Document background
A Third Party Payment Agreement is essential in modern financial transactions where a third party facilitates payments between a payer and payee. This agreement, governed by Belgian law, is particularly relevant in e-commerce, financial services, and digital platform contexts where payment processing is outsourced or managed by specialized providers. The document addresses critical aspects including payment terms, processing mechanisms, regulatory compliance (particularly Belgian financial regulations and EU directives), data protection, and risk allocation. It's commonly used when businesses want to establish secure, compliant payment arrangements through payment service providers or financial institutions. The agreement ensures compliance with Belgian financial services legislation, anti-money laundering requirements, and data protection laws while providing clear operational frameworks for all parties involved.
