Service Agreement - Financial Advising Agreement

The Service Agreement - Financial Advising Agreement is a document that outlines the terms and conditions between the servicer and the customer for the provision of financial advisory services. The document begins with an interpretation section, defining key terms and providing general guidelines for the agreement. It then proceeds to outline the obligations of the servicer, including the provision of services in a professional and diligent manner, compliance with laws and regulations, and the need for a separate agreement for any services outside the scope defined in the document. The customer's obligations are also specified, such as being truthful with the servicer and providing all relevant information in a timely manner.

 

The document emphasizes the importance of completing the work within the agreed-upon timeframe, with provisions for extensions if necessary. It also addresses the service fees, invoicing, and payment terms, including late charges for overdue payments. The servicer is responsible for keeping records of expenses and providing itemized invoices to the customer. Dispute resolution procedures are outlined, and the customer's responsibility for supplying necessary supplies and equipment is specified.

 

Background checks, licenses, and insurance requirements are addressed to ensure the servicer's credibility and compliance with legal and regulatory obligations. The document includes warranties and indemnities, with provisions for rectifying any defects in the services and limitations on the servicer's liability. The term and termination of the agreement are defined, including provisions for termination by either party under certain circumstances.

 

Ownership of materials and intellectual property rights are addressed, with the servicer granting the customer a license to use the deliverables and services. Confidentiality obligations are outlined, with exceptions for certain circumstances. The document also covers announcements and publicity, amendment procedures, assignment restrictions, and severability of provisions. Further assurance and warranty of capacity and power are included to ensure the parties' commitment to fulfilling their obligations.

 

Force majeure provisions protect the parties from liability in case of unforeseen circumstances beyond their control. The document clarifies that it does not confer any rights to third parties. Arbitration and proper law clauses provide guidance for dispute resolution, and notice and service provisions specify the methods and timelines for communication between the parties. The document can be executed in multiple counterparts, with each counterpart considered an original.

How to use this document?

1. Provide information: Enter the Contractor's and Customer's information in the agreement, including their principal place of business. This ensures that both parties are clearly identified.

2. Specify the scope of services: Clearly describe the financial advisory services to be provided by the servicer. This ensures that both parties are aware of the nature of the services.

3. Define obligations: Outline the obligations of the servicer, including providing services in a professional and diligent manner, compliance with laws and regulations, and the need for a separate agreement for additional services. Also, specify the customer's obligations, such as being truthful and providing relevant information in a timely manner.

4. Agree on completion date: Set a completion date for the services to be carried out by the servicer. If necessary, include provisions for extensions.

5. Determine service fees: Establish the service fee payable by the customer for the services rendered. Include a schedule for payment and specify any late charges for overdue payments.

6. Record expenses: The servicer should keep an exact record of any expenses incurred while performing the services. Invoices should itemize each expense and include proof of purchase and receipt.

7. Dispute resolution: Establish procedures for resolving disputes, including the customer's obligation to notify the servicer of any disputes and the parties' commitment to resolving disputes in good faith.

8. Background checks and insurance: Ensure that the servicer has conducted comprehensive background checks on its employees and maintains the necessary licenses and insurance coverage.

9. Warranties and indemnities: Specify the servicer's obligations to rectify any defects in the services and limit its liability. Also, include provisions for the customer to indemnify the servicer against any liabilities arising from the services.

10. Term and termination: Define the duration of the agreement and the conditions under which either party can terminate the agreement.

11. Ownership of materials: Clarify the ownership of intellectual property rights and grant the customer a license to use the deliverables and services.

12. Confidentiality: Establish obligations for both parties to keep the terms of the agreement and any confidential information confidential, with exceptions for certain circumstances.

13. Amendment: Specify that any variations to the agreement must be in writing and signed by both parties.

14. Assignment: Prohibit the customer from assigning the agreement or sub-contracting the performance without the servicer's written consent.

15. Severability: Include a provision that invalidates any illegal or unenforceable provisions but does not affect the remaining provisions.

16. Further assurance: Require the parties to perform any further acts or execute additional documents necessary to implement the agreement.

17. Warranty of capacity and power: Represent and warrant that each party has the authority and capacity to enter into and fulfill its obligations under the agreement.

18. Force majeure: Specify that neither party will be liable for any failure or delay in performing its obligations due to circumstances beyond its control.

19. No rights for third parties: Clarify that the agreement does not confer any rights to third parties.

20. Arbitration and proper law: Encourage the parties to resolve disputes amicably and specify the jurisdiction and applicable law for any legal proceedings.

21. Notices and service: Establish the methods and timelines for serving notices between the parties.

22. Counterparts: Allow the agreement to be executed in multiple counterparts, with each counterpart considered an original.