Money Transfer Contract Template for Netherlands

A Money Transfer Contract is essential for businesses and financial institutions operating in the Netherlands that provide or require money transfer services. This document is designed to comply with Dutch financial regulations, including the Financial Supervision Act (Wft) and the Money Laundering and Terrorist Financing Prevention Act (Wwft), as well as relevant EU directives such as PSD2. The contract establishes the legal framework for executing domestic and international money transfers, defining the rights, obligations, and liabilities of all parties involved. It includes crucial provisions for regulatory compliance, security measures, fee structures, and operational procedures. The agreement is particularly important for financial institutions, payment service providers, and businesses engaging in regular financial transactions within the Dutch legal framework.

1. Parties: Identification of the money transfer service provider and the client, including registration details and licenses

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

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

4. Service Scope: Detailed description of the money transfer services, including currencies, territories, and transaction limits

5. Fees and Charges: Structure of fees, exchange rates, and other applicable charges

6. Execution of Transfer Orders: Process and requirements for initiating and executing money transfers

7. Compliance Requirements: KYC, AML, and other regulatory compliance obligations for both parties

8. Security Measures: Security protocols, authentication requirements, and fraud prevention measures

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

10. Liability and Indemnification: Allocation of risks and responsibilities between parties

11. Term and Termination: Duration of the agreement and termination provisions

12. Governing Law and Jurisdiction: Confirmation of Dutch law application and jurisdiction for disputes