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1. Parties: Identifies all parties to the agreement including the third-party payer
2. Background: Explains the context and purpose of the third-party payment arrangement
3. Definitions: Defines key terms used throughout the agreement
4. Payment Terms: Details of payment amounts, timing, and mechanisms
5. Obligations of Parties: Responsibilities of each party including payment, notification, and compliance duties
6. Term and Termination: Duration of agreement and termination provisions
7. Representations and Warranties: Standard representations and compliance with applicable laws
8. Governing Law and Jurisdiction: Specifies English and Welsh law as governing law and relevant jurisdiction
1. Security Arrangements: Used when payment security or guarantees are required for high-value transactions or where credit risk exists
2. Anti-Money Laundering Compliance: Specific AML obligations and procedures for financial institutions or large payment arrangements
3. Force Majeure: Provisions for unforeseen circumstances affecting payments, recommended for long-term or high-value arrangements
4. Data Protection: GDPR and Data Protection Act 2018 compliance provisions where personal data is processed
5. Confidentiality: Provisions for maintaining confidentiality of payment and business information
1. Payment Schedule: Detailed breakdown of payment amounts and dates
2. Bank Account Details: Specified account information for payments
3. KYC Documentation Requirements: List of required documentation for compliance
4. Form of Payment Notices: Template notices for payment-related communications
5. Compliance Requirements: Detailed AML and regulatory compliance procedures and requirements
Business Day
Commencement Date
Confidential Information
Default Event
Effective Date
Force Majeure Event
Governing Law
Initial Payment
Original Payment Obligation
Payment Amount
Payment Date
Payment Instructions
Payment Method
Payment Notice
Payment Schedule
Payee
Payee Account
Payor
Regulatory Requirements
Relevant Account
Security Interest
Third Party Payor
Transaction
Working Day
Payment Terms
Payment Mechanics
Default and Remedies
Representations and Warranties
Conditions Precedent
Security Arrangements
Anti-Money Laundering Compliance
Regulatory Compliance
Confidentiality
Force Majeure
Notices
Assignment and Transfer
Set-off Rights
Indemnification
Term and Termination
Events of Default
Amendments and Waivers
Severability
Entire Agreement
Governing Law
Dispute Resolution
Third Party Rights
Costs and Expenses
Further Assurance
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Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it


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