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The Account Bank Agreement serves as the primary contractual framework for establishing and managing banking relationships in Malaysia. It is essential for businesses and organizations requiring banking services, setting out the terms and conditions for account operation, banking services, security procedures, and regulatory compliance. The agreement ensures compliance with Malaysian banking regulations, including the Financial Services Act 2013, Islamic Financial Services Act 2013 (where applicable), and other relevant legislation. It typically includes provisions for conventional and electronic banking services, account access and security, fee structures, reporting requirements, and operational procedures. This document is particularly important for organizations with complex banking needs, multiple accounts, or specific regulatory requirements, providing a comprehensive framework for the bank-client relationship while ensuring adherence to Malaysian banking laws and regulations.

1. Parties: Identifies the contracting parties - typically the Account Bank and the Account Holder

2. Background: Sets out the context and purpose of the agreement

3. Definitions and Interpretation: Defines key terms and establishes interpretation principles

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

5. Account Opening and Operation: Procedures for opening and operating the accounts

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

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

8. Fees and Charges: Banking fees, charges and payment terms

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

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

11. Representations and Warranties: Standard banking and regulatory representations

12. Compliance and Regulatory Matters: Compliance with laws, regulations and reporting requirements

13. Confidentiality: Protection of confidential information

14. Data Protection: Compliance with PDPA and data handling requirements

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

16. Force Majeure: Provisions for unforeseen circumstances

17. Termination: Terms for ending the agreement

18. Governing Law and Jurisdiction: Choice of Malaysian law and jurisdiction

19. General Provisions: Standard boilerplate clauses