Master Fee Protection Agreement Template for Austria

The Master Fee Protection Agreement serves as the primary contractual framework for establishing and governing fee protection arrangements between financial institutions and their clients under Austrian law. This agreement is essential when clients require secure mechanisms for protecting and managing fees, particularly in situations involving significant financial transactions, ongoing service arrangements, or escrow-like services. The document incorporates specific provisions required by Austrian banking regulations, including the Bankwesengesetz (BWG) and Zahlungsdienstegesetz (ZaDiG 2018), while ensuring compliance with EU regulations such as GDPR. It outlines detailed procedures for fee segregation, management, reporting, and the respective obligations of both the fee protection provider and the client. The agreement is particularly relevant in the context of financial services, banking arrangements, and professional services where fee protection and proper fund segregation are crucial for regulatory compliance and risk management.

1. Parties: Identification of the contracting parties, including the fee protection provider and the client

2. Background: Context of the agreement and purpose of the fee protection arrangement

3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules of interpretation

4. Scope of Services: Detailed description of the fee protection services to be provided

5. Fee Protection Mechanism: Core provisions describing how fees are protected, held, and managed

6. Obligations of the Provider: Detailed responsibilities and duties of the fee protection service provider

7. Client Obligations: Responsibilities and duties of the client

8. Fee Structure and Payment Terms: Details of fees charged for the service and payment arrangements

9. Security and Segregation of Funds: Provisions for ensuring protected fees are properly segregated and secured

10. Reporting and Notifications: Requirements for regular reporting and necessary notifications between parties

11. Compliance and Regulatory Requirements: Obligations regarding regulatory compliance, including Austrian banking laws

12. Data Protection and Confidentiality: GDPR compliance and confidentiality obligations

13. Term and Termination: Duration of the agreement and termination provisions

14. Liability and Indemnification: Scope of liability and indemnification obligations

15. Force Majeure: Provisions for unforeseen circumstances affecting performance

16. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction

17. General Provisions: Standard boilerplate clauses including notices, amendments, and severability