The Recurring Payment Agreement is a critical document used in the Netherlands to establish and govern automatic payment arrangements between service providers and their customers. This agreement is essential for businesses that collect regular payments for ongoing services, subscriptions, or periodic obligations. It must comply with Dutch legal requirements, including the Civil Code, Financial Supervision Act, and EU regulations such as PSD2 and GDPR. The document includes crucial elements such as payment authorization, SEPA mandate information, customer rights, and data protection provisions. It's particularly important for ensuring legal compliance while facilitating efficient payment collection and providing clarity on the terms of the recurring payment arrangement for all parties involved.
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1. Parties: Identification of the payment service provider and the customer, including full legal names, addresses, and registration details
2. Background: Context of the agreement and the services being provided
3. Definitions: Definitions of key terms used throughout the agreement
4. Payment Terms: Details of the recurring payment amount, frequency, and payment method
5. Authorization: Customer's authorization for automatic debiting and SEPA mandate information
6. Duration: Term of the agreement and renewal provisions
7. Rights and Obligations: Detailed responsibilities of both parties regarding the payment arrangement
8. Changes to Payment Terms: Process for modifying payment amounts or frequency
9. Termination: Conditions and process for terminating the recurring payment arrangement
10. Communication: Methods and requirements for notices between parties
11. Data Protection: GDPR compliance and handling of personal and financial data
12. Governing Law: Specification of Dutch law as governing law and jurisdiction
1. Multiple Payment Methods: Include when the agreement allows for different payment methods or backup payment options
2. Currency Conversion: Include when payments may be processed in multiple currencies
3. Special Cancellation Rights: Include for consumer contracts with specific statutory cancellation rights
4. Third-Party Payment Processors: Include when external payment processors are involved
5. Rewards or Loyalty Programs: Include if recurring payments are linked to any rewards or loyalty schemes
6. Service Level Requirements: Include when specific service levels are guaranteed as part of the payment arrangement
1. Schedule 1 - Payment Schedule: Detailed breakdown of payment amounts, dates, and frequency
2. Schedule 2 - SEPA Direct Debit Mandate: Standard SEPA mandate form with customer authorization
3. Schedule 3 - Service Specifications: Detailed description of services linked to the recurring payments
4. Appendix A - Contact Details: List of key contacts and notification addresses for both parties
5. Appendix B - Data Processing Terms: Detailed terms for processing personal and payment data in compliance with GDPR
Authors
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Subscription Services
Software and Technology
Utilities
Telecommunications
Property Management
Insurance
Professional Services
Education
Healthcare
Fitness and Wellness
Media and Entertainment
Relevant Teams
Legal
Finance
Compliance
Accounts Receivable
Treasury
Operations
Customer Service
Risk Management
Commercial
Billing
Contract Administration
Relevant Roles
Finance Manager
Legal Counsel
Compliance Officer
Accounts Receivable Manager
Payment Operations Manager
Contract Administrator
Treasury Manager
Financial Controller
Business Development Manager
Customer Service Manager
Risk Manager
Operations Director
Chief Financial Officer
Commercial Manager
Billing Coordinator
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