Third Party Payment Agreement for Germany

Third Party Payment Agreement Template for Germany

A Third Party Payment Agreement governed by German law is a legally binding document that establishes and regulates an arrangement where a third party assumes responsibility for making payments on behalf of an original debtor to a creditor. The agreement complies with German Civil Code (BGB) requirements, particularly sections relating to third-party performance (§ 267 BGB) and contractual obligations. It includes comprehensive provisions for payment terms, compliance with German banking and anti-money laundering regulations, and clearly defined rights and obligations of all parties involved. The document serves as a crucial instrument in various commercial and financial transactions under German jurisdiction.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Generate a Bespoke Document

1. Select your governing law:

2. Enter your key requirements:

3. Create your document to edit, review or download

Download a Standard Template

Get our Germany-compliant Third Party Payment Agreement

4.6 / 5

4.8 / 5

Alternatively: Run an advanced review of an existing
Third Party Payment Agreement

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

Upload your Doc

What is a Third Party Payment Agreement?

The Third Party Payment Agreement is essential in situations where an entity other than the original debtor assumes responsibility for making payments under German law. This document is commonly used in corporate restructuring, family business arrangements, or commercial transactions where a third party steps in to fulfill payment obligations. The agreement must comply with German Civil Code (BGB) requirements, particularly regarding third-party performance rights and payment obligations. It typically includes detailed payment terms, compliance requirements under German banking and anti-money laundering regulations, and specific provisions protecting all parties' interests. The document is particularly relevant in scenarios involving corporate groups, financial institutions, or business arrangements where payment obligations are transferred or shared. When implementing a Third Party Payment Agreement, careful consideration must be given to German regulatory requirements, including the Payment Services Supervision Act (ZAG) and Anti-Money Laundering Act (GwG).

What sections should be included in a Third Party Payment Agreement?

1. Parties: Identification of all three parties: the original debtor, the third-party payor, and the creditor

2. Background: Context of the original debt obligation and reason for third-party payment arrangement

3. Definitions: Key terms used throughout the agreement, including payment-related terminology

4. Payment Obligations: Details of the payment amount, currency, and payment schedule

5. Third Party Payment Terms: Specific terms governing the third party's obligation to make payments

6. Original Debtor's Obligations: Ongoing responsibilities of the original debtor and relationship to the third-party payor

7. Creditor's Acknowledgments: Creditor's acceptance of third-party payments and release provisions

8. Representations and Warranties: Standard declarations by all parties regarding their capacity and authority

9. Compliance Requirements: Anti-money laundering and regulatory compliance obligations

10. Default and Remedies: Consequences and available remedies in case of payment default

11. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction

12. Notices: Communication procedures between all three parties

13. General Provisions: Standard boilerplate clauses including severability, amendments, and entire agreement

What sections are optional to include in a Third Party Payment Agreement?

1. Security Arrangements: Include when third-party payments are secured by collateral or guarantees

2. Step-In Rights: Include when the original debtor retains right to resume payments under specified conditions

3. Currency Exchange Provisions: Include for cross-border payments or when different currencies are involved

4. Tax Provisions: Include when tax implications need specific addressing, especially for international payments

5. Assignment and Transfer: Include when rights to receive/make payments may be transferred

6. Intermediary Banks: Include when specific banking channels must be used for payments

7. Force Majeure: Include when parties want specific provisions for payment interruptions due to extraordinary events

What schedules should be included in a Third Party Payment Agreement?

1. Payment Schedule: Detailed schedule of payment amounts, dates, and methods

2. Party Information: Complete details of all parties including registration numbers and addresses

3. Bank Account Details: Specified bank accounts for making and receiving payments

4. Original Debt Documentation: Copy or summary of the original debt obligation

5. Compliance Documentation: Required AML and KYC documentation for the third-party payor

6. Power of Attorney: If applicable, authorization documentation for the third-party payor

7. Form of Payment Notices: Standard forms for payment notifications and confirmations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Cost

Free to use

Relevant legal definitions

Clauses

Relevant Industries

Financial Services

Banking

Insurance

Corporate Services

Real Estate

Manufacturing

Construction

Import/Export

Retail

Professional Services

Healthcare

Technology

Relevant Teams

Legal

Finance

Treasury

Compliance

Accounts Payable

Risk Management

Corporate Governance

Commercial Operations

Credit Control

Banking Operations

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Accounts Payable Manager

Legal Counsel

Compliance Officer

Corporate Controller

Credit Manager

Financial Controller

Risk Manager

Banking Relationship Manager

Commercial Director

Contract Administrator

Corporate Secretary

Financial Analyst

Find the exact document you need

No matches found.

Personal Payment Agreement

A German law-governed agreement establishing structured payment terms and conditions between parties, compliant with BGB requirements.

How Cambridge United Uses Genie AI to Speed Up Player Signings and Slash Legal Costs

Generate a Bespoke Document

Download a Standard Template

What is a Third Party Payment Agreement?

What sections should be included in a Third Party Payment Agreement?

What sections are optional to include in a Third Party Payment Agreement?

What schedules should be included in a Third Party Payment Agreement?

Authors

Alex Denne

Jurisdiction

Publisher

Document Type

Sector

Cost

Find the exact document you need

Personal Payment Agreement

Agreement For Receiving Money

Personal Loan Payment Agreement

Loan Payment Agreement Letter

Agreement To Pay For Car Accident Damages

Money Contract

Vehicle Purchase Agreement Payment Plan

Taking Over Car Installments Agreement

Interim Payment Agreement

Agreement For Partial Payment

Payment Agreement Contract For Car Accident

Debt Payment Agreement

Auto Payment Contract

Contract For Taking Over Payments On A Vehicle

Contract To Pay Back Money Owed

Contract For Payment Of Services

Loan Repayment Contract

Fee Payment Agreement

Employee Repayment Agreement

Freelance Payment Contract

Agreement To Pay For Services

Settlement Agreement Payment Terms

Pay Off Agreement

Partial Payment Agreement For Lot

Partial Payment Agreement For House And Lot

Install Agreement

Down Payment Contract

Commission Payment Agreement

Bill Of Sale Agreement With Payments

Agreement For Cash Payment

Advance Payment Contract

Advance Payment Agreement

Settlement Agreement With Installment Payments

Recurring Payment Contract

Prepayment Agreement

Payout Agreement

Payment Undertaking Agreement

Partial Payment Contract

Loan Repayment Agreement Employee

Invoicing Agreement

Genie’s Security Promise

Your documents are private:

Your documents are protected:

Organizational security:

Use Cases

Generate Legal Docs Free