How is KYC Compliant defined in a legal contract?
- KYC Compliant means a party who has provided all the necessary information as requested by the lenders to confirm their identity, abided by the rules of anti-terrorism and anti-money laundering, who would not cause any lender to be in breach of these rules and guidelines should they establish a banking relationship with the lender. Seen in 66 SEC filings.
- KYC Compliant means a party who has given all required information to the lenders as part of the ""Know Your Customer"" process and other related anti-money laundering laws and policies, and who would not result in any lender failing to comply with any such rules and regulations. Seen in 4 SEC filings.
- KYC Compliant means an entity who has satisfied all information requests from the lenders for things like ""Know Your Customer"" and other anti-terrorism, anti-money laundering rules, and related policies. This entity will not result in any lender being in violation of such rules and regulations if they were to enter a banking relationship with the said lender. Seen in 1 SEC filing.
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- KYC Compliant means an entity that has provided all required information and complied with anti-money laundering and anti-terrorism guidelines, not risking a lender's adherence to these standards upon forming a banking relationship.
Relevant Contract Types
- Banking Contracts
- Loan Agreements
- Financial Services Contracts
- Merger Contracts
- Joint Venture Agreements
Relevant Circumstances
- When establishing banking relationships
- During the negotiation of loan and credit agreements
- Upon entering financial services agreements
- When setting up joint ventures
- Merging with or acquiring other companies
Relevant Sectors
KYC Compliant means an entity that has provided all required information and complied with anti-money laundering and anti-terrorism guidelines, not risking a lender's adherence to these standards upon forming a banking relationship
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