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Document Description
This Service Agreement - Financial Advising Agreement is a legally binding document that outlines the terms and conditions between the Servicer and the Customer. The agreement highlights the importance of engaging the Servicer's financial advisory services and the obligations of both parties.
The agreement begins with an interpretation section, defining key terms and providing general provisions. It clarifies that the agreement applies to individuals, corporations, and partnerships, and that the headings are for convenience only. The agreement also specifies that any reference to an enactment or statutory provision includes any amendments or modifications.
The Servicer's obligations are detailed in Section 2. The Servicer agrees to provide the financial advisory services to the Customer in a professional and diligent manner, using efforts comparable to industry standards. The Servicer also commits to complying with all applicable laws and regulations, including anti-bribery and corruption laws and data protection regulations. The agreement states that any services outside the defined scope will require a separate agreement.
Section 3 outlines the Customer's obligations. The Customer agrees to provide truthful and relevant information to the Servicer and to respond to all correspondence in a timely manner.
Section 4 emphasizes the importance of completing the work on time. It states that time is of the essence and that the Servicer must perform all obligations promptly. If the services are not completed by the agreed completion date, the Customer may grant an extension, and if applicable, may be entitled to liquidated damages.
Section 5 addresses service fees and payment terms. The Customer agrees to pay the Servicer a service fee for the services rendered, and the Servicer will invoice the Customer prior to the payment date. Late payments will incur a 3% per month late charge. The Servicer may also incur expenses related to the services, and the Customer agrees to reimburse these expenses.
Section 6 requires the Servicer to affirm that all its employees have passed comprehensive background checks and have no criminal history or listing on any sex-offender registry.
Section 7 states that the Servicer must obtain necessary licenses and maintain appropriate insurance coverage. The Customer may verify this information before the services are performed.
Section 8 outlines warranties and indemnities. The Servicer must promptly notify the Customer of any delays, problems, or complaints related to the services. The Customer must report any defects in the Servicer's performance. The Servicer must rectify any defaults and provide further services if necessary.
Section 9 specifies the term and termination of the agreement. The agreement may have a fixed term or continue indefinitely until the completion of services. Either party may terminate the agreement with written notice, and termination may occur for various reasons, including non-payment or failure to proceed diligently with the services.
Section 10 addresses ownership of materials and intellectual property. Materials delivered to the site become the property of the Customer, and any intellectual property developed under the agreement becomes the sole property of the Customer. The Servicer may not use the Customer's intellectual property without written consent.
Section 11 requires the parties to keep the terms of the agreement and any confidential information confidential, except in certain specified circumstances.
Section 12 restricts the parties from making any announcements or disclosures without the prior written approval of the other party, except as required by law.
Section 13 states that any variation of the agreement must be in writing and signed by the parties. Variations do not constitute a general waiver of any provisions and do not affect rights and obligations that have already accrued.
Section 14 prohibits the assignment or sub-contracting of the agreement without the prior written consent of the other party.
Section 15 includes a severability clause, stating that if any provision of the agreement is held to be illegal, void, or unenforceable, it shall be deemed not to be included, but the remaining provisions shall remain in full force and effect.
Section 16 requires the parties to perform all further acts and execute any further documents necessary to implement and give effect to the agreement.
Section 17 contains a warranty of capacity and power, stating that each party has the authority, power, and capacity to enter into and carry out its obligations under the agreement.
Section 18 addresses force majeure, stating that none of the parties shall be liable for any failure or delay in performing their obligations due to causes outside their reasonable control.
Section 19 clarifies that the agreement does not confer any rights under contracts for third parties.
Section 20 encourages the parties to resolve disputes amicably and in good faith. It does not specify a jurisdiction for arbitration or the proper law governing the agreement.
Section 21 outlines the requirements for notices and service. It specifies the methods of delivery and the addresses of the parties.
Section 22 allows the agreement to be executed in any number of counterparts, with each counterpart constituting an original document.
This Service Agreement - Financial Advising Agreement is a comprehensive document that protects the interests of both the Servicer and the Customer. It establishes clear obligations, payment terms, and termination provisions, ensuring a mutually beneficial relationship between the parties.
How to use this document?
To use this Service Agreement - Financial Advising Agreement, follow these steps:
1. Review the agreement: Read the entire agreement carefully to understand the terms and conditions, obligations, and payment terms.
2. Customize the agreement: Modify the agreement as necessary to reflect the specific details of the financial advising services and the parties involved. Update the names, addresses, and contact information of the Servicer and the Customer.
3. Define the services: Clearly describe the financial advisory services to be provided by the Servicer. Specify the scope of work and any limitations.
4. Specify the completion date: Determine the agreed completion date for the services. If necessary, include provisions for extending the completion date.
5. Determine the service fee: Agree on the service fee to be paid by the Customer for the services rendered. Specify the payment schedule and any late payment charges.
6. Address expenses: Discuss and agree on any additional expenses that may be incurred by the Servicer. Determine the process for reimbursement and the need for prior consent for expenses exceeding a certain limit.
7. Background checks and insurance: Ensure that the Servicer has conducted comprehensive background checks on its employees and maintains appropriate licenses and insurance coverage.
8. Confidentiality: Understand and agree to keep the terms of the agreement and any confidential information confidential, except as required by law.
9. Termination: Familiarize yourself with the termination provisions and the circumstances under which either party may terminate the agreement. Ensure that termination is done in accordance with the agreed notice period.
10. Ownership of materials and intellectual property: Clarify the ownership of materials and intellectual property developed under the agreement. Ensure that the Servicer does not use the Customer's intellectual property without written consent.
11. Notices and service: Follow the specified methods for delivering notices and ensure that the correct addresses and contact information are used.
12. Execution: Sign the agreement in counterparts, with each party retaining an original copy.
By following these steps, you can effectively use this Service Agreement - Financial Advising Agreement to establish a clear and mutually beneficial relationship between the Servicer and the Customer.
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