Account holders on your platform must provide additional information if this is part of the following legal agreements. Update an existing account holder and send the information you received from them to the legalArrangements board. Adyen supports various legal arrangements for account holders operating in the following countries. If Adyen is unable to verify the identity of the other members of the legal agreement, you must also upload documents for the member identified by the legalArrangementEntityCode. Partnership The account holder, together with one or more legal entities (associates), manages, operates and shares the profits of his joint venture. The account holder is responsible in whole or in part for the debts of the company. Account holders who are part of a legal agreement must provide the following additional information. Adyen uses the information to perform automatic reviews of the legal agreement and other parties involved. For example, in a partnership where the other partner is a private company, Adyen conducts a corporate audit. If the checks fail, Adyen may require the account holder to provide a document proving the legal agreement. You can take into account account account holders with legal agreements by: With the exception of associations, the country in which the legal agreement was concluded may differ from the country of the account holder. Information provided by account holders will be part of the verifications.
Failure to declare legal agreements may result in suspension of account withdrawals and suspensions. The API response and webhooks contain the legalArrangementCode generated by Adyen and the legalArrangementEntityCode, which you can use to update entries or upload documents. Account holders who do business with Adyen on behalf of another company specified in a contractual agreement must also provide information about their agreement. We call contractual agreements legal agreements. Association The account holder, together with one or more shareholders, manages and shares the profits of the company in accordance with the agreed articles of association. Requests with /updateAccountHolder are processed asynchronously. You`ll get a response to your API request, but you`ll need to rely on notification webhooks to know the final result of a request. Below is an example of how you`ll update an existing account holder to include information about their association. To upload a document, make a POST /uploadDocument request that specifies :. . . The document must prove the contractual agreement of the account holder such as a registration or constitutional document.
Here`s an example of how you`ll update an existing account holder to include information about a trust relationship. In this example, the trust has two additional members: a business creator and an individual protector. If the account holder is a partner who does business on behalf of the association, he must provide the following: Sole proprietorship The person is registered as a sole proprietor, operates the business himself and is personally liable for the debts of the sole proprietorship […].