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Funds Transfer Agreement Template for Indonesia

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Key Requirements PROMPT example:

Funds Transfer Agreement

"I need a Funds Transfer Agreement between our fintech company PT Digital Payments Indonesia and Bank Central Asia (BCA) for domestic transfers only, with specific provisions for real-time payment processing and mobile app integration."

Document background
The Funds Transfer Agreement serves as a critical legal framework for establishing and governing the relationship between financial institutions and their clients in Indonesia for the purpose of conducting secure and regulated fund transfers. This document is essential when setting up formal arrangements for recurring fund transfer services, whether for domestic or international transfers, and is particularly relevant in the context of Indonesia's evolving financial services landscape. The agreement must comply with various Indonesian regulations, including Bank Indonesia Regulation No. 14/23/PBI/2012 on Fund Transfer and Law No. 3 of 2011 on Fund Transfer, while incorporating necessary provisions for anti-money laundering compliance and electronic transaction security. It is commonly used by banks, financial institutions, and payment service providers when establishing relationships with corporate clients, merchants, or other financial institutions that require regular fund transfer capabilities.
Suggested Sections

1. Parties: Identification of the parties entering into the agreement, including full legal names, registration numbers, and addresses

2. Background: Context of the agreement and the intention of the parties to establish a funds transfer arrangement

3. Definitions: Definitions of key terms used throughout the agreement

4. Scope of Services: Detailed description of the funds transfer services to be provided

5. Service Requirements: Technical and operational requirements for the funds transfer service

6. Security Procedures: Security measures and protocols for authenticating and processing transfer requests

7. Instructions and Authorization: Process for initiating transfers and providing authorization

8. Fees and Charges: Details of all applicable fees, charges, and payment terms

9. Compliance Requirements: Obligations to comply with Indonesian banking laws and anti-money laundering regulations

10. Risk Allocation: Distribution of risks and responsibilities between the parties

11. Representations and Warranties: Standard representations and warranties from both parties

12. Confidentiality: Provisions for protecting confidential information

13. Term and Termination: Duration of the agreement and conditions for termination

14. Dispute Resolution: Procedures for resolving disputes under Indonesian law

15. Governing Law: Specification of Indonesian law as the governing law

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

Optional Sections

1. International Transfers: Additional provisions for cross-border transfers, needed when international transfers are part of the service scope

2. Currency Conversion: Terms for currency conversion services, required when transfers involve multiple currencies

3. Special Account Provisions: Specific terms for special types of accounts or specialized transfer services

4. Agent Banks: Terms governing relationships with correspondent or agent banks, needed when third-party banks are involved

5. Electronic Banking Services: Additional terms for electronic banking interfaces, required when offering online or mobile transfer services

6. Force Majeure: Specific force majeure provisions beyond standard terms, particularly relevant for critical transfer services

7. Data Protection: Enhanced data protection provisions, necessary when handling sensitive personal data

8. Business Continuity: Detailed business continuity and disaster recovery terms, important for high-volume or critical transfer services

Suggested Schedules

1. Schedule 1 - Service Level Agreement: Detailed service levels, response times, and performance metrics

2. Schedule 2 - Fee Schedule: Detailed breakdown of all fees, charges, and commission structures

3. Schedule 3 - Security Protocols: Detailed security procedures and authentication requirements

4. Schedule 4 - Authorized Personnel: List of authorized personnel and signature specimens

5. Schedule 5 - Technical Requirements: Technical specifications for systems and connectivity

6. Schedule 6 - Forms and Templates: Standard forms for transfer requests and other operational documents

7. Appendix A - Compliance Checklist: Checklist of regulatory compliance requirements

8. Appendix B - Contact Information: Contact details for key personnel and escalation procedures

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

Relevant legal definitions



















































Clauses







































Relevant Industries

Banking

Financial Services

Financial Technology

Payment Services

E-commerce

Retail

Insurance

Investment Management

Corporate Services

International Trade

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Operations

Account Management

Payment Operations

Corporate Banking

Transaction Banking

Relevant Roles

Chief Financial Officer

Treasury Manager

Finance Director

Compliance Officer

Legal Counsel

Banking Operations Manager

Payment Services Director

Risk Manager

Financial Controller

Account Manager

Operations Director

Banking Relationship Manager

Corporate Treasury Specialist

Regulatory Compliance Manager

Transaction Banking Head

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, 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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