The Council and the European Parliament have given the Commission the power to decide, on the basis of Article 26 (4) of directive 95/46/EC that certain standard contractual clauses offer sufficient safeguards as required by Article 26 (2), that is, they provide adequate safeguards with respect to the protection of the privacy and fundamental rights and freedoms of individuals and as regards the exercise of the corresponding rights.The Commission has so far issued two sets of standard contractual clauses for transfers from data controllers to data controllers established outside the EU/EEA and one set for the transfer to processors established outside the EU/EEA.
Source: Model Contracts for the transfer of personal data to third countries – European Commission