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A. Requirement for Written Agreements

1. VASPs shall enter into written agreements with each client which specify the VASP’s duties and responsibilities when providing services including all VA Activities [Client Agreements].
2. VASPs must comply with Client Agreements at all times.
3. VASPs must ensure that, in addition to all applicable laws, including but not limited to consumer protection laws, all Client Agreements comply with the general requirement to act honestly, fairly and in the best interests of its clients and the integrity of the market.
4. Client Agreements must at all times be fair, transparent, accurate and not misleading. Client Agreements must be sufficiently clear to the client, having regard to the nature of the services and the intended market for such services.
5. VASPs must obtain valid acceptance from all clients entering into Client Agreements, which must be given in a form which is compliant with all applicable laws and prior to the VASP providing any VA Activities to the client.
6. VASPs must send a copy of the Client Agreement to each client after it has been entered into.
7. VASPs must notify clients of any change to Client Agreements at least thirty [30] calendar days prior to any change taking effect.
8. If VASPs have the right in any Client Agreement to be able to change a service, or any part of a service, or VA Activity, this must be made explicit in the Client Agreement.
9. VASPs must maintain a record of all versions of Client Agreements and be able to identify all changes made between versions.