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The Recurring Payment Contract is essential for businesses operating in England and Wales that collect regular payments from customers or clients. This contract type is specifically designed to comply with UK payment regulations, including the Payment Services Regulations 2017 and relevant consumer protection laws. It provides a comprehensive framework for managing recurring transactions, protecting both parties' interests, and ensuring clear terms for payment collection, modification, and termination. The document is particularly relevant in today's subscription-based economy and is adaptable to various payment frequencies and methods.

1. Parties: Identification of contracting parties and their details

2. Background: Context and purpose of the recurring payment arrangement

3. Definitions: Key terms used throughout the agreement

4. Payment Terms: Amount, frequency, and method of recurring payments

5. Duration: Term of the agreement and renewal provisions

6. Termination: Conditions for ending the agreement

7. Data Protection: Handling of personal and payment data

8. Governing Law: Jurisdiction and applicable law