Client Engagement Letter for the Provision of Bookkeeping/Accounting/Tax Services of Baby Basic Outfits Represented By Mr.Sachin Ahuja
Agreement Execution Date: 30/07/2020
Contents
1. Scope of Work
2. Contact Point
3. Fees of Business Associate
4. Period of Agreement
SERVICE LEVEL AGREEMENT
This Agreement is executed by and between Meru Accounting and Baby Basic Outfits, represented by Mr. Sachin Ahuja, hereinafter referred to as Client. For brevity’s sake, the term Client shall, unless the context otherwise requires, mean and include its permitted assigns and successors-in-interest.
AND
Meru Accounting, represented by Mr. Harnish Shah, having its office in India, hereinafter referred to as the Business Associate. For brevity’s sake, the term Business Associate shall, unless the context otherwise requires, mean and include its permitted assigns and successors-in-interest.
The purpose of this agreement is to create and enhance a mutually beneficial business relationship between Meru Accounting and its Client. It defines the level of service provided by the Business Associate under the agreement between the Business Associate and the Client.
NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:
- Scope of Work:
The Business Associate will diligently perform all accounting and related services required by the Client. Meru Accounting will provide comprehensive bookkeeping services for Baby Basic Outfits, ensuring all financial transactions are accurately recorded. Regular management reports will be delivered to the Client each month, giving insights into the financial health of the business. Additionally, the Business Associate will offer tax advisory services, including the preparation and filing of tax returns, ensuring compliance with tax regulations. The Business Associate will also be available to provide consultation and support for any accounting or tax-related queries the Client may have, offering expert guidance as needed.
- Contact Point: Meru Accounting shall give contact details of the Client service Manager Client can contact the manager during designated office hours by any of the following means:
- Fees of Business Associate:
- Remuneration of the Business Associate:
The Business Associate shall raise an invoice every month for the services rendered, providing details of the work done during the month. Invoices for the services will be raised every month, and the Client is required to make the payment in advance via NEFT (National Electronic Funds Transfer) from an Indian bank account. The payment must be made within the first five days of each month.
- Subscription Fees for Software:
If any software subscription is required for the services, the fees for such software will be billed separately and are not included in the fixed monthly fee. The Client will be notified about these fees in advance.
- Late Payment Penalties:
In the event of delayed payment, the Business Associate reserves the right to apply a late fee of 2% per month on any outstanding balance after the due date.
- Client work:
Both parties agree that:
The Business Associate shall not solicit the clients of Baby Basic Outfits independently or on behalf of any other business during the tenure of this agreement.
The Client agrees not to solicit any employees of Meru Accounting during this agreement or for one year after the termination of this agreement, either for employment or as independent contractors.
Both parties acknowledge that maintaining confidentiality and avoiding conflicts of interest is crucial to the success of this partnership.
- Period of Agreement:
- Duration of Agreement:
This agreement represents the operational understanding between the Client and the Business Associate. It shall remain in effect for twelve (12) months from the date of execution. After the initial period, the agreement can be extended by mutual written consent of both parties.
- Review and Amendments:
The agreement will be reviewed annually to ensure the continued relevance and effectiveness of the services provided. Any amendments or adjustments to the scope of work, fees, or other terms shall be mutually agreed upon and documented in writing.
- Termination of Agreement:
Either party may terminate this agreement by providing written notice to the other party. The termination notice must be given at least 30 days before the intended termination date. The terminating party is not required to provide any specific reason for the termination.
Upon termination, any outstanding fees for services rendered up until the date of termination shall be settled by the Client.
- Force Majeure:
Neither party shall be liable for any delay or failure to perform any obligation under this agreement due to any event or circumstance beyond their reasonable control, including but not limited to, natural disasters, war, or government regulations.
