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The Auto Payment Contract serves as a foundational document for establishing recurring payment arrangements in Hong Kong's financial services landscape. This document is essential when businesses or service providers need to set up automated payment collections from their customers' accounts. It encompasses critical elements including payment authorization, processing parameters, security protocols, and data protection measures, all aligned with Hong Kong's regulatory framework, particularly the Banking Ordinance and Payment Systems and Stored Value Facilities Ordinance. The contract is designed to protect both parties' interests while ensuring smooth, compliant payment processing, making it particularly valuable for businesses with recurring billing needs or regular payment collections.

1. Parties: Identification of the payment service provider and the customer/account holder

2. Background: Context of the agreement and purpose of the auto payment arrangement

3. Definitions: Key terms used throughout the agreement including payment-related terminology

4. Payment Authorization: Customer's authorization for automatic debits and specific payment arrangements

5. Payment Terms: Details of payment frequency, amounts, and processing dates

6. Account Details: Specification of source and destination account information

7. Security Measures: Security protocols and measures to protect payment information

8. Data Privacy: Handling and protection of personal and financial data

9. Fees and Charges: Any fees associated with the auto payment service

10. Duration and Termination: Term of the agreement and conditions for termination

11. Liability and Indemnification: Allocation of risks and responsibilities between parties

12. Force Majeure: Provisions for unforeseen circumstances affecting payment processing

13. Governing Law: Specification of Hong Kong law as governing law

14. Dispute Resolution: Procedures for handling disputes and jurisdictional matters