SPECIMEN FOR A
STANDING DELEGATION CONTRACT
TO AN AUXILIARY
OF THE FINANCIAL INTERMEDIARY
between
A. (Financial Intermediary’s name or corporate firm), having its office in (address),
hereinafter referred to as the Financial Intermediary,
and
B. (Auxiliary’s name or corporate firm), having its office or domicile in (address), hereinafter
referred to as the Auxiliary,
Preamble:
The Financial Intermediary is subjected to the Swiss Anti-Money Laundering Act and
affiliated to ARIF’s Self-Regulatory Organisation. In accordance with the law and ARIF’s
Regulations, the Financial Intermediary must carry out the verification of its contracting
partners’ identity, the establishing of their beneficial owners’ identity, the renewal of these
formalities as well as the clarification of its business relationships and transactions in which it
participates.
In order to conform to these obligations, the Financial Intermediary wishes to entrust the
Auxiliary with the duty to carry out theses formalities on behalf and for the account of the
Financial Intermediary.
The Auxiliary practices in (place or region of activity) the activity of a (generic description of
the Auxiliary’s ordinary activity), and is ready to accomplish the AMLA formalities described
hereinafter on behalf and for the account of the Financial Intermediary.
In consideration thereof, the parties have agreed what follows:
Article 1: Mandate
The Financial Intermediary entrusts the Auxiliary, who accepts, with the mandate to carry out
on behalf and for the account of the Financial Intermediary the AMLA formalities described
hereinafter:
a) the verification of the identity of the Financial Intermediary’s contracting partners
according to Directive 2 of ARIF;
b) the establishing of the identity of the beneficial owners of the assets involved in the
Financial Intermediary’s business relationships according to Directive 3 of ARIF;
c) the renewal of the formalities described under a and b hereinbefore according to
Directive 4 of ARIF;
d) the clarification of the economic background of the Financial Intermediary’s business
relationships and of the transactions in which it participates, if they reveal indicia of
money laundering or every time when the Auxiliary is so requested by the Financial
Intermediary, according to Directives 5 and 9 of ARIF;
e) (Other duties to be defined).
Article 2: Remuneration
As a remuneration for its services, the Auxiliary will receive from the Financial Intermediary
a remuneration set as follows: (description of the mode of remuneration, for example on a
flat-rate basis for a determined period, or for each verification, ascertainment or clarification
effected, upon the basis of the invested time according to an hourly rate or to any other
agreement between the parties).
Article 3: Competence and training
The Auxiliary attests to the Financial Intermediary that it has sufficient competence to
execute its mandate, in particular that it knows the wording and the meaning of the AMLA
provisions and of the Regulations and Directives of ARIF, of which a copy is delivered to it at
the time of the present contract’s signature. The Auxiliary commits itself to maintain this
level of competence by attending the adequate training and keeping itself regularly informed
on the novelties in the AMLA area, in particular regarding indicia of money laundering. On
its part, the Financial Intermediary will inform the Auxiliary immediately on any modification
of the AMLA or of the Regulations and Directives of ARIF for the purpose of their
implementation.
Article 4: Due Diligence
The Auxiliary commits itself to the Financial Intermediary to execute its mandate with
greatest due diligence, in particular to carry out the verifications of identity, establishing of
the beneficial owners’ identity or AMLA clarifications carefully, not to provide the Financial
Intermediary with any information or document which do not strictly conform to the
Auxiliary’s best knowledge, not to attest the authenticity of any certified copies of documents
if it did not personally see the original thereof, and to inform without any delay the Financial
Intermediary on any indicia of money laundering which he would become aware of in its
mandate’s execution.
Article 5: Territorial validity
The Auxiliary’s mandate is restricted to the following territory: (delimit the territory, country,
city or area; see the circle of customers for whom the Auxiliary’s services will be provided).
Article 6: Handing over of documents
The Auxiliary commits itself to hand over as quickly as possible to the Financial Intermediary
in Switzerland the original documents or their copies certified by the Auxiliary, which have
been used for the verification of the identity of the Financial Intermediary’s contracting
partners or for the establishing of their beneficial owners’ identity or result from the business
relationships’ or transactions’ clarification.
Article 7: Audit
The Auxiliary is informed and accepts that the Financial Intermediary, and the Auxiliary
within its mandate’s scope, are subjected to a periodic audit in accordance with Directive 12
of ARIF, and committed to submit spontaneously and unconditionally to the investigations
decided by ARIF for the purpose of control of the AMLA obligations’ observance.
Consequently, the Auxiliary accepts to cooperate unconditionally in such audits or
investigations, if it is so requested, and to provide to this effect, without any delay, any
information or documents relating to its mandate’s execution.
Article 8: Prohibition of sub-delegation
The Auxiliary commits itself to execute its mandate personally, without being empowered to
a substitution or a delegation to third parties. In case the Auxiliary is a legal entity, the
mandate must be cogently executed personally by its bodies – being natural persons –
provided with a right of signature.
Article 9: Exclusivity clause
In the field of funds’ and assets’ transfer, the Auxiliary so delegated accomplishes this task
for one sole financial intermediary only.
Article 10: Admonishment
The Auxiliary is informed that any false allegation of facts or documents within the scope of
its mandate may constitute a criminal offence within the meaning of Swiss law and involves
its liability.
Article 11: Duration
The present contract’s duration is indefinite and may be terminated at any time by either
party. In order to implement the audit provided for in Article 7 hereinbefore, the Auxiliary
however commits itself to submit spontaneously and unconditionally to the investigations
decided by ARIF for the purpose of control of the observance of the Financial Intermediary’s
AMLA obligations during three years as from its mandate’s end.
Article 12: Place of jurisdiction and applicable law
The present contract is governed by Swiss law and subjected to the exclusive jurisdiction of
the Courts at the Financial Intermediary’s office in Switzerland or, failing this, of the Courts
of the Canton of Geneva.
Set up on …………… at ……………
The Auxiliary
The Financial Intermediary