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The Money Transfer Agreement serves as the primary contractual document for financial institutions and service providers offering money transfer services in the Philippines. It is essential for businesses engaged in domestic and international fund transfers, ensuring compliance with Philippine regulations including the Anti-Money Laundering Act (RA 9160), BSP Circular 706, and the Electronic Commerce Act (RA 8792). The agreement typically addresses key operational aspects such as transaction procedures, service fees, compliance requirements, and risk allocation, while incorporating necessary safeguards for consumer protection and data privacy. This document is particularly crucial in the Philippine context due to the country's significant remittance market and strict regulatory framework for financial services.

1. Parties: Identification of the parties: the money transfer service provider and the customer, including complete legal names and addresses

2. Background: Context of the agreement, including the money transfer service provider's licenses and authorizations

3. Definitions: Key terms used throughout the agreement, including technical and regulatory terminology

4. Scope of Services: Detailed description of the money transfer services being provided, including types of transfers, currencies, and geographical coverage

5. Service Fees and Charges: Comprehensive breakdown of all fees, charges, and exchange rate calculations

6. Anti-Money Laundering Compliance: Obligations regarding AML compliance, including KYC requirements and transaction monitoring

7. Transaction Procedures: Step-by-step process for initiating, processing, and completing transfers

8. Customer Obligations: Customer's responsibilities including providing accurate information and maintaining minimum balances

9. Service Provider Obligations: Provider's commitments regarding service delivery, security, and compliance

10. Security and Authentication: Security measures and authentication procedures for transactions

11. Privacy and Data Protection: Handling of personal data in compliance with the Data Privacy Act

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

13. Term and Termination: Duration of agreement and circumstances for termination

14. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction for disputes