Account Management Agreement Template for Philippines

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Key Requirements PROMPT example:

Account Management Agreement

"I need an Account Management Agreement for a Philippine wealth management firm providing services to high-net-worth individual clients, with specific provisions for foreign currency transactions and online portfolio access."

Document background
The Account Management Agreement serves as the primary contractual document between professional account managers and their clients in the Philippines, establishing the framework for the ongoing management of financial accounts and related services. This document is essential when a client engages a financial institution or professional manager to oversee their accounts, execute transactions, and provide related financial services. The agreement must comply with Philippine regulations, including the Securities Regulation Code, Banking regulations, Consumer Protection laws, and Data Privacy requirements. It typically includes comprehensive details about service scope, authority levels, operational procedures, fee structures, risk disclosures, and regulatory compliance obligations. The document is designed to protect both parties' interests while ensuring transparency and regulatory compliance in the Philippine financial services context.
Suggested Sections

1. Parties: Identifies and provides full details of the account manager and the client

2. Background: Explains the context of the agreement and the parties' intention to enter into an account management relationship

3. Definitions: Defines key terms used throughout the agreement for clarity and precise interpretation

4. Appointment and Scope of Services: Details the client's appointment of the account manager and outlines the core services to be provided

5. Authority and Instructions: Specifies the extent of the account manager's authority and procedures for receiving/acting on client instructions

6. Duties and Responsibilities: Outlines the obligations of the account manager in managing the client's account

7. Client's Obligations: Sets out the client's responsibilities, including providing accurate information and maintaining minimum balances

8. Fees and Charges: Details all fees, charges, and payment terms for the services provided

9. Representations and Warranties: Contains statements of fact and promises made by both parties

10. Risk Disclosures: Outlines potential risks associated with account management services

11. Confidentiality and Data Privacy: Addresses handling of confidential information and compliance with data privacy laws

12. Anti-Money Laundering Compliance: Details compliance requirements with AML regulations

13. Term and Termination: Specifies the duration of the agreement and conditions for termination

14. Liability and Indemnification: Sets out limitations of liability and indemnification obligations

15. Force Majeure: Addresses circumstances beyond parties' control affecting agreement performance

16. Notices: Specifies how formal communications between parties should be made

17. Governing Law and Jurisdiction: Establishes Philippine law as governing law and specifies jurisdiction for disputes

18. General Provisions: Contains standard boilerplate clauses including severability, entire agreement, and amendments

Optional Sections

1. Investment Management: Include when the agreement covers investment management services, detailing investment objectives and strategies

2. Online Access and Electronic Services: Include when providing digital account access and electronic service delivery

3. Foreign Currency Transactions: Include when the account involves multiple currencies or foreign exchange services

4. Sub-Delegation: Include when the account manager may need to delegate certain functions to third parties

5. Joint Accounts: Include when the agreement covers joint account holders

6. Corporate Actions: Include when managing accounts holding securities with voting rights or corporate actions

7. Tax Reporting: Include when providing tax reporting services or handling international tax matters

Suggested Schedules

1. Schedule of Fees: Detailed breakdown of all fees, charges, and commission structures

2. Authorized Persons: List of individuals authorized to give instructions on behalf of the client

3. Service Level Agreement: Detailed service standards and performance metrics

4. Account Opening Forms: Standard forms required for account opening and KYC documentation

5. Risk Disclosure Statement: Detailed disclosure of risks associated with different types of transactions and services

6. Data Processing Terms: Detailed terms for personal data processing in compliance with privacy laws

7. Investment Guidelines: Specific investment parameters and restrictions if applicable

8. Operating Procedures: Detailed procedures for account operations, transactions, and communications

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

Relevant legal definitions
Clauses
Relevant Industries

Banking

Financial Services

Wealth Management

Investment Management

Corporate Services

Trust Services

Private Banking

Asset Management

Professional Services

Corporate Banking

Retail Banking

Relevant Teams

Legal

Compliance

Account Management

Client Services

Operations

Risk Management

Finance

Treasury

Investment Management

Wealth Management

Corporate Services

Administrative Services

Relevant Roles

Account Manager

Relationship Manager

Compliance Officer

Legal Counsel

Financial Advisor

Investment Manager

Trust Officer

Operations Manager

Risk Manager

Client Service Manager

Portfolio Manager

Managing Director

Chief Financial Officer

Treasury Manager

Corporate Secretary

Director of Operations

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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