The Auto Payment Agreement is essential for businesses operating in Germany that need to establish recurring payment arrangements with customers or business partners. This document is particularly relevant in the context of German banking regulations and EU payment service directives, incorporating necessary compliance elements from the German Civil Code (BGB), Payment Services Supervision Act (ZAG), and GDPR. The agreement is typically used for setting up direct debits, recurring credit card charges, or other automated payment methods. It includes crucial elements such as payment authorization, processing terms, data protection measures, and termination rights, all aligned with German legal requirements. The document is designed to protect both the paying and receiving parties while ensuring smooth, automated financial transactions.
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1. Parties: Identification of the payment recipient (creditor) and the payer (debtor), including full legal names, addresses, and relevant registration numbers
2. Background: Context of the agreement, describing the underlying business relationship or purpose for the automatic payments
3. Definitions: Key terms used throughout the agreement, including technical payment terms, banking terminology, and specific references to payment systems
4. Payment Authorization: Express authorization for automatic debits, including payment amount, frequency, and account details
5. Payment Terms: Specific details about payment timing, amount calculation, and processing dates
6. Data Protection: GDPR-compliant provisions regarding the handling of personal and financial data
7. Security Measures: Procedures and safeguards for protecting payment information and preventing unauthorized access
8. Duration and Termination: Term of the agreement and conditions for termination by either party
9. Governing Law: Specification of German law as governing law and jurisdiction
1. Variable Payment Provisions: Used when payment amounts may vary based on usage, consumption, or other factors
2. Multiple Account Provisions: Required when the payer wishes to authorize payments from multiple accounts
3. International Payment Provisions: Needed for cross-border payments or when multiple currencies are involved
4. Dispute Resolution: Detailed procedures for handling payment disputes, recommended for high-value or complex payment arrangements
5. Force Majeure: Provisions for handling payment interruptions due to circumstances beyond parties' control
1. Schedule A - Payment Schedule: Detailed timeline of payment dates, amounts, and frequency
2. Schedule B - Account Details: Complete banking information for both parties, including IBAN, BIC, and account numbers
3. Schedule C - Fee Schedule: Breakdown of any additional fees, charges, or processing costs
4. Appendix 1 - SEPA Direct Debit Mandate: Standard SEPA mandate form for direct debit authorization
5. Appendix 2 - Data Processing Agreement: Detailed GDPR-compliant provisions for handling personal and financial data
Relevant legal definitions
Agreement
Automatic Payment
Account Holder
Authorization
Banking Day
BIC (Bank Identifier Code)
Creditor
Creditor ID
Data Protection Laws
Debtor
Direct Debit
Due Date
Effective Date
Electronic Payment
Force Majeure
IBAN
Mandate
Mandate Reference
Payment Account
Payment Date
Payment Instruction
Payment Provider
Payment Schedule
Payment Services
Personal Data
Pre-notification
Processing Date
Recurring Payment
Reference Period
Refund Rights
SEPA
SEPA Direct Debit
Service Fee
Settlement Date
Target Account
Target Bank
Term
Transaction
Variable Amount
Working Day
Automatic Payment
Account Holder
Authorization
Banking Day
BIC (Bank Identifier Code)
Creditor
Creditor ID
Data Protection Laws
Debtor
Direct Debit
Due Date
Effective Date
Electronic Payment
Force Majeure
IBAN
Mandate
Mandate Reference
Payment Account
Payment Date
Payment Instruction
Payment Provider
Payment Schedule
Payment Services
Personal Data
Pre-notification
Processing Date
Recurring Payment
Reference Period
Refund Rights
SEPA
SEPA Direct Debit
Service Fee
Settlement Date
Target Account
Target Bank
Term
Transaction
Variable Amount
Working Day
Clauses
Payment Authorization
Payment Processing
Direct Debit Authorization
Account Information
Payment Schedule
Payment Amount
Data Protection
Confidentiality
Security Measures
Consent
Authorization Withdrawal
Modification Rights
Termination Rights
Liability
Force Majeure
Dispute Resolution
Governing Law
Assignment
Notices
Entire Agreement
Severability
Data Processing
Consumer Rights
Refund Rights
Fee Structure
Service Level
Amendment
Representations and Warranties
Indemnification
Currency
Payment Processing
Direct Debit Authorization
Account Information
Payment Schedule
Payment Amount
Data Protection
Confidentiality
Security Measures
Consent
Authorization Withdrawal
Modification Rights
Termination Rights
Liability
Force Majeure
Dispute Resolution
Governing Law
Assignment
Notices
Entire Agreement
Severability
Data Processing
Consumer Rights
Refund Rights
Fee Structure
Service Level
Amendment
Representations and Warranties
Indemnification
Currency
Relevant Industries
Banking & Financial Services
Utilities
Telecommunications
Insurance
Subscription Services
Real Estate & Property Management
Retail
Professional Services
Healthcare
Education
Relevant Teams
Legal
Finance
Compliance
Treasury
Customer Operations
Risk Management
Data Protection
Account Management
Payment Operations
Customer Service
Relevant Roles
Finance Manager
Legal Counsel
Compliance Officer
Account Manager
Financial Controller
Payment Operations Manager
Risk Manager
Treasury Manager
Customer Service Manager
Data Protection Officer
Contracts Administrator
Business Development Manager
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