Banking Information Kit

BANKING INFORMATION KIT

Service Provider Name:     Client Name:

Effective Date:

RECITALS

WHEREAS, Service Provider is engaged in the business of providing banking setup, payment processing and treasury services, and has the expertise and authority to collect and verify banking information and to initiate electronic funds transfers on behalf of the Client;

WHEREAS, Client desires to provide certain bank account information and to authorize Service Provider to act under the terms set forth in this Banking Information Kit for the purpose of establishing ACH/electronic payment instructions, direct deposit and related cash-management services; and

WHEREAS, the parties intend to document the scope, payment terms, confidentiality protections, and legal terms that will govern their banking relationship and any instructions communicated pursuant to this Kit.

SCOPE OF WORK

Service Provider will, on behalf of Client, perform the following services as applicable: collect and verify bank account data, prepare and submit ACH enrollment forms, coordinate with financial institution(s) to effectuate direct deposit or debit arrangements, advise on payment routing and remittance formats, and provide documentation necessary to support transaction initiation and reconciliation.

BANKING DETAILS (TO BE COMPLETED BY CLIENT)

Account Type: Checking Savings

AUTHORIZATION & REPRESENTATIONS

By completing and signing this Banking Information Kit, Client: (a) certifies that the banking information provided is true and correct; (b) authorizes Service Provider to use the provided information to establish electronic transfer arrangements and to communicate such information to financial institutions as necessary; and (c) acknowledges that Service Provider may rely upon the information until Client provides written notice of a change and Service Provider has had a reasonable opportunity to act on that notice.

ACH Authorization Effective Date:     Client authorizes debits and credits as described herein

Client agrees to indemnify Service Provider for losses arising from inaccurate banking information provided by Client, except to the extent such losses arise from Service Provider's gross negligence or willful misconduct.

PAYMENT TERMS

Compensation Amount:

Invoices not paid when due shall accrue interest at the rate specified above and Client shall be responsible for reasonable collection costs, including attorneys' fees, if any.

TERM AND TERMINATION

Term Start Date:     Term End Date:

Either party may terminate this Kit for convenience upon giving the other party the required notice period above. Either party may terminate immediately for material breach that is not cured within a reasonable cure period following written notice.

CONFIDENTIALITY

Each party shall maintain as confidential all non-public banking information, financial data, login credentials, and other proprietary or personally identifying information received in connection with this Kit. Confidential information shall not be disclosed except as required by law or to financial institutions and service providers performing actions contemplated by this Kit, and only to the extent necessary to perform those actions. Confidentiality obligations survive termination for a period of three (3) years.

GOVERNING LAW

This Banking Information Kit and any dispute arising out of or related to it shall be governed by and construed in accordance with the laws of the state of without regard to principles of conflicts of law.

ENTIRE AGREEMENT

This document, together with any exhibits and acknowledgments signed by the parties, constitutes the entire agreement between the parties with respect to the subject matter contained herein and supersedes all prior and contemporaneous communications and agreements, whether oral or written.

NOTICES

Sign Now