This agreement portrays our standard terms and conditions (“Terms and Conditions”) which is related to our provision of services being offered to you. By visiting or using our website you agree to be in the conformity with the terms and conditions present in this agreement. In the event of any discrepancy between the engagement letter and this Terms and Conditions, the engagement letter will prevail.
For the purposes of this Terms and Conditions, any reference to “we,” “our,” “firm,” or “us” is a direct reference to I&P Bindra, and any mentioning of “you,” or “your” is a reference to the other party/parties that have connected with us to offer services. References to “Agreement” mean the engagement letter or any other written letter depicting the extent of services, any other attachments included therein, and this Terms and Conditions.
Our firm’s practice needs payment of the retainer upon the execution of this Agreement. Our billing is based on the nature and complexity of the work performed plus our professional time and out-of-pocket expenses. The retainer will be applied to the full and final billing and any unused amount will be refunded back towards the end of the engagement.
We will charge you for our professional fees and out-of-pocket expenses upon the submission of our work to you. Payment is expected prior to electronic submission, or mailing, of your tax return(s). In the event we do not receive the payment by the due date, you will be liable to interest charges of 18% per month on the unpaid balance.
We claim all authority to suspend or abort our work for non-payment of charges. If our work is suspended or aborted, you concur that we will not be liable for your inability to comply with governmental and other deadlines, for any fine/penalties or interest that may be assessed against you resulting from your inability to fulfil such deadlines, and for any other damages (including but not restricted to significant, indirect, lost gains, or punitive damages) acquired because of the suspension or abortion of our services.
In order to ease our services to you, we may transmit information over the Internet, or save electronic data through the means of computer software applications hosted remotely on the Internet or using cloud-based storage capacity. Your private electronic information may be transferred or stored by utilizing these methods. We may utilize the third party service providers to save or transmit this information, for instance, providers of tax return preparation software. In utilizing the mentioned data communication and storage techniques, our firm utilizes measures that are intended to maintain the information safe and secure. We make every possible effort to keep such communications and electronic information secure in conformity with our obligations under pertinent laws, guidelines, and professional standards. We expect our third-party vendors to do likewise.
You perceive and acknowledge that we have no control over the illegitimate interference or breach of any communications or electronic information once it has been transferred or if it has been subject to unauthenticated access while stored, despite all reasonable security measures utilized by us or our third-party vendors. You concur to our utilization of these electronic gadgets and applications and submission of client’s private data to third party service providers in the course of this engagement.
If you choose to transfer your confidential data to us in a way other than a secure communication, you acknowledge obligation for any and all unauthenticated access to your confidential data. If you request that we transfer private data to you in a way other than a secure communication, you concur that we are not accountable for (a) any loss or damage of any nature, regardless of whether direct or indirect, that may emerge as a result of our sending private information in a way other than a secure communication, and (b) any damages emerging because of any virus being passed on or with, or emerging from any adjustment of, any email message
In the interest of upgrading our accessibility to meet your professional service needs while keeping up the service quality and timeliness, we may utilize a third-party service provider to help us in the arrangement of services to you, which may incorporate receipt of your private data. This provider has built up great procedures and controls intended to ensure client privacy and maintain information security. As the paid provider of professional services, our firm remains liable for practicing reasonable care in offering such types of services, and our work product will be subjected to our firm's standard quality control strategies.
By agreeing to the terms and conditions of our engagement, you are giving your assent and permission to reveal your confidential data to a third-party service provider, if such revelation is important to deliver professional assistance or offer support services to our firm.
When offering services to your company, we will be working as an independent contractor and in no way will we or any of our working representatives be an officer of you, nor will our relationship be that of joint venture’s, partners, principal and agent, boss and employee, or any similar relationship giving boost to a fiduciary obligation to you.
Record Retention and Ownership
We will give you back all of your original records and files that you gave to us at the end of the engagement. Your records are the essential records for your activities and contains the backup and support for your work product. Our duplicates of your records and files are not a replacement or alternative for your own records and do not mitigate your record retention duty under any pertinent laws or guidelines.
Workpapers and other archives made by us are our property and will stay in our control. Duplicate copies are not to be shared without your written request and our prior written permission. Our workpapers will be kept by us in conformity with our firm’s record retention policy and any pertinent legal and regulatory requirements. A duplicate copy of our record retention policy is accessible as per request.
Our firm remnants workpaper documents after a time of 8 years. Catastrophic events or physical crumbling may result in damage to or eradication of our firm’s records, making the records to be inaccessible prior the expiration of the retention time frame as mentioned in our record retention policy.
Working Paper Access Requests by Regulators and Others
State, federal and foreign regulators may demand access to or duplicates of specific workpapers pursuant to pertinent legal or regulatory necessities. Demands also may emerge concerning to peer review, an ethics investigation, or the sale of our bookkeeping practice. If asked for, authorization to such workpapers will be given under the supervision of firm faculty. Regulators may demand duplicates of chosen workpapers to distribute the duplicate copies or data contained in that to other people, including other governmental agencies.
If we receive a request for duplicate copies of the chosen workpapers, given that we are not restricted from doing so by pertinent laws or regulations, we concur to let you know of such request as soon as practicable. You may, within the time frame allowed for our firm to answer to any request, begin such legal activity as you consider suitable, at your sole cost, to attempt to restrict the revelation of data. If you make no move within the time frame allowed for us to react or reply, or if your action does not result in a legal order shielding us from providing requested data, we may understand your inaction or failure as assent to comply with the request.
If we are not a party to the proceeding in which the data is looked for, you concur to repay us for our professional time and expenses, plus the charges and expenses of our legal assistance, incurred in replying to such requests. This section will survive end of this Agreement.
Summons or Subpoenas
All data you give to us regarding this engagement will be kept by us on a strictly confidential basis.
If we get a summons or subpoena which our legal representative decides requires us to deliver documents from this engagement or affirm about this engagement, given that we are not restricted from doing as such by pertinent laws or regulations, we concur to let you know of such summons or subpoena as soon as practicable. You may, within the time frame allowed for our firm to reply to any request, begin such legal action as you consider suitable, at your sole costs, to attempt to restrict disclosure. In the event if you make no move within the allowed time frame for us to react, or if your action does not result in a legal order shielding us from providing requested data, we may interpret your inaction or failure as assent to comply with the request.
If we are not a party to the proceeding in which the data is looked for, you concur to repay us for our professional time and costs, as well as the fees and charges of our legal guidance, incurred in replying to such requests. This section will survive end of this Agreement.
We may send newsletters, email messages, interpretations of technical advancements or similar communications to you. These correspondences are of a general nature and should not be interpreted as professional counsel. We may not send every single communication to you. These communications neither proceed a client relationship with you, nor do they establish guidance or an attempt on our part to supervise issues for you.
Our services under this Agreement do not comprise of legal or investment counsel except if explicitly consented to in the Engagement Objective and Scope area of this Agreement. We suggest that you hold legal guidance and investment advisors to offer such advice.
Over the span of offering services to you, you may demand referrals to lawyers, brokers, investment experts or other professionals. We may distinguish an expert or experts for your consideration. However, you are answerable for evaluating, choosing, and holding any professional and deciding whether the expert can fulfil your needs. You concur that we have no obligation for and will not supervise the activities of any expert to whom we refer you.
If you give our firm with duplicate copies of brokerage (or investment advice) statements and/or read-only authorization to your accounts, we will utilize the data exclusively for the reason described in the Engagement Objective and Scope segment of the engagement letter. We will depend on the precision of the data given in the statements and will not embrace any activity to confirm this data. We will not supervise transactions, investment activity, give investment guidance, or monitor the activities of the entity or people entering into transactions or investment activities on your behalf. We suggest that you receive and attentively examine all statements upon receipt and escalate any queries related to your account activity to your banker, broker or investment advisor.
If you encounter income, loss or expense from a business or supplemental income or loss, the reporting or informing essentials of federal and state income tax specialists apply to such income, loss or expense. You are liable for consenting with all pertinent laws and regulations relating to such operations, including the categorization of workers as employees or self-employed contractors and related payroll tax and withholding essentials.
Internal Revenue Code §7525, Confidentiality Privileges Related to Taxpayer Communication, gives a constrained secrecy benefit applying to tax advice included in taxpayer communications with federally approved tax specialists in certain restricted situations.
This privilege is restricted in few significant respects. For instance, this benefit does not apply to your records, which you are needed to hold in support of your tax return. Moreover, the benefit does not apply to state tax issues, private civil litigation proceedings, state tax proceedings, or criminal proceedings.
While we will coordinate with you concerning the privilege, attesting the privilege is your duty. Inadvertent revelation of otherwise privileged data may bring about a waiver of the privilege. Please reach us instantly if you have any queries or need further information about this CPA-client privilege.
We may discuss with you our opinions in regards to the treatment of specific items or choices you may encounter. We may likewise give you data in an email. Any advice or data conveyed verbally or in an email (rather than through a memorandum sent as an email attachment) will be based upon restricted research and a constrained conversation and examination of the underlying facts. Extra research or a more complete examination of the facts may influence our analysis and conclusions.
Due to these constraints and the related risks, it may or may not be suitable to continue with any decision exclusively on the basis of any verbal or email correspondence. You acknowledge all obligation, except to the extent caused by our gross carelessness or stubborn misconduct, for any loss, cost or expense resulting from your choice (i) not to have us conduct the research and analysis significant to arrive at a more definitive conclusion and (ii) to instead depend on n verbal or email correspondence. The restriction in this paragraph will not apply to an item of written counsel that is a deliverable of a different engagement. If you want to connect with us to offer formal guidance on a matter on which we have either communicated orally or via email, we will affirm this service in a different engagement letter.
While I&P Bindra can give help and suggestions, you are liable for management decisions and operations, and for assigning an individual with appropriate skill, knowledge and expertise to regulate any services that I&P Bindra offers. You are liable for assessing the competency and results of the services performed and accepting duty for such services. You are ultimately liable for building up and maintaining internal controls, including checking ongoing activities.
If we, in our sole discretion, suppose a conflict has emerged influencing our capacity to deliver services to you in conformity with either the ethical guidelines of our firm or the ethical norms of our profession, we may be needed to suspend or end our services without giving our work product. You concur that we will not be liable for your inability to fulfil governmental and other deadlines, for any penalties or interest that may be evaluated against you because of your inability to fulfil such deadlines, and for any other damages (including but not restricted to consequential, indirect, lost gains, or punitive damages) incurred because of the suspension or termination of our services.
If a dispute emerges out of or identifies with the Agreement including the extent of services contained herein, or the breach thereof, and if the conflict cannot be settled via negotiation, the parties concur first to attempt to settle the conflict by intervention administered by the Canadian Arbitration Association (“AAA”) under the CAA Professional Accounting and Related Services Dispute Resolution Rules before addressing to settlement, litigation, or some other dispute resolution procedure. Based on the mutual agreement of the parties, the mediator will be chosen. If both the parties cannot agree on a single mediator, then the CAA shall assign a mediator. The mediation will be conducted in the province of Ontario.
The mediation will be considered as a settlement conversation and, that is why, all discussions during the mediation will be private. The mediator may not affirm for either party in any later proceeding associated to the dispute. No recording or transcript shall be made or allowed of the mediation proceedings. All parties shall equally share the costs of any mediation proceedings. Any expenses for legal representation shall be carried out by the hiring party.
In the event of a conflict, you and we concur that the courts of province of Ontario shall have jurisdiction, and we concur to present all disputes to the Court of Brampton, which is the best possible and most convenient place for resolution. We likewise concur that the law of the Province of Ontario shall administer all such disputes.
I&P Bindra shall, during the course of the engagement and for one year after the termination of the same by either you or us, maintain in full power and effect, bookkeeper’s professional liability insurance coverage from an insurance carrier(s) authorized to conduct business in the province of Ontario. As per the policy effective date, such insurance carrier(s) shall be evaluated A- (Excellent), by A.M. Best with a Financial Size Category of Class VII or more. Premiums for that insurance policy will be paid by I&P Bindra.
As per your written request, I&P Bindra shall provide certificates of insurance for the necessary professional liability insurance coverage. Such testament of insurance shall demonstrate the minimum restrictions of liability per claim and in the aggregate as needed by you.
You agree that proprietary data, archives, materials, management procedures and other intellectual property are a material source of the services we do and were created preceding our relationship with you. Any new forms, software, archives or intellectual property we create during this engagement for your utilization shall reside with us, and you will have the restricted authority to utilize them exclusively within your business. All reports, questionnaires, templates, forms, checklists, letters, manuals, agreements and other documents which we make accessible to you are private and proprietary to us. Neither you, nor any of your agents, will duplicate, electronically save, recreate or make accessible to anybody other than your workforce, any such documents. This provision will apply to all materials whether in electronic form, “hard copy/printed version” format or other medium.
You concur that any claim emerging out of this Agreement shall be initiated within one year of the delivery of the work product to you, regardless of any longer frame of time for initiating such claim as may be set by law. A claim is comprehended to be a demand for money or services, the institution of arbitration procedures or the service of a suit against I&P Bindra.
We claim the authority to pull back from the engagement without finishing services for any reason, including, but not restricted to, your inability to conform with the details and terms of this Agreement or as we decide professional standards require.
If this Agreement is terminated prior to services are completed, you concur to remunerate us for the services done and costs incurred through the effective date of termination.
All parties accept and concur that the terms and conditions of this Agreement shall be binding upon and inure to the parties’ heirs and assigns, subject to pertinent laws and guidelines.
If any segment of this Agreement is considered invalid or null, said finding shall not work to discredit the rest of the terms set forth in this Agreement.
The engagement letter, including this Terms and Conditions and some other attachments, incorporates the entire agreement of the parties and overrides all past understandings and agreements between the parties, regardless of whether verbal or written. Any alteration to the terms of this Agreement must be made in written form and duly signed by both the parties.