The Zero Balance Account Agreement is essential for organizations seeking efficient cash management and improved liquidity control. This document is commonly used in the United States when companies need to consolidate funds from multiple accounts while maintaining separate accounts for operational purposes. The agreement establishes the framework for automated daily sweeps, defines the relationship between master and sub-accounts, and ensures compliance with federal banking regulations and state laws. It's particularly valuable for organizations with complex banking structures requiring centralized fund management while maintaining decentralized operations.
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1. Parties: Identifies the financial institutions involved in the ZBA arrangement
2. Background: Explains the purpose of establishing the ZBA relationship
3. Definitions: Defines key terms used throughout the agreement including master account, sub-accounts, target balance, and sweep mechanisms
4. Account Structure: Details the relationship between master and sub-accounts, including account hierarchy and operational flow
5. Transfer Mechanisms: Specifies how and when transfers occur between accounts, including sweep timing and procedures
6. Fees and Charges: Outlines all applicable fees and service charges for maintaining and operating the ZBA structure
7. Term and Termination: Specifies agreement duration, renewal terms, and conditions for termination
8. Representations and Warranties: Standard representations and warranties from both parties regarding authority and compliance
9. Confidentiality: Provisions regarding the treatment of confidential information exchanged between parties
1. International Transfers: Provisions for handling cross-border transactions and currency conversions in multi-country ZBA structures
2. Special Processing Instructions: Custom handling requirements for specific transactions or account management procedures
3. Overdraft Provisions: Terms governing the handling of insufficient funds situations and any associated credit facilities
4. Electronic Banking Services: Terms relating to online banking access and electronic reporting services
1. Schedule A - Account Details: Comprehensive list of all participating accounts, their designations (master/sub-account), and relationship structure
2. Schedule B - Fee Schedule: Detailed breakdown of all applicable fees, charges, and pricing terms
3. Schedule C - Operating Procedures: Detailed technical specifications for account operations, including cut-off times and processing schedules
4. Appendix 1 - Authorized Signatories: List of persons authorized to operate the accounts and their respective authority levels
5. Appendix 2 - Service Level Agreement: Specific performance metrics, service standards, and reporting requirements
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