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Account Management Agreement

Account Management Agreement Template for South Africa

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Key Requirements PROMPT example:

Account Management Agreement

"I need an Account Management Agreement for our South African bank to provide corporate banking services to a multinational mining company, including forex services and multiple account management across different currencies, with the agreement to commence in March 2025."

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Document background
The Account Management Agreement serves as a crucial legal framework for establishing and managing professional account services in South Africa. This document is essential when a financial institution or service provider undertakes to manage accounts on behalf of clients, whether corporate or individual. It ensures compliance with South African financial regulations including FAIS Act, FICA, and POPIA, while clearly defining the scope of services, responsibilities, and obligations of all parties involved. The agreement typically includes detailed provisions for fee structures, service levels, reporting requirements, risk management, and data protection protocols. It's particularly relevant in the context of South Africa's sophisticated financial services sector, where regulatory compliance and professional service standards are strictly enforced.
Suggested Sections

1. Parties: Identification of the account manager and the client, including registration details and addresses

2. Background: Context of the agreement and brief description of the services to be provided

3. Definitions: Detailed definitions of terms used throughout the agreement

4. Appointment and Scope: Formal appointment of the account manager and detailed scope of services

5. Duration and Termination: Term of the agreement and circumstances under which it can be terminated

6. Account Manager's Obligations: Detailed responsibilities and duties of the account manager

7. Client's Obligations: Client's responsibilities including providing information and maintaining minimum balances

8. Fees and Payments: Fee structure, payment terms, and calculation methods

9. Reporting and Communication: Requirements for regular reporting and communication protocols

10. Compliance and Regulatory Matters: Obligations regarding FICA, FAIS, and other regulatory requirements

11. Confidentiality: Protection of confidential information and trade secrets

12. Data Protection: POPIA compliance and data handling procedures

13. Risk and Liability: Risk allocation and limitation of liability provisions

14. Force Majeure: Provisions for unforeseen circumstances and their handling

15. Dispute Resolution: Procedures for handling disputes between parties

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

Optional Sections

1. Investment Guidelines: Specific investment parameters and restrictions - include when service includes investment management

2. Foreign Exchange Services: Terms for foreign exchange services - include when dealing with international transactions

3. Online Access and Security: Terms for digital platform access - include when offering online account management

4. Sub-delegation: Terms for appointing sub-managers or delegates - include when delegation is anticipated

5. Insurance Requirements: Specific insurance obligations - include for high-value accounts or specific regulatory requirements

6. Anti-bribery and Corruption: Additional compliance terms - include for international clients or high-risk services

7. ESG Considerations: Environmental, Social and Governance terms - include when relevant to client requirements

Suggested Schedules

1. Schedule 1: Fee Schedule: Detailed breakdown of all fees, charges, and commission structures

2. Schedule 2: Service Level Agreement: Specific service standards, response times, and performance metrics

3. Schedule 3: Authorized Personnel: List of authorized representatives for both parties

4. Schedule 4: Reporting Templates: Standard formats for regular reports and communications

5. Schedule 5: Account Details: Specific accounts covered under the agreement

6. Appendix A: Compliance Requirements: Detailed regulatory compliance procedures and requirements

7. Appendix B: Data Processing Terms: Detailed POPIA compliance terms and data processing 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

Financial Services

Banking

Investment Management

Wealth Management

Corporate Services

Professional Services

Insurance

Asset Management

Private Banking

Trust Services

Relevant Teams

Legal

Compliance

Account Management

Client Services

Operations

Risk Management

Finance

Treasury

Investment Management

Corporate Banking

Private Banking

Regulatory Affairs

Relevant Roles

Account Manager

Relationship Manager

Compliance Officer

Legal Counsel

Financial Advisor

Portfolio Manager

Risk Manager

Operations Manager

Client Service Manager

Financial Director

Chief Financial Officer

Treasury Manager

Investment Manager

Corporate Banker

Private Banker

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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