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Account Management Agreement
I need an Account Management Agreement governed by German law for a mid-sized technology company that will be using multiple corporate accounts, including foreign currency accounts and online banking services, with the agreement to take effect from March 1, 2025.
1. Parties: Identification of the financial institution and the client, including their legal details and addresses
2. Background: Context of the agreement and brief description of the services to be provided
3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules of interpretation
4. Scope of Services: Detailed description of the account management services to be provided
5. Account Opening and Operation: Procedures and requirements for opening and operating accounts
6. Rights and Obligations of the Bank: Detailed responsibilities and rights of the financial institution
7. Rights and Obligations of the Client: Detailed responsibilities and rights of the client
8. Fees and Charges: Structure and details of all fees, charges, and payment terms
9. Communications and Instructions: Methods and procedures for communications between parties and giving instructions
10. Data Protection and Confidentiality: Provisions for handling personal data and maintaining confidentiality in accordance with GDPR and BDSG
11. Anti-Money Laundering Compliance: AML obligations and procedures in accordance with GwG
12. Liability and Indemnification: Scope of liability, limitations, and indemnification provisions
13. Term and Termination: Duration of the agreement and termination provisions
14. Governing Law and Jurisdiction: Confirmation of German law governance and jurisdiction for disputes
15. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments
1. Online Banking Services: Terms specific to online banking access and security, required if online banking services are provided
2. Investment Services: Terms for investment account management, required if investment services are included
3. Foreign Currency Accounts: Specific provisions for foreign currency accounts, required if foreign currency services are offered
4. Corporate Account Specific Terms: Additional terms for corporate clients, required for business accounts
5. Joint Account Provisions: Specific terms for joint accounts, required when accounts have multiple holders
6. Credit Facilities: Terms for any overdraft or credit facilities, required if credit services are offered
7. Special Instructions and Standing Orders: Terms for handling recurring payments and special instructions, required if these services are offered
1. Schedule 1 - Fee Schedule: Detailed breakdown of all applicable fees and charges
2. Schedule 2 - Account Opening Forms: Standard forms required for account opening and KYC documentation
3. Schedule 3 - Operating Procedures: Detailed procedures for account operations and service requests
4. Schedule 4 - Authorized Signatories: Form and procedures for designating authorized signatories
5. Schedule 5 - Electronic Banking Terms: Detailed terms and conditions for electronic banking services
6. Schedule 6 - Data Processing Agreement: Detailed GDPR-compliant data processing terms
7. Appendix A - Service Level Agreement: Specific service levels and performance standards
8. Appendix B - Security Procedures: Detailed security procedures and requirements
Authors
Banking and Financial Services
Corporate Services
Retail Banking
Investment Banking
FinTech
Professional Services
Legal Services
Insurance
Real Estate
Manufacturing
Technology
Healthcare
Retail
Hospitality
Construction
Education
Non-Profit Organizations
Public Sector
Legal
Compliance
Account Management
Customer Service
Operations
Risk Management
Finance
Treasury
Regulatory Affairs
Data Protection
Corporate Banking
Retail Banking
Client Onboarding
KYC
Product Development
Legal Counsel
Compliance Officer
Account Manager
Relationship Manager
Banking Operations Manager
Chief Financial Officer
Financial Controller
Risk Manager
Corporate Treasurer
Banking Services Director
Client Services Manager
Operations Director
Regulatory Compliance Manager
Data Protection Officer
Chief Operating Officer
Branch Manager
Customer Service Manager
Account Opening Officer
KYC Specialist
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