally decide to suspend subscriptions and redemptions in accordance with Articles L.214-8-7 and L.214-24-41 of the Code monétaire et financier. This decision must be taken to protect unitholders' interests or when a reliable NAV cannot be calculated. The AMF must be immediately notified, as must unitholders by any means. This distinction is important for understanding the respective roles of the parties involved.

The subscription price is actually the NAV plus the subscription fee payable to the CIU. This distinction is important because it directly impacts the cost for the investor when purchasing units. The subscription fee is a key element in assessing total investment cost.

Redemption gating is a measure provided for in the prospectus in accordance with AMF Instruction DOC-2017-05. It limits redemptions honored on a given net asset value (NAV) to a percentage of net assets (e.g., 10%). Orders are proportionally reduced and the balance is carried forward to the next NAV. This measure aims to protect remaining unitholders by preventing excessive dilution of net assets.

Tools such as redemption gating and swing pricing are specifically used to manage redemptions in order to protect remaining unitholders. In contrast, the suspension of subscriptions and redemptions may apply to both under exceptional circumstances. These measures aim to ensure stability and investor protection.