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Account Bank Agreement

Account Bank Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Account Bank Agreement

"I need an Account Bank Agreement governed by Hong Kong law for a multinational technology company establishing multiple currency accounts with electronic banking services, targeting implementation by March 2025."

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Document background
The Account Bank Agreement serves as the primary document governing the banking relationship between financial institutions and their clients in Hong Kong. It is typically used when establishing new banking relationships, particularly in complex financial transactions or when specific account arrangements are required. The agreement must comply with Hong Kong's robust regulatory framework, including the Banking Ordinance (Cap. 155) and HKMA guidelines. It covers crucial aspects such as account operations, electronic banking services, security measures, and regulatory compliance requirements. This document is essential for structured finance transactions, project finance arrangements, and corporate banking relationships where formalized account management terms are necessary.
Suggested Sections

1. Parties: Identification of the Account Bank, Account Holder, and any other relevant parties such as Security Trustee

2. Background: Context of the agreement and its relationship to other transaction documents

3. Definitions and Interpretation: Definitions of key terms and interpretation rules

4. Appointment and Duration: Appointment of the Account Bank and term of the agreement

5. Account Establishment and Operation: Rules for opening, maintaining, and operating the accounts

6. Account Bank's Rights and Obligations: Core duties, responsibilities, and rights of the Account Bank

7. Account Holder's Rights and Obligations: Core duties, responsibilities, and rights of the Account Holder

8. Security and Access: Security measures, authentication procedures, and access protocols

9. Instructions and Communications: Procedures for giving and acting on instructions

10. Fees and Expenses: Fee structure, payment terms, and expense reimbursement

11. Representations and Warranties: Standard representations and warranties from all parties

12. Compliance and Regulatory Matters: Regulatory compliance obligations including AML/CTF requirements

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

14. Termination: Termination events and procedures

15. Confidentiality: Confidentiality obligations and permitted disclosures

16. General Provisions: Standard boilerplate clauses including notices, amendments, governing law

Optional Sections

1. Electronic Banking Services: Terms for online banking services - include if electronic banking services are offered

2. Foreign Currency Accounts: Additional terms for foreign currency accounts - include if multiple currency accounts are offered

3. Security Interest: Terms relating to any security interest over the accounts - include if accounts are being charged or pledged

4. Payment Services: Specific terms for payment services - include if payment services are part of the agreement

5. Interest and Charges: Terms relating to interest calculation and charges - include if interest-bearing accounts are offered

6. Set-off Rights: Detailed set-off provisions - include if enhanced set-off rights are required

7. Force Majeure: Detailed force majeure provisions - include if specific force majeure events need to be addressed

8. Tax Compliance: Specific tax-related provisions - include if specific tax requirements need to be addressed

Suggested Schedules

1. Account Details: List and details of all accounts covered by the agreement

2. Authorized Signatories: List of authorized signatories and specimen signatures

3. Fee Schedule: Detailed breakdown of all applicable fees and charges

4. Operating Procedures: Detailed procedures for account operation and instructions

5. Form of Notices: Standard forms for various notices under the agreement

6. Security Procedures: Detailed security and authentication procedures

7. Electronic Banking Terms: Detailed terms and conditions for electronic banking services

8. KYC Requirements: List of required KYC documents and procedures

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions















































Clauses
































Relevant Industries

Banking and Financial Services

Investment Management

Corporate Treasury

Financial Technology

Insurance

Asset Management

Infrastructure

Project Finance

Private Equity

Real Estate Investment

Regulated Industries

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Operations

Corporate Banking

Transaction Management

Company Secretarial

Client Services

Relevant Roles

Chief Financial Officer

Treasury Manager

Finance Director

Compliance Officer

Legal Counsel

Banking Relationship Manager

Account Manager

Risk Manager

Operations Manager

Financial Controller

Company Secretary

Transaction Manager

Project Finance Manager

Corporate Banking Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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