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Account Management Agreement Template for Germany

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Key Requirements PROMPT example:

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.

Document background
The Account Management Agreement serves as the foundational document governing the relationship between financial institutions and their account holders under German law. It is essential for establishing new banking relationships and is used whenever a client (individual or entity) opens an account with a financial institution in Germany. The agreement encompasses all aspects of account management, including account opening requirements, operational procedures, service provisions, fee structures, and regulatory compliance requirements. It must comply with German banking regulations (KWG), civil code (BGB), anti-money laundering laws (GwG), and data protection regulations (GDPR/BDSG). This document is particularly important given Germany's strict banking regulations and consumer protection laws, requiring careful attention to regulatory compliance while maintaining operational efficiency.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ 红杏直播 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions

















































Clauses




































Relevant Industries

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

Relevant Teams

Legal

Compliance

Account Management

Customer Service

Operations

Risk Management

Finance

Treasury

Regulatory Affairs

Data Protection

Corporate Banking

Retail Banking

Client Onboarding

KYC

Product Development

Relevant Roles

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

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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