This Accounting Services Agreement is entered on /12/2018 into by and between" 1. AFAQ ACCOUNTING, a Firm established and exiting in Emirate of Dubai, United Arab Emirates
refer hereinafter as (the Accountant) and
2. M/s a Company established and exiting in Emirate of Dubai United Arab Emirates
refer hereinafter as (the Client)
WHEREAS the Client wishes to retain the Accountant for providing an accounting and bookkeeping services and the accountant has the professional license in United Arab Emirates to provide such services. AND WHEREAS the Client agrees to engage and compensate the Accountant as an independent contractor for these services, and the Accountant agrees to provide such services.
THEREFORE, in consideration of the terms and conditions detailed in this Accounting Services Agreement, the receipt, understanding, and approval of which is duly acknowledged through signature from both parties below, all parties to this contract agree to the following:
Article (1) Performance Accountant hereby agrees that he shall follow the highest professional standards in performing all Services to be provided under this Agreement.
Article (2) Service The accountant will provide the client with following services • Journal Entries • Invoicing and Purchase order issuing. • VAT Report Generating. • Full Financial Statement Reporting. • Payroll recording. • Receipts recording.
Article (3) Material & Data Access The Client agrees to provide the Accountant with full access to all financial accounts and records. Client will be solely responsible to supply the Accountant all information, materials, data, and documents necessary to perform the Services agreed under this Agreement. Client acknowledges and agrees that the accuracy of financial information supplied to Accountant is the sole responsibility of the Client. Accountant shall not be held responsible for the production of inaccurate financial statements, records and billings, or any other financial reports if the financial data submitted by the Client is inaccurate.
Article (4) Contract Term This accounting services agreement is considered effective as of sign it, and shall proceed for one year and will be renewed by mutually approval until cancelled by either party.
Article (5) External Accountant The Client agrees to engage the Accountant as an External Accountant. The Accountant shall not be considered an employee, broker, or tax agent of the client.
Article (6) Fees and Payment The Client agrees to pay amount of AED monthly to the Accountant for the services provided and the Accountant shall provide an invoice to the Client for services rendered every 30 calendar days. Each invoice shall be paid in full by the Client within 15 days of issuance.
Article (7) Confidentiality The Accountant agrees to consider all Client data and information as sensitive, and confidential in nature. As such, the Accountant shall not share such information with any party without express written consent from the Client, unless otherwise required to do so by law.
Article (9) Contract Termination Either party may cancel this Accounting Services Agreement by providing 30 days’ written notice to the other party via certified mail. If this contract is cancelled, any services rendered (but not yet invoiced) will be invoiced per the payment terms of this agreement.
Article (10) Liability The Client agrees to indemnify and hold the Accountant harmless against any and all claims of loss or damage, save for cases of the Accountant’s gross negligence or willful misconduct.
Article (10) Terminate Either party may terminate this Agreement by providing thirty (15) days written notice in this regard to the other party.
Article (10) Jurisdiction This Accounting Services Agreement shall be governed and interpreted accordance with the laws of Dubai Courts, United Arab Emirates.
IN WITNESS WHEREOF, the parties have signed this Agreement as of the date first set forth above.