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The Client Account Agreement serves as the foundational document governing the relationship between financial institutions and their clients in the Philippines. It is essential for establishing new banking relationships and must comply with various Philippine regulations, including the New Central Bank Act, Securities Regulation Code, and Anti-Money Laundering Act. This agreement is typically used when opening new accounts, whether for individuals or corporate entities, and covers everything from basic account operations to complex financial services. The document includes provisions for account maintenance, transaction processing, fees, electronic banking services, data privacy protections, and regulatory compliance requirements. It needs regular updates to reflect changes in Philippine banking regulations and financial services laws.

1. Parties: Identification of the financial institution and the client, including complete legal names and addresses

2. Background: Context of the agreement and the nature of the services being provided

3. Definitions: Definitions of key terms used throughout the agreement

4. Account Opening and Maintenance: Requirements and procedures for opening and maintaining the account

5. Services Provided: Detailed description of the services covered by the agreement

6. Client Obligations: Client's responsibilities, including providing accurate information and maintaining minimum balances

7. Fees and Charges: Complete fee structure and payment terms

8. Instructions and Authorizations: Procedures for giving instructions and authorizations regarding the account

9. Security and Access: Account security measures and access protocols

10. Privacy and Data Protection: Handling of personal information in compliance with the Data Privacy Act

11. Anti-Money Laundering Provisions: AML compliance requirements and procedures

12. Representations and Warranties: Standard representations and warranties from both parties

13. Liability and Indemnification: Limitations of liability and indemnification provisions

14. Term and Termination: Duration of agreement and termination procedures

15. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction for disputes

16. General Provisions: Standard boilerplate provisions including notices, amendments, and severability