Terms of Trade

Standard terms of trade for engagements with The Accountant Online Limited

The following terms of engagement applies to all services provided by The Accountant Online Limited:

1. Performance of Engagement:

The Accountant Online Limited undertakes to perform the assignment with the due care and skill.

2. Advice:

If specific advice is requested the response shall be provided in writing on the company letterhead. If advice is given or perceived to be given and is not on the formal company letterhead, this advice should be considered general discussion (including via email), not necessarily related to the clients individual and/or specific circumstances, and should not be relied upon by any party.

3. Costs of Engagement and Cancellation of Agreement:

The Accountant Online Limited undertakes to perform the assignment to the budget as set out in the relevant service agreement. If, for whatever reason, during the engagement it becomes apparent that the time incurred and associated costs are going to be higher than indicated, The Accountant Online Limited will seek approval from the client for the additional cost, before that cost is incurred. The client may cancel the agreement at any time and all time incurred to the date of cancellation will be invoiced at the standard rate.

4. Third Party Costs:

In some circumstances The Accountant Online Limited may consider it prudent or necessary to obtain 3rd party advice, validation or clarification. All third party costs will be passed on to the client at cost price. Before any third party costs are incurred, The Accountant Online Limited will seek approval in writing from the client to incur these costs on their behalf. The Accountant Online Limited takes no responsibility for third party advice obtained on the clients behalf.

5. Invoicing:

Invoicing will generally occur at the end of the specified assignment with payment due within 7 calendar days. If the assignment spans a month end, The Accountant Online Limited reserves the right to invoice for time incurred to date to the month end, for payment within 7 calendar days.

6. Late payment:

Late payments may incur interest at a rate of 2% per month. Interest will be cumulative, calculated on any overdue amount at month end, and advised by statement of account. Any invoices that remain unpaid 1 month after the issued date may be forwarded to a debt collection agency and/or legal advisers to commence collection procedures. All and any costs incurred in the collection of the debt will be recovered from the client. Any payments made towards monies owed under debt collection will first be allocated to the debt collection costs.

7. Liability for payment:

Where invoices are issued and due for payment by a company, trust, partnership or other entity, the directors, owners, trustees and/or partners are jointly and severally liable for the debt. Debt collection procedures may be initiated against all or any of the associated parties if invoiced amounts remain unpaid.

8. Ownership of Workpapers:

Workpapers produced by The Accountant Online Limited remain the property of The Accountant Online Limited unless agreed otherwise in writing.

9. Storage of Information

The Accountant Online Limited is predominantly an online service and the transfer of information will take place online over the internet. Information may also be stored online. While The Accountant Online Limited takes all precautions to protect client information, The Accountant Online Limited takes no responsibility for loss or theft of data.

10. Tax and other payments due

The client remains solely responsible for their tax obligations including making relevant tax payments on time. Preliminary calculations are provided for the purposes of filing returns with the Inland Revenue, if Inland Revenue adjust the assessment the client remains solely responsible for the tax liability. If the client requests to peruse the Inland Revenue adjustment or raise a dispute with the Inland Revenue for the adjustment, time incurred will be charged to the client at the standard rate. Likewise, if assistance is requested in response to an IRD audit or avenue of query or verification, time incurred will be charged to the client at the standard rate.



11. Disclaimer:

The assignment will be compiled based on the information provided by the client. A compilation is limited primarily to the collection, classification and summarisation of financial information provided by the client and does not involve the verification of that information. The Accountant Online Limited accepts no responsibility for the reliability, accuracy or completeness of the compiled financial information nor do we accept any liability of any kind whatsoever, including liability by reason of negligence, to any person for losses incurred as a result of placing reliance on the compiled financial information.