Merchant Agreement

Merchant Agreement Template for Denmark

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Document background

The Merchant Agreement is a critical commercial contract used when a business needs to establish a formal relationship with a payment service provider to process customer payments. This agreement, governed by Danish law, sets out the comprehensive framework for payment processing services, including operational procedures, fees, security requirements, and regulatory compliance obligations. It is essential for businesses operating in Denmark that need to accept various payment methods, whether in-person or online. The agreement must comply with Danish financial regulations, particularly the Danish Payments Act (Betalingsloven), EU Payment Services Directive 2 (PSD2), GDPR, and other relevant Danish and EU legislation. It includes specific provisions for data protection, consumer protection, anti-money laundering compliance, and financial security measures required under Danish law.

Suggested Sections

1. Parties: Identification of the merchant and the payment service provider, including full legal names, registration numbers, and addresses

2. Background: Context of the agreement, including the merchant's business nature and desire to accept payments through the service provider

3. Definitions: Definitions of key terms used throughout the agreement, including technical payment terms and service-specific terminology

4. Scope of Services: Detailed description of payment processing services to be provided, supported payment methods, and service levels

5. Merchant Obligations: Core responsibilities of the merchant, including compliance with payment scheme rules, security standards, and operational requirements

6. Service Provider Obligations: Core responsibilities of the payment service provider, including service delivery, support, and maintenance

7. Fees and Payment Terms: Pricing structure, payment terms, settlement periods, and related financial arrangements

8. Security Requirements: Security protocols, PCI DSS compliance requirements, and data protection measures

9. Chargebacks and Disputes: Procedures for handling customer disputes, chargebacks, and refunds

10. Term and Termination: Duration of the agreement, renewal terms, and termination provisions

11. Liability and Indemnification: Allocation of risks, limitation of liability, and indemnification obligations

12. Confidentiality: Protection of confidential information and trade secrets

13. Data Protection: GDPR compliance and data processing terms

14. General Provisions: Standard legal provisions including governing law, jurisdiction, entire agreement, and amendments

Optional Sections

1. Integration Services: Technical integration requirements and processes, included when the service provider offers integration support

2. Currency Conversion: Terms for multi-currency processing and conversion, included for cross-border merchants

3. Equipment Rental: Terms for POS terminal rental and maintenance, included when physical payment terminals are provided

4. Value-Added Services: Additional services such as fraud detection or analytics, included when merchant subscribes to these services

5. Service Level Agreement: Detailed performance metrics and remedies, included for larger merchants requiring specific service levels

6. Marketing and Branding: Requirements for displaying payment service provider's logos and branding, included when required by the provider

7. Reserve Requirements: Terms for maintaining a reserve account, included for high-risk merchants or specific business types

Suggested Schedules

1. Schedule 1 - Pricing Schedule: Detailed breakdown of all fees, charges, and payment terms

2. Schedule 2 - Technical Specifications: Technical requirements, API documentation, and integration guidelines

3. Schedule 3 - Service Level Requirements: Detailed service levels, response times, and performance metrics

4. Schedule 4 - Supported Payment Methods: List of all supported payment methods and associated terms

5. Schedule 5 - Security Requirements: Detailed security protocols, PCI DSS requirements, and compliance checklist

6. Schedule 6 - Processing Countries: List of countries where services are provided and any country-specific terms

7. Appendix A - Definitions: Extended list of defined terms and technical terminology

8. Appendix B - Contact Information: Key contacts for both parties for various purposes (technical, legal, operational)

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