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Document Description
The Bookkeeping Service Agreement is a legally binding document that outlines the terms and conditions between the Accountant (Party 1) and the Client (Party 2) for the provision of bookkeeping services. This agreement is important as it establishes the contractual relationship between the parties and sets out the rights and obligations of each party.
The agreement begins with definitions and interpretation, clarifying the meaning of certain terms used throughout the document. It also states that the agreement is effective from the date and will continue until terminated in accordance with the terms of the agreement.
The contractual relationship section (Clause 2) states that the Client appoints the Accountant as its bookkeeper, and the Accountant agrees to perform the services set forth in the agreement. It also specifies that any service outside the scope defined in the agreement will require a new agreement.
The Services section (Clause 2) outlines the scope of services to be provided by the Accountant. It emphasizes that the Accountant's authority to bind the Client is limited to the services defined in the agreement and that no employer-employee relationship is created between the parties.
The Service Fees section (Clause 3) states the rate at which the Client will pay the Accountant for the services rendered. It also specifies the invoicing and payment terms, including late charges for overdue payments and the reimbursement of expenses incurred by the Accountant.
The Liabilities and Indemnities section (Clause 4) limits the Accountant's liability for failure to perform duties unless such failure is material and a result of gross negligence or willful default. It also includes an indemnification clause, stating that the Client will indemnify the Accountant against any liabilities arising from acting as the Client's bookkeeper.
The Term and Termination section (Clause 5) specifies the duration of the agreement and the right of the Accountant to terminate the agreement with written notice.
The Variation and Severability section (Clause 6) states that any amendment or variation of the agreement must be in writing and duly executed by both parties. It also clarifies that if any provision of the agreement is invalid or unenforceable, it will not affect the validity of the remaining provisions.
The Counterparts section (Clause 7) allows the agreement to be executed in multiple counterparts, with each counterpart considered an original.
The Governing Law and Jurisdiction section (Clause 8) specifies the jurisdiction for any disputes arising from the agreement.
The Notices and Service section (Clause 10) outlines the requirements for giving notice under the agreement, including the methods of delivery and the deemed time of service.
Overall, this Bookkeeping Service Agreement is essential for establishing the terms and conditions of the bookkeeping services to be provided by the Accountant to the Client, ensuring clarity and protection for both parties.
How to use this document?
1. Review the definitions and interpretation section to understand the meaning of certain terms used throughout the agreement.
2. Familiarize yourself with the contractual relationship section to understand the roles and responsibilities of both parties.
3. Read the services section to determine the scope of services to be provided by the Accountant and ensure that it aligns with your requirements.
4. Review the service fees section to understand the rate of payment and the invoicing and payment terms.
5. Understand the liabilities and indemnities section to be aware of the limitations on the Accountant's liability and the Client's obligation to indemnify the Accountant.
6. Read the term and termination section to understand the duration of the agreement and the right of the Accountant to terminate the agreement.
7. Familiarize yourself with the variation and severability section to understand the requirements for amending the agreement and the effect of invalid provisions.
8. Understand the counterparts section to know that the agreement can be executed in multiple counterparts.
9. Review the governing law and jurisdiction section to understand the applicable law and jurisdiction for any disputes.
10. Finally, familiarize yourself with the notices and service section to understand the requirements for giving notice under the agreement.
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