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Paying Agency Agreement
I need a Paying Agency Agreement under Danish law for a fintech company acting as paying agent for a medium-sized bank, with particular focus on digital payment processing and API integration requirements, to be effective from March 2025.
1. Parties: Identification of the principal and the paying agent, including registration details and regulatory status
2. Background: Context of the agreement, purpose of the paying agency arrangement, and relevant background information
3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and interpretation rules
4. Appointment and Scope: Formal appointment of the paying agent and detailed scope of services
5. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
6. Duties and Responsibilities: Detailed obligations of the paying agent in performing payment services
7. Payment Processing Procedures: Specific procedures for handling payments, including timing and methods
8. Fees and Expenses: Compensation structure, payment terms, and reimbursement of expenses
9. Regulatory Compliance: Obligations regarding compliance with relevant laws and regulations
10. Anti-Money Laundering Provisions: Specific AML/CFT obligations and procedures
11. Records and Reporting: Requirements for maintaining records and providing reports
12. Confidentiality: Provisions regarding confidential information handling
13. Data Protection: GDPR compliance and data protection obligations
14. Liability and Indemnification: Allocation of risks and responsibilities between parties
15. Force Majeure: Provisions for handling events beyond parties' control
16. Governing Law and Jurisdiction: Confirmation of Danish law governance and jurisdiction
17. Miscellaneous: Standard boilerplate provisions including notices, amendments, and severability
1. Service Levels: Detailed service level requirements and KPIs - include when specific performance metrics are required
2. Business Continuity: Disaster recovery and business continuity provisions - include for critical payment services
3. Audit Rights: Rights to audit the paying agent's operations - include when required by regulatory obligations or risk profile
4. Insurance: Specific insurance requirements - include when dealing with high-value payments or higher risk services
5. Sub-Contracting: Rules regarding use of sub-contractors - include when sub-contracting may be needed
6. Intellectual Property: IP rights and licenses - include when proprietary systems or software are involved
7. Migration Assistance: Provisions for transition to another provider - include for complex or critical services
1. Schedule 1 - Services Description: Detailed description of all payment agency services to be provided
2. Schedule 2 - Fee Schedule: Detailed breakdown of fees, charges, and payment terms
3. Schedule 3 - Operating Procedures: Day-to-day operational procedures and requirements
4. Schedule 4 - Service Levels: Specific performance metrics and service level requirements
5. Schedule 5 - Contact Details: Key contacts and escalation procedures
6. Schedule 6 - Required Forms: Standard forms and templates for various processes
7. Appendix A - Technical Requirements: Technical specifications for payment processing systems
8. Appendix B - Compliance Requirements: Detailed regulatory compliance requirements and procedures
9. Appendix C - Security Procedures: Security protocols and requirements for payment processing
Authors
Affiliate
Agency Fee
Agreement
Applicable Law
Authorized Person
Banking Day
Beneficiary
Business Day
Confidential Information
Compliance Requirements
Data Protection Laws
Default
Effective Date
Electronic Means
EU
Event of Default
Force Majeure Event
Governing Law
Instructions
Interest Payment Date
Material Adverse Effect
Operating Procedures
Paying Agent
Payment Date
Payment Instructions
Payment Services
Principal
Records
Regulatory Authority
Relevant Jurisdiction
Representatives
Sanctions
Security Procedures
Service Levels
Services
Sub-Agent
Systems
Tax
Term
Territory
Transaction
Transfer
Working Hours
AML Requirements
Danish Business Day
Danish Financial Supervisory Authority
Danish Payments Act
GDPR
KYC Requirements
Payment Processing System
Regulatory Consents
Required Currency
Settlement Date
Services
Payment Processing
Agency
Fees
Reimbursement
Regulatory Compliance
Anti-Money Laundering
KYC Requirements
Payment Instructions
Processing Obligations
Records and Reporting
Confidentiality
Data Protection
Force Majeure
Termination
Liability
Indemnification
Insurance
Security
Representations and Warranties
Assignment
Amendments
Notices
Governing Law
Jurisdiction
Dispute Resolution
Sub-Contracting
Service Levels
Business Continuity
Audit Rights
Systems and Technology
Intellectual Property
Conflicts of Interest
Tax
Sanctions Compliance
Anti-Bribery
Account Management
Information Rights
Standard of Care
Exclusivity
Banking and Financial Services
Investment Services
Corporate Services
Securities Services
Payment Processing
Financial Technology
Asset Management
Capital Markets
Corporate Treasury
Fund Administration
Legal
Finance
Treasury
Compliance
Operations
Risk Management
Corporate Finance
Payment Operations
Financial Control
Regulatory Affairs
Chief Financial Officer
Treasury Manager
Finance Director
Compliance Officer
Legal Counsel
Financial Controller
Operations Manager
Payment Services Manager
Risk Manager
Relationship Manager
Corporate Secretary
Account Manager
Finance Operations Director
Treasury Operations Manager
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