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1. Parties: Identifies and provides details of all parties to the agreement, including the entrusting party, the payment agent, and any other relevant parties
2. Background: Sets out the context and purpose of the agreement, including the nature of the entrusted payment arrangement
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes rules for interpretation
4. Appointment and Authority: Establishes the formal appointment of the payment agent and defines the scope of their authority
5. Payment Terms and Processing: Details the mechanics of how payments will be processed, including timelines, procedures, and verification requirements
6. Fees and Charges: Specifies all fees payable to the payment agent and related charges
7. Security and Controls: Outlines security measures and internal controls for handling payments and preventing fraud
8. Compliance Requirements: Addresses regulatory compliance obligations, including AML/CTF requirements
9. Representations and Warranties: States the assurances given by each party regarding their capacity and authority
10. Liability and Indemnification: Defines the extent of liability and indemnification obligations of each party
11. Term and Termination: Specifies the duration of the agreement and circumstances for termination
12. Confidentiality: Establishes obligations regarding the protection of confidential information
13. Dispute Resolution: Sets out procedures for resolving disputes between parties
14. General Provisions: Contains standard boilerplate clauses including notices, governing law, and assignment
1. Foreign Currency Provisions: Additional terms for handling multiple currencies and exchange rates, included when payments involve foreign currencies
2. Special Reporting Requirements: Additional reporting obligations beyond standard requirements, included when specific reporting is needed
3. Sub-agent Arrangements: Terms governing the appointment and management of sub-agents, included when sub-agents will be used
4. Internet Banking Facilities: Specific provisions for online banking arrangements, included when electronic banking facilities are used
5. Insurance Requirements: Specific insurance obligations, included when additional insurance coverage is required
6. Business Continuity: Provisions for business continuity and disaster recovery, included for high-value or critical payment arrangements
7. Data Protection: Enhanced data protection requirements, included when handling sensitive personal data or operating in multiple jurisdictions
1. Schedule 1 - Payment Processing Procedures: Detailed procedures for processing payments, including flowcharts and timelines
2. Schedule 2 - Fee Schedule: Detailed breakdown of all fees and charges applicable under the agreement
3. Schedule 3 - Authorized Signatories: List of authorized persons who can give payment instructions or make decisions
4. Schedule 4 - Required Forms: Standard forms for payment instructions, notifications, and other routine communications
5. Schedule 5 - Service Levels: Detailed service level requirements and performance metrics
6. Schedule 6 - Compliance Checklist: Checklist of regulatory compliance requirements and procedures
7. Appendix A - System Requirements: Technical specifications for any electronic systems or interfaces used
8. Appendix B - Security Protocols: Detailed security procedures and protocols for payment processing
Applicable Laws
Authorized Person
Authorized Signatory
Banking Day
Beneficiary
Business Day
Commencement Date
Confidential Information
Control Procedures
Corporations Act
Default Event
Disbursement
Effective Date
Entrusted Funds
Entrusted Payment Account
Fees
Force Majeure Event
Governing Law
GST
Insolvency Event
Instructions
Law
Material Adverse Effect
Notification
Payment Agent
Payment Date
Payment Instruction
Payment Services
Principal
Processing Time
Regulatory Authority
Related Entity
Representatives
Security Procedures
Service Levels
Sub-Agent
Term
Transaction
Trust Account
Verification Process
Authority
Payment Processing
Account Operation
Service Levels
Fees and Charges
Security Measures
Regulatory Compliance
Anti-Money Laundering
Representations and Warranties
Confidentiality
Data Protection
Liability
Indemnification
Force Majeure
Term
Termination
Dispute Resolution
Governing Law
Assignment
Sub-Contracting
Notices
Amendment
Severability
Entire Agreement
Counterparts
Trust Obligations
Reporting Requirements
Record Keeping
Audit Rights
Insurance
Business Continuity
Interest on Funds
Bank Accounts
Electronic Processing
Currency Conversion
Financial Services
Banking
Real Estate
Construction
Investment Management
Insurance
Property Development
Infrastructure
Private Equity
Fund Management
Corporate Services
Trust Services
Legal
Finance
Treasury
Compliance
Risk Management
Operations
Payment Operations
Trust Administration
Commercial
Company Secretariat
Chief Financial Officer
Treasury Manager
Finance Director
Compliance Officer
Legal Counsel
Trust Manager
Payment Operations Manager
Financial Controller
Risk Manager
Company Secretary
Transaction Manager
Fund Manager
Account Manager
Operations Director
Commercial Director
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