1.1

The Applicant must meet the Acceptance Regulations applicable to the Requested Role. In order to establish whether the Applicant meets the Acceptance Regulations, the Applicant must follow the procedures set out in Articles 2, 3 and 4 of these Acceptance Regulations.

1.2

All costs incurred by the Applicant in connection with the Application shall be borne by the Applicant.

2.1

Any Institution that intends to submit an Application to perform a Role in the iDEAL Scheme must submit a request by sending in the Application Form for a Licencee or Certificate Holder (last one is also applicable voor the Accredited CPSP Role).

2.2

Any Applicant who wishes to perform a Role must submit the relevant Application Form appended to these Acceptance Regulations. This form must be completed, signed and submitted. It must be clear from the Application Form for which Requested Role the Applicant is submitting an Application. 

2.3

The Applicant will receive the documentation set for the Requested Role and then must perform a Control Self-Assessment (CSA) in accordance with the Provisionss of Article 3 at its own expense.

2.4

The documents listed in the description of the Requested Role in the iDEAL Rules & Regulations (R&R) must be submitted with the CSA.

3.1

The Applicant gives assurance to Currence that the CSA will be performed in accordance with the Certification Procedure provided by Currence and the requirements stipulated in these Acceptance Regulations.

3.2

After the CSA has been completed the Applicant must inform Currence in writing of the results of the review, and it must record these results in the CSA form which will be provided by Currence. This report must comply with (i) any general requirements pertaining to form and specific instructions issued by Currence, (ii) the requirements laid down by Currence with regard to the contents, including the Certification Procedure and (iii) the requirement that the report must be sufficiently detailed to allow Currence to gain insight into the extent to which the Applicant complies with the iDEAL R&R with respect to the requested Role.

3.3

At the moment when the Applicant submits the CSA form referred to in Article 3.2 to Currence, no more than 6 months must have lapsed since the date of receipt of the Application by Currence. If a longer period has elapsed, the Applicant must submit a new Application and repeat the procedure set out in these Regulations.

3.4

If (i) Currence finds on the basis of the assessment report that the Applicant meets the iDEAL R&R, (ii) the Applicant has, upon request, shown to the satisfaction of Currence that the assessment procedure referred to in this Article has been performed in accordance with these Acceptance Regulations, (iii) the CSA form meets the requirements it is subject to, (iv) Currence is not aware of any facts or circumstances that in the opinion of Currence would prevent the Applicant from performing the Requested Role and (v) the review (if any) referred to in Article 3.5 shows that the Applicant complies with the iDEAL R&R,  Currence will make the Applicant an irrevocable written offer to conclude an Agreement for the Requested Role. In that case, Currence will, after receiving the assessment report referred to in Article 3.2, supply the Applicant with an Agreement for the Requested Role for signing or notify the Applicant in writing that Currence is exercising its rights as set out in Article 3.5. The offer will lapse if the Agreement is not accepted in the form as submitted to the Applicant within 30 days of the date of the offer. The Provisionss of paragraph 6:225 (2) and (3) of the Dutch Civil Code are hereby expressly excluded.

3.5

On the basis of the assessment report referred to in Article 3.3, Currence will have the right – without prejudice to any other rights of Currence – to conduct a review of the extent to which the Applicant complies with the iDEAL R&R. If the review reveals that the Applicant meets the iDEAL R&R, Currence will make the offer in accordance with Article 3.4.

3.6

The Applicant is required to grant Currence and third parties contracted by Currence immediate access to all documents and reports and to the underlying information, systems, areas and individuals and the Applicant shall grant all other assistance reasonably requested which, in the opinion of Currence, is necessary in order to permit Currence to conduct the review referred to in Article 3.5.

3.7

The Applicant will be obliged to provide Currence with information without delay and, upon first request by Currence, to hand over all documents which are relevant in the view of Currence in relation to the assessment referred to in Articles 3.5 and 3.6.

4.1

If the Applicant applies for the Issuer or Acquirer Role, access to the iDEAL API Specifications is required. This enables the Applicant to investigate the possibilities and consequences of implementing (one of) these products. Interested Institutions can use the iDEAL API Specifications documents only for this purpose, any other usage is strictly forbidden. No rights can be derived from the documents. The iDEAL API Specifications can be adjusted over time, due to development or new insights. If Acquirers, Issuers or Applicants take decisions and/or make investments on the basis of the information that they obtain via the iDEAL API Specifications, Currence bears no liability for this whatsoever.

4.2

Parties with access to the iDEAL API Specifications are invited to comment on the iDEAL API Specifications and propose possible improvements or Value Added Services (VAS) for iDEAL. When Currence makes changes to a Technical Standard, this new version will be available to all subscribers automatically.

4.3

The iDEAL API Specifications are made available via the Currence Confluence environment. Access is obtained with a personal account, you receive from Currence. The Applicant is responsible for ensuring that unauthorised parties do not obtain access to its account. The documents may be downloaded, subject to these conditions.

4.4

The iDEAL API Specifications and/or paragraphs thereof may be distributed only to employees of the legal person that has lawfully signed the application form (hereinafter referred to as ‘the legal person’) on the explicit condition that the Applicant to whom the document and/or documents is/are entrusted does not circulate them further in any way. The legal person shall maintain a circulation list of the employees to whom the documents have been made available. The legal person shall provide the circulation list at the earliest request of Currence. An exception could be made to third parties if necessary for, and solely for the purpose of providing Acquirers and Issuers with an idea of the application of the iDEAL API Specifications, as described in Article 1. In that case, the legal person must arrange for the third party/parties to sign a confidentiality statement.

4.5

Currence is entitled to cancel access to the iDEAL API Specifications without announcement in case the Applicant does not act according to these terms and conditions, or in situations of bankruptcy. The usage of any documents, obtained through this subscription, is restricted to the terms of subscription.

5.1

Currence may grant full or partial exemption from the Provisionss of these Acceptance Regulations. Terms and conditions may be attached to such exemption.

6.1

All liability on the part of Currence vis-à-vis the Applicant for any (direct or indirect) loss or damage arising from or related to the Application, including the Certification Procedure described in these Acceptance Regulations, is expressly excluded, except if and to the extent that the loss or damage is the result of deliberate intent (opzet) or gross negligence (grove nalatigheid) on the part of Currence.

7.1

Each party will hold and maintain in confidence all of the other party’s Confidential Information, both during the Application and thereafter. Each party agrees that, unless required to do so by competent legal authority, it will not at any time, directly or indirectly use, communicate, deliver, disclose, reproduce or in any way authorise any of the other party’s Confidential Information to be disclosed, delivered or used by any third party in the absence of the written consent of the other party. Each party will restrict disclosure of the other party’s Confidential Information to its advisors, directors officers, employees, contractors, attorneys, auditors, affiliated entities or other agents who need to have access to the Confidential Information in relation to the iDEAL Scheme and to perform services in relation to iDEAL and otherwise to discharge the parties' obligations to each other. The Confidential Information that each party discloses to the other in relation to the iDEAL Scheme is not in any way intended to be a public disclosure, public use or publication of such Confidential Information.

7.2

The confidentiality obligation does not apply to information which (i) is or after that party received the information becomes generally available to the public through no fault of the receiving party, but only at such time as such availability occurs, (ii) is in the possession of or was known to the receiving party without restriction prior to disclosure of the information, (iii) is or was independently developed by employees or agents of the receiving party without reference to or use of any information disclosed by the disclosing party, or (iv) is approved for disclosure by the disclosing party.

7.3

Each party may use the Confidential Information of the other party only for purposes relating to the iDEAL Scheme, including but not limited to:
(i) the Provisions of iDEAL services to iDEAL Participants;
(ii) in relation to an Application or an Agreement; or
(iii) in relation to (the monitoring of) compliance with the iDEAL R&R.  

7.4

Each party will have the right to disclose Confidential Information relating to the other party to third parties where necessary for the performance of its obligations under these Acceptance Regulations and provided that these third parties have in turn given a commitment to treat this information confidentially on the same terms and conditions are provided for in this Article 6.

7.5

Each party will institute and maintain commercially reasonable security measures to prevent the unauthorised disclosure of Confidential Information, which measures shall be at least as strenuous as it would take to prevent disclosure of its own proprietary or confidential information but in no event less than reasonable care.

7.6

If either party becomes compelled by law or regulation to disclose any Confidential Information of the other party, the receiving party will provide the disclosing party with prompt written notice so that it may seek an appropriate protective order or other remedy. The receiving party may disclose the Confidential Information as provided in the protective order or, if no protective order is obtained, the receiving party may disclose any and all Confidential Information which it reasonably believes it is compelled to disclose.

7.7

Each party acknowledges and agrees that title to and ownership of each party’s Confidential Information will remain with the disclosing party, and the Application or Agreement will not be construed as granting or conferring any rights by license or otherwise in or to any Confidential Information. Confidential Information will not be removed from the disclosing party’s possession or premises by physical means or electronic transmission without the express authorisation of the disclosing party.  All Confidential Information will be returned to the disclosing party or destroyed by the receiving party (as directed by the disclosing party) along with all copies, at any time on the disclosing party’s request. The receiving party may destroy or return the Confidential Information in its possession at any time prior to the disclosing party’s request for its return or destruction.

7.8

Upon termination or expiration of the Agreement, each party will immediately cease using the other party's Confidential Information.  In addition, each party will, upon the written request of the other party, either return all Confidential Information (including materials provided to its advisors, directors, officers, employees, contractors, attorneys, auditors, affiliated entities, or other agents), or provide the other party with written certification that all Confidential Information (included materials provided to its advisors, directors, officers, employees, contractors, attorneys, auditors, affiliated entities, or other agents) has been destroyed.

7.9

The Applicant and Currence hereby undertake to make staff involved in processing the Application aware of the extent of the confidentiality obligation laid down in this article and give an undertaking to each other regarding compliance with the obligation on the part of their staff.

7.10

Without prejudice to the obligations of Currence and the Applicant to observe secrecy pursuant to this article, no Provisions in the Agreement will prevent the disclosure of information (i) to a judicial authority in connection with a dispute between Currence and the Applicant, (ii) at the request of a regulator responsible by law for overseeing the activities of Currence or the Applicant or (iii) if there is a statutory duty to do so.

8.1

Without prejudice to the agreed obligation to observe confidentiality, the Applicant will not make any announcements or statements to third parties concerning the iDEAL Scheme or Currence in connection with press releases or other forms of external communication involving the media without the prior written approval of Currence.

9.1

These Acceptance Regulations are governed by Dutch law.

9.2

Any disputes arising out of the application of these Acceptance Regulations and the acceptance procedure defined herein shall be decided exclusively by arbitration according to the Arbitration Rules of the Netherlands Arbitration Institute (‘NAI Arbitration Rules’). In the event that a party seeks immediate action, that party shall resort exclusively to summary arbitration proceedings in accordance with the NAI Arbitration Rules, unless summary arbitration proceedings cannot provide a satisfactory remedy.

9.3

Proceedings will be conducted in the Dutch language. The arbitration tribunal will sit in Amsterdam. Sessions will be held at the Currence headquarters. The tribunal will decide according to the rule of law.

9.4

The tribunal will be made up of three arbitrators. The appointment of arbitrators will take place in the manner described in the following clauses.

9.4.1

As soon as possible after receipt of the short answer referred to in Article 8 of the NAI Arbitration Rules or, in the absence thereof, upon expiry of the period for submission of the summary statement of defence, the clerk to the NAI will send each of the parties a list of nine names.

9.4.2

The list referred to in Article 8.4.1 will be compiled by the clerk to the NAI. This list will contain names of persons satisfying the appointment criteria set by the NAI and will comprise (i) three experts in the field of funds transfer, (ii) three experts in the field of audits, including IT audits, and (iii) three lawyers who have a degree in Dutch law and demonstrable experience of legal proceedings. In drawing up the list, the clerk will make use of sublists of persons satisfying the above criteria compiled by DNB and the NAI.

9.4.3

Each party will have the right to strike through not more than one of the three names in each field of expertise on the list referred to in Article 8.4.2 if the party concerned has overriding objections against those persons and also to number the remaining names in order of preference.

9.4.4

If the clerk has not had a list returned from one of the parties within 14 days of dispatch, it will be assumed that all the persons on that list are equally acceptable as arbitrators to the party concerned.

9.4.5

As soon as possible after the lists have been returned or, failing their return, after expiry of the period referred to in Article 8.4.4, the clerk, having due regard to the preferences and/or objections expressed by the parties, will invite three persons on the list, selected by the clerk, to act as arbitrators.

9.5

The clerk will have the right to directly invite one or more other persons besides those who may be invited pursuant to Article 8.4.5 if one of the following situations applies:

1. a person is unwilling or unable to accept the invitation from the clerk to act as arbitrator;

2. it is found to be impossible for a person to act as arbitrator for reasons other than those referred to under 1); or

3. an arbitrator who has already been appointed has to be replaced through the appointment of a new arbitrator;

4. there are not enough remaining names on the lists which have been returned that are acceptable to each of the parties.

In that case, the clerk will, if possible, invite persons on the aforementioned sublist.
The tribunal will always be made up of persons representing the three fields of expertise referred to in Article 8.4.2. The person representing the field of expertise referred to in Article 8.4.2 (iii) will in any case preside over the tribunal.
The appointment of the arbitrators in accordance with the Provisionss of this Article will take place within one month of a dispute having been taken to arbitration. This period can only be extended by the NAI.

9.6

The statement of claim and the statement of defence referred to in Article 23 of the NAI Arbitration Rules must each be submitted within a period of no longer than six weeks. The same applies to statements of reply and rejoinder, if made.