Credit Service Agreement Template for Germany

The Credit Service Agreement is a crucial document used when establishing a formal relationship between a credit service provider and their client under German law. It is particularly relevant when financial institutions or licensed credit service providers offer credit-related services, including credit assessment, arrangement, or management. The agreement must comply with strict German banking regulations, particularly the Banking Act (KWG) and Civil Code (BGB), while incorporating necessary consumer protection measures. This document is essential for businesses seeking professional credit services and for financial institutions providing such services, as it establishes clear operational parameters, regulatory compliance frameworks, and risk management procedures. The agreement typically includes detailed provisions about service scope, fee structures, compliance requirements, and data protection measures in accordance with German and EU regulations.

1. Parties: Identification of the credit service provider and the client, including registration details as required by KWG

2. Background: Context of the agreement and brief description of the credit services to be provided

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

4. Scope of Services: Detailed description of credit services to be provided, including any limitations

5. Service Provider's Obligations: Obligations of the credit service provider, including regulatory compliance requirements

6. Client's Obligations: Client's responsibilities, including information provision and cooperation requirements

7. Fees and Payment Terms: Detailed fee structure, payment schedule, and calculation methods as per PAngV requirements

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

9. Confidentiality: Confidentiality obligations and information handling requirements

10. Data Protection: GDPR compliance provisions and data processing terms

11. Anti-Money Laundering: AML compliance requirements and procedures

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

13. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction

14. Miscellaneous: Standard boilerplate provisions including severability and entire agreement