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Trust Operating Agreement
"I need a Trust Operating Agreement for a UAE-based family office operating in DIFC, with specific provisions for Islamic finance compliance and multi-generational wealth management, to be effective from March 2025."
1. Parties: Identification of all parties including the trustee, trust manager, and any other key operational parties
2. Background: Context of the trust operation and purpose of the agreement
3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and interpretation rules
4. Appointment and Authority: Formal appointment of the trust operator and scope of authority
5. Duties and Responsibilities: Core responsibilities of the trust operator including administrative, financial, and fiduciary duties
6. Operational Procedures: Standard operating procedures for trust administration and management
7. Compliance Requirements: Regulatory compliance obligations including AML/CFT requirements
8. Reporting and Records: Requirements for financial reporting, record-keeping, and communications
9. Fees and Expenses: Fee structure, payment terms, and allowable expenses
10. Risk Management: Risk management framework and control measures
11. Confidentiality: Confidentiality obligations and information handling requirements
12. Term and Termination: Duration of the agreement and termination provisions
13. Governing Law and Jurisdiction: Applicable law and jurisdiction for dispute resolution
1. Investment Management: Required when the trust operator has investment management responsibilities
2. Delegation of Duties: Include when certain duties may be delegated to third parties
3. Special Purpose Vehicle Management: Needed when the trust involves management of SPVs
4. Multi-jurisdiction Operations: Required for trusts operating across multiple jurisdictions
5. Islamic Finance Compliance: Include for Shariah-compliant trust operations
6. Co-trustee Provisions: Required when multiple trustees are involved
7. Insurance Requirements: Detailed insurance obligations for high-value or complex trusts
8. Force Majeure: Specific provisions for handling unforeseen circumstances
1. Schedule 1 - Fee Schedule: Detailed breakdown of all fees, charges, and payment terms
2. Schedule 2 - Operating Procedures Manual: Detailed operational procedures and workflows
3. Schedule 3 - Reporting Templates: Standard forms and templates for regular reporting
4. Schedule 4 - Compliance Checklist: Regulatory compliance requirements and checklist
5. Schedule 5 - Key Personnel: List of key personnel and their roles/responsibilities
6. Schedule 6 - Service Level Agreement: Detailed service levels and performance metrics
7. Appendix A - Power of Attorney: Standard form of power of attorney if required
8. Appendix B - Account Opening Forms: Standard forms for opening trust accounts
9. Appendix C - AML/KYC Requirements: Detailed AML/KYC procedures and requirements
Authors
Applicable Law
ADGM
Authorized Person
Authorized Signatory
AML Policy
Beneficiary
Business Day
Compliance Manual
Confidential Information
Control Measures
Custodian
DIFC
Due Diligence Requirements
Effective Date
Fees Schedule
Force Majeure Event
Governing Law
Investment Guidelines
Investment Manager
Key Personnel
Management Fee
Operating Procedures
Operational Controls
Performance Report
Regulatory Authority
Reporting Period
Risk Management Framework
Service Level Standards
Settlor
Shariah Board
Termination Date
Trust
Trust Assets
Trust Bank Account
Trust Deed
Trust Documentation
Trust Manager
Trust Operator
Trust Property
Trust Register
Trust Services
Trustee
UAE
UAE Central Bank
Authority
Duties and Powers
Trust Administration
Investment Management
Asset Custody
Compliance
Anti-Money Laundering
Record Keeping
Reporting
Fees and Expenses
Indemnification
Confidentiality
Data Protection
Risk Management
Delegation
Performance Standards
Service Levels
Account Management
Audit Rights
Insurance
Force Majeure
Amendment
Assignment
Termination
Dispute Resolution
Governing Law
Notices
Severability
Entire Agreement
Financial Services
Wealth Management
Private Banking
Family Office Services
Corporate Services
Asset Management
Investment Services
Trust Services
Private Equity
Real Estate Investment
Islamic Finance
Legal
Compliance
Risk Management
Trust Administration
Operations
Finance
Investment Management
Client Relations
Company Secretarial
Due Diligence
Trust Manager
Compliance Officer
Legal Counsel
Risk Manager
Trust Administrator
Operations Director
Chief Operating Officer
Investment Manager
Relationship Manager
Company Secretary
Head of Trust Services
Financial Controller
Due Diligence Officer
Trust Account Manager
Managing Director
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