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Account Management Agreement for the United Kingdom

Account Management Agreement Template for England and Wales

An Account Management Agreement is a legally binding contract governed by the laws of England and Wales that establishes the terms and conditions under which account management services will be provided. It outlines the responsibilities of both parties, service levels, fee structures, reporting requirements, and compliance obligations under UK financial regulations. The agreement includes provisions for data protection, confidentiality, and regulatory compliance while establishing clear parameters for service delivery and relationship management.

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Account Management Agreement

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What is a Account Management Agreement?

The Account Management Agreement serves as the primary contractual framework for establishing and maintaining professional account management relationships in England and Wales. This document is essential when a service provider takes on the responsibility of managing accounts, whether financial, client, or business accounts, on behalf of another party. It encompasses crucial elements such as service scope, performance metrics, regulatory compliance requirements, data protection measures, and risk management protocols. The agreement is particularly important in regulated industries where clear documentation of responsibilities and service parameters is required by law.

What sections should be included in a Account Management Agreement?

1. Parties: Identification and details of the contracting parties

2. Background: Context and purpose of the agreement, including regulatory status of parties

3. Definitions: Key terms used throughout the agreement, including regulatory and financial terms

4. Services: Detailed description of account management services and scope

5. Fees and Payment: Payment terms, fee structure, and billing arrangements

6. Obligations of the Parties: Responsibilities of both service provider and client, including regulatory compliance

7. Term and Termination: Duration of agreement and circumstances for termination

8. Confidentiality: Protection of confidential information and data security requirements

9. Liability and Indemnification: Limitations of liability and indemnification provisions

10. Regulatory Compliance: Compliance with applicable financial regulations and laws

What sections are optional to include in a Account Management Agreement?

1. Service Levels: Specific performance metrics and standards for complex service arrangements

2. International Services: Additional provisions for cross-border services and international compliance

3. Force Majeure: Provisions for unforeseen circumstances affecting service delivery

4. Anti-Money Laundering: Specific provisions for AML compliance and procedures

5. Dispute Resolution: Specific procedures for handling disputes between parties

What schedules should be included in a Account Management Agreement?

1. Fee Schedule: Detailed breakdown of fees, charges, and payment terms

2. Service Level Agreement: Detailed performance metrics and reporting requirements

3. Data Processing Agreement: Terms for handling personal data under UK GDPR

4. Contact Details and Escalation Procedure: Key personnel contacts and issue escalation protocol

5. Reporting Requirements: Format, content, and frequency of account reporting

6. Compliance Procedures: Detailed procedures for regulatory compliance and reporting

Authors

Alex Denne

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

Jurisdiction

England and Wales

Cost

Free to use
Relevant legal definitions



















Clauses






















Industries

Financial Services and Markets Act 2000 (FSMA): Primary legislation governing financial services regulation in the UK, establishing regulatory framework and requirements for financial activities

Financial Services Act 2012: Reformed the UK financial regulatory structure, establishing the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)

Regulated Activities Order 2001: Specifies which activities require FCA authorization and regulation in the context of financial services

Consumer Rights Act 2015: Consolidates consumer protection legislation, covering unfair terms, digital content, and services

Consumer Contracts Regulations 2013: Governs distance selling and off-premises contracts, including information requirements and cancellation rights

Unfair Contract Terms Act 1977: Controls unfair terms in contracts, particularly exclusion and limitation clauses

Consumer Protection from Unfair Trading Regulations 2008: Prohibits unfair commercial practices between traders and consumers

UK General Data Protection Regulation (UK GDPR): Post-Brexit data protection legislation governing the processing of personal data in the UK

Data Protection Act 2018: Implements and supplements the UK GDPR, providing the framework for data protection in the UK

Privacy and Electronic Communications Regulations (PECR): Governs electronic communications, including marketing, cookies, and privacy in electronic services

Money Laundering Regulations 2017: Sets out anti-money laundering and counter-terrorist financing requirements for regulated firms

Proceeds of Crime Act 2002: Criminal law regarding money laundering and proceeds of crime, including reporting obligations

FCA Handbook: Complete set of FCA rules and guidance for regulated firms

Conduct of Business Sourcebook (COBS): FCA rules governing conduct of business, particularly regarding client relationships and communications

Client Assets Sourcebook (CASS): FCA rules on handling and protecting client money and assets

Common Law Contract Principles: Fundamental principles of contract law including offer, acceptance, consideration, and intention to create legal relations

Misrepresentation Act 1967: Governs false statements made during contract formation and provides remedies for misrepresentation

Electronic Communications Act 2000: Provides legal framework for electronic signatures and electronic communications in contracts

Electronic Commerce Regulations 2002: Implements EU E-Commerce Directive, governing electronic contracts and online service providers

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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