Following the initial onboarding phases, partners requiring BNB registration undergo additional legal procedures managed exclusively by the Legal team. The BNB application preparation process spans seven to fourteen days, during which the Legal team compiles comprehensive application materials and forwards the complete document package to external legal experts for thorough review before official submission to the Bulgarian National Bank.
Concurrent with the application process, Legal teams draft Terms and Conditions over a period of one to three weeks. This phase requires close coordination with Project Management teams who provide final, Risk and Finance-approved fee structures and account/card limits for end users. The Legal team integrates these specifications into a comprehensive Tariff document that becomes both part of the Terms and Conditions and an attachment to the agent agreement.
A critical governance step involves the Legal team's responsibility for submitting both the Terms and Conditions and Tariff documents to the Paynetics Board for review and approval. For Paynetics AD (PAD) partners specifically, these approved documents serve as the foundation for subsequent BNB notification requirements, ensuring full regulatory compliance throughout the registration process.
This comprehensive process ensures thorough evaluation, risk assessment, and proper integration of new partners while maintaining regulatory compliance and operational efficiency across all Paynetics departments.
The Partner is responsible for submitting the required documents for the BNB registration as stated in the checklist provided by Paynetics.