Common use of Mandatory information Clause in Contracts

Mandatory information. For the initiation or execution of a payment order, the Customer must provide the following information to the Bank: payer’s name; payer’s address; payer’s IBAN code; beneficiary’s name; beneficiary’s address; beneficiary’s IBAN/BBAN code2/account number of the beneficiary; name of the beneficiary’s bank; SWIFT code of the beneficiary’s bank3; payment details; payment amount; payment currency; payment order issuance date; payment frequency (in case of standing order); commission code.

Mandatory information. For the initiation or execution of a payment order, the Customer must provide the following information to the Bank: payer’s name; payer’s address; payer’s IBAN code; beneficiary’s name; beneficiary’s address; beneficiary’s IBAN/BBAN code2/account number of the beneficiary; name of the beneficiary’s bank; SWIFT code of the beneficiary’s bank3; payment details; payment amount; payment currency; payment order issuance date; payment frequency (2 BBAN - Basic Bank Account Number. BBAN is used by countries which do not have IBAN or by some countries in case which the use of standing order); commission codeIBAN is optional.