The Deposit Account Control Agreement (DACA) is a crucial document in secured financing transactions under Swiss law, typically used when a lender requires security over the borrower's bank accounts. This agreement is essential in establishing the secured party's control over the specified accounts while balancing the operational needs of the account holder and the administrative requirements of the account bank. The document addresses key aspects such as account operation, control mechanisms, notification requirements, and the rights and obligations of all parties involved. It is particularly relevant in the context of larger financing transactions where account control is a key component of the security package. The agreement must comply with Swiss banking regulations, including requirements under the Swiss Banking Act and related ordinances, while also considering practical aspects of account management and control.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
Alternatively...
1. Parties: Identification of the account holder (debtor), secured party (creditor), and account bank
2. Background: Context of the agreement, including reference to the underlying credit facility or security arrangement
3. Definitions: Definitions of key terms used throughout the agreement
4. Account Control and Security: Establishment of control over the account and security interests
5. Account Bank's Rights and Obligations: Duties of the account bank, including compliance with instructions and maintaining the account
6. Notice of Exclusive Control: Process and effects of secured party issuing a notice of exclusive control
7. Representations and Warranties: Key statements of fact and assurances from each party
8. Instructions and Notices: Procedures for giving instructions and notices regarding the account
9. Fees and Expenses: Account bank's fees and allocation of expenses
10. Indemnification: Indemnification obligations of the parties
11. Term and Termination: Duration of the agreement and termination procedures
12. Miscellaneous: Standard provisions including governing law, jurisdiction, amendments, and notices
1. Securities Account Provisions: Additional provisions when the controlled account includes securities (required if agreement covers securities accounts)
2. Foreign Currency Accounts: Special provisions for accounts held in currencies other than Swiss Francs
3. Multiple Account Provisions: Additional provisions when agreement covers multiple accounts
4. Internet Banking Access: Provisions regarding online banking access and control
5. Subsidiary Account Holder Provisions: Additional provisions when the account holder is a subsidiary of a larger corporate group
6. Agent Provisions: Required when the secured party is acting as an agent for multiple lenders
1. Account Details Schedule: List and details of all accounts subject to the agreement
2. Authorized Persons Schedule: List of persons authorized to give instructions on behalf of each party
3. Form of Notice of Exclusive Control: Template for the notice to be sent by secured party to establish exclusive control
4. Form of Termination Notice: Template for notice to terminate the agreement
5. Fee Schedule: Details of the account bank's fees and charges
6. Operating Procedures: Detailed procedures for account operation and instruction processing
Authors
Find the document you need
Deposit Return Letter
A Swiss law-governed letter confirming the commitment to return a specified deposit, outlining return conditions and payment terms.
Download
Security Deposit Return Form
A Swiss-compliant form documenting the return of rental security deposits, including inspection results and any deductions, in accordance with Swiss tenancy law.
Download
Certificate Of Deposit Form
A Swiss law-governed banking document establishing terms and conditions for a certificate of deposit, including deposit details, interest terms, and regulatory compliance requirements.
Download
Bank Direct Deposit Form
A Swiss-compliant banking form that establishes and authorizes automatic direct deposits into a specified bank account under Swiss banking regulations.
Download
Payroll Direct Deposit Form
A Swiss-compliant form for setting up automatic salary deposits to employee bank accounts, adhering to local banking and data protection regulations.
Download
Deposit Account Control Agreement
A Swiss law-governed tripartite agreement establishing control over bank accounts as security for financing arrangements.
Download
Automatic Deposit Form
A Swiss-compliant banking form for establishing automatic deposit arrangements between banks and clients, governed by Swiss banking and data protection laws.
Download
Employee Direct Deposit Form
A Swiss-compliant authorization form for setting up direct salary deposits into employee bank accounts, meeting Swiss banking and privacy regulations.
Download
Direct Debit Authorization Form
A Swiss-compliant authorization form enabling automatic payment collection from bank accounts, governed by Swiss banking regulations and interbank clearing rules.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your data is private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
