Terms and Conditions of Outsourcing Agreement

Terms and Conditions of Outsourcing Agreement

CLIENT'S AGREEMENT AND RESPONSIBILITIES 

This applies to all our outsourcing services:

(1) It is the client's responsibility to provide complete, accurate, and correct Source Documents on a daily timely basis to our office. Each month Source Documents must be provided within the month to facilitate timely data-entry by our Accountants. Client is still responsible for monthly fee regardless of whether Source Documents is sent. Your company or the assigned employees must fax or mail source documents like Bill, Invoices, AR Check copy/Deposit Slips, Bank Statements, Credit Cards Statement etc., to us and clients agrees to follow the system put in place by Accountiviti Inc at the beginning of this contract.  Source Documents sent after the actual month will be entered at our Accountants own schedule and we are not responsible for penalties and interest that may be charged by governmental authorities for being late.

(2) Client is to open and review the bank statements arriving from the bank for each month. Client is to review all check disbursements and verify that client has signed for all the disbursements. Client?s company is responsible for verifying all cash receipts and all deposits including any credit card deposits on the bank statement, before providing the bank statement to our firm. Client must make sure that all Income is being deposited in the business bank accounts provided to our firm and that any un-deposited fund must be deposited into the bank account next business day.

(3) Accountiviti will charge the client's credit card on file on the 1st day of each month for the monthly fee plan selected or for any other outsourcing services provided on their due dates. If credit card is decline it will automatically be re-process every 24 hours and after the third try the account will be put on hold until another means of payment is provided and all data entry for source documents provided will be suspended. Data entry will not resume until payment for the month in which work is to be done is presented. Client agrees to hold Accountiviti Inc harmless of any potential penalties, interest, or other damage incurred due to the suspension of services.

(4) Client understands that all the accounting and bookkeeping work, including data entry may be performed by any staff accountants, accountants, controllers and CPA's or a combination thereof. All our outsourcing services are supervised by professional accountants and controllers and our tax services are done by or supervise by professional accountants.

Back-up of Data File: Accounting Desktop platform reside in a secured Data-Center within the USA and all our client's data files are back-up daily to prevent data-loss. Clients are also responsible to back-up their data-file into their local drive at the end of each week and each month. This will serve, as an additional back-up provision that guarantees that your company data file is always available to you in case of unforeseen situations like terrorist attack, earthquake, and natural disaster etc.

Arbitration Clause: Any dispute arising out of this outsourcing agreement will be decided by independent arbitrators. Both Firm and Client expressly agree not to have any disagreement heard in a court of law and to have any disputes resolved by an arbitrator acceptable to both parties. If no agreement is reachable on an Arbitrator, the services of the American Institute of Arbitrators will be used, the fee of which will be paid by the loosing party.

Warranty: Accountiviti warranties cover only the scope of the specific services per this agreement. In case of data-loss or errors, we shall provide the available last-day back-up file to replace the original files. Our warranty cover only the re-creation of data file due to error or loss caused by us and do not cover any data creation errors or mistakes caused by clients employees. Our liability is limited to data file re-creation only.

Firm and Client acknowledge that this is a month-to-month agreement and both parties agreed that this agreement might be cancelled anytime with a written one-month notice. There is no refund of subscription fees paid for cancellation of agreement in the middle of the month or before the end of contract, and all cancellation will be effective on the 1st day of the next month. Accountiviti Inc reserves the right to refuse service to anyone with or without cause. Client signature below or the receipt of your initial setup fee and 1st monthly subscription payment verifies that client agrees to all the terms of this service agreement.

Client's Signature_____________________________________________