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Certificate Of Deposit Agreement
"I need a Certificate of Deposit Agreement for a £500,000 deposit with a 2-year fixed term, including early withdrawal provisions and quarterly interest payments, to be used with our corporate banking client in Leeds."
1. Parties: Identification of the financial institution and depositor
2. Background: Context of the deposit arrangement and regulatory framework
3. Definitions: Key terms used throughout the agreement including deposit, interest rate, maturity date
4. Deposit Terms: Principal amount, currency, term length, and deposit confirmation details
5. Interest Calculation: Method and frequency of interest calculation and payment terms
6. Maturity Terms: Conditions at maturity including rollover options and repayment procedures
7. Bank's Obligations: Responsibilities of the financial institution including safekeeping and repayment
8. Depositor's Representations: Confirmations and warranties from the depositor regarding the funds
9. Governing Law: Specification of English and Welsh law as governing law and jurisdiction
1. Early Withdrawal: Terms and conditions for early withdrawal including penalties and notice requirements
2. Additional Deposits: Provisions for making additional deposits during the term, if permitted
3. Tax Provisions: Specific tax implications, withholding requirements and reporting obligations
4. Assignment and Transfer: Conditions under which the deposit certificate may be assigned or transferred
5. Electronic Communications: Terms governing electronic notifications and communications
1. Interest Rate Schedule: Detailed breakdown of applicable interest rates and calculation methods
2. Fee Schedule: Comprehensive list of applicable fees, charges and penalties
3. FSCS Information Sheet: Standard information about deposit protection under the Financial Services Compensation Scheme
4. Terms and Conditions: Detailed terms and conditions including regulatory requirements and bank policies
Authors
Business Day
Certificate of Deposit
Depositary Institution
Deposit Amount
Deposit Date
Depositor
Early Withdrawal
Early Withdrawal Penalty
Effective Date
FCA
FSCS
Interest Payment Date
Interest Period
Interest Rate
Maturity Date
Minimum Deposit Amount
PRA
Principal
Regulatory Authority
Renewal Date
Renewal Period
Term
Transaction Account
Working Day
Interest
Maturity
Early Withdrawal
Representations and Warranties
Account Operations
Fees and Charges
Term and Renewal
Default Events
Notice Requirements
Assignment and Transfer
Regulatory Compliance
FSCS Protection
Amendments
Governing Law
Jurisdiction
Force Majeure
Severability
Entire Agreement
Counterparts
Data Protection
Anti-Money Laundering
Tax Compliance
Third Party Rights
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