The ACH Debit Agreement is essential for establishing recurring payment arrangements in Belgium, operating within the framework of EU payment services legislation and SEPA regulations. This document is typically used when a business or organization needs to set up regular automatic payments from a customer's or client's bank account. It's particularly relevant for recurring services, subscription payments, or installment arrangements. The agreement must comply with Belgian law, including the Belgian implementation of PSD2 and the Belgian Economic Law Code, while also adhering to EU-wide regulations such as GDPR and SEPA requirements. It includes crucial elements such as explicit authorization for direct debits, payment specifications, refund rights, and data protection provisions, making it a fundamental tool for businesses operating in Belgium that require regular payment collection capabilities.
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1. Parties: Identification of the creditor and debtor, including full legal names, addresses, and relevant registration numbers
2. Background: Context of the agreement and the underlying business relationship necessitating the direct debit arrangement
3. Definitions: Key terms used in the agreement, including technical banking terms and SEPA-specific terminology
4. Direct Debit Authorization: Explicit authorization from the debtor allowing the creditor to initiate direct debits, including the scope and nature of the authorization
5. Payment Terms: Details of payment amounts, frequency, and timing of direct debits
6. Bank Account Information: Specification of the relevant bank account details for both parties, including IBAN and BIC codes
7. Duration and Termination: Term of the agreement and conditions for termination or modification
8. Rights and Obligations: Responsibilities of both parties, including notification requirements and handling of failed payments
9. Refund Rights: Information about the debtor's refund rights under SEPA and Belgian law
10. Data Protection: Provisions regarding the handling of personal and financial data in compliance with GDPR
11. Governing Law and Jurisdiction: Specification of Belgian law as governing law and jurisdiction for disputes
1. Variable Payment Provisions: Used when payment amounts may vary, specifying how variations will be calculated and communicated
2. Multiple Account Provisions: Include when the debtor authorizes debits from multiple accounts
3. Business Terms: Additional terms specific to business-to-business arrangements, only used for B2B direct debits
4. International Payments: Specific provisions for cross-border payments within SEPA, if applicable
5. Dispute Resolution: Alternative dispute resolution procedures, if parties agree to specific mechanisms beyond court jurisdiction
6. Force Majeure: Provisions for handling circumstances beyond parties' control affecting direct debit processing
7. Language Provisions: Required when the agreement is executed in multiple languages, specifying which version prevails
1. Schedule 1 - SEPA Direct Debit Mandate: Standard SEPA Direct Debit Mandate form with mandate reference and creditor identifier
2. Schedule 2 - Payment Schedule: Detailed schedule of payment dates, amounts, and frequency if fixed
3. Schedule 3 - Technical Requirements: Technical specifications for direct debit processing, including file formats and submission deadlines
4. Appendix A - Contact Details: List of authorized contacts and notification procedures for both parties
5. Appendix B - Bank Account Details: Comprehensive banking information including backup accounts if applicable
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