The Term Deposit Guarantee agreement is utilized when a customer places a fixed-term deposit with a Belgian financial institution, requiring specific guarantee provisions for the deposited funds. This document is essential in the Belgian banking sector, where it must comply with strict regulatory requirements including the Belgian Banking Law of 2014 and EU Directive 2014/49/EU on Deposit Guarantee Schemes. The agreement is particularly relevant when depositors seek additional security beyond the standard deposit protection scheme, or when large deposits exceed standard protection limits. The Term Deposit Guarantee includes detailed provisions on the deposit terms, guarantee mechanics, claim procedures, and regulatory compliance requirements, serving as a comprehensive framework for protected term deposits in Belgium.
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1. Parties: Identification of the financial institution, depositor, and guarantor
2. Background: Context of the agreement, including the purpose of the term deposit and guarantee
3. Definitions: Definitions of key terms used throughout the agreement
4. Term Deposit Details: Specific details of the term deposit including amount, term, interest rate, and maturity date
5. Guarantee Provisions: Scope and nature of the guarantee, including conditions and limitations
6. Rights and Obligations: Detailed responsibilities of each party under the agreement
7. Interest and Payments: Terms regarding interest calculations, payment schedules, and payment methods
8. Regulatory Compliance: Compliance with relevant banking regulations and deposit protection schemes
9. Early Termination: Conditions and procedures for early termination of the deposit
10. Representations and Warranties: Standard declarations by all parties regarding their capacity and authority
11. Governing Law and Jurisdiction: Specification of Belgian law as governing law and jurisdiction for disputes
12. Execution: Signature blocks and execution formalities
1. Tax Provisions: Special tax considerations and withholding requirements, included when tax implications need specific attention
2. Multiple Beneficiaries: Additional provisions for term deposits with multiple beneficiaries
3. Currency Provisions: Specific provisions for deposits in foreign currencies, included when the deposit is not in EUR
4. Cross-Border Provisions: Additional provisions for non-Belgian residents or cross-border arrangements
5. Electronic Communications: Terms for electronic notifications and communications, included when parties agree to digital correspondence
6. Force Majeure: Provisions for extraordinary events affecting the agreement, included when specifically requested
1. Schedule 1 - Term Deposit Details: Detailed specification of the term deposit including account numbers, amounts, and interest calculations
2. Schedule 2 - Guarantee Terms: Detailed terms and conditions of the guarantee including trigger events and claim procedures
3. Schedule 3 - Fee Schedule: List of applicable fees and charges
4. Schedule 4 - Required Documentation: List of required documents for account opening and guarantee activation
5. Appendix A - Regulatory Disclosures: Mandatory regulatory disclosures and information about the deposit guarantee scheme
6. Appendix B - Specimen Signatures: Authorized signatures for account operation and instructions
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