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The EFT Agreement serves as the primary contractual framework for electronic fund transfer services in Qatar, establishing the rights, obligations, and operational parameters between financial institutions and their customers. This document is essential when implementing electronic payment solutions, whether for corporate or individual clients, and must comply with Qatar Central Bank regulations and Qatar's Electronic Transactions Law (Law No. 16 of 2010). The agreement covers crucial aspects such as transaction authorization, security measures, processing timeframes, fee structures, and dispute resolution procedures. It's designed to accommodate both local and international transfers while ensuring compliance with Qatar's anti-money laundering regulations and data protection requirements. The EFT Agreement is particularly relevant in Qatar's rapidly evolving digital banking landscape, where electronic payments are becoming increasingly prevalent across all business sectors.

1. Parties: Identification of the financial institution and the customer (individual or entity) entering into the EFT agreement

2. Background: Context of the agreement and the EFT services being provided

3. Definitions: Detailed definitions of technical and legal terms used throughout the agreement

4. Services Description: Detailed description of the EFT services, including types of transfers permitted, channels, and processing times

5. Authorization and Security: Requirements for transaction authorization, security procedures, and authentication methods

6. Fees and Charges: Comprehensive fee structure, including transaction fees, currency conversion fees, and other applicable charges

7. Customer Obligations: Customer responsibilities regarding account maintenance, security measures, and notification requirements

8. Bank Obligations: Bank's responsibilities in processing transfers, maintaining security, and providing support

9. Transaction Limits: Daily, monthly, or per-transaction limits for different types of transfers

10. Processing Times and Cut-off Times: Timeframes for processing different types of transfers and daily cut-off times

11. Error Resolution and Disputes: Procedures for reporting and resolving errors, unauthorized transactions, and disputes

12. Liability and Indemnification: Allocation of liability between parties and indemnification provisions

13. Data Protection and Privacy: Handling of personal data and compliance with Qatar's data protection laws

14. Term and Termination: Duration of the agreement and conditions for termination by either party

15. Governing Law and Jurisdiction: Specification of Qatar law as governing law and jurisdiction for disputes