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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
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Letter For Agreement Of Payment
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Lease Payment Agreement
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Joint Payment Agreement
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Invoicing Agreement
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