Fredrick James, LLC Service Agreement (Exhibit A )
Estimates and Quotes: Client understands that estimated fees provided by Fredrick James, LLC were calculated prior to commencing work on services. Actual service fees may be greater or less than estimate. In the event that actual service fees are greater than estimate, Fredrick James, LLC will notify client. The client agrees to assume and pay for all out-of-pocket costs incurred in connection with these matters (e.g. filing fees, notary service, travel, postage, copying and other necessary expenses ) in addition to quoted fees. The client also agrees to assume and pay for any professional fees as needed (e.g. attorney or other ) . Billable quotes for service apply to the level of service that is needed by the client. Since different personnel within Fredrick James LLC have different functions and billable rates, the client may be charged a different billable rate if the work done has to be moved to a higher level of accounting professional to complete the client’s project. For all projects where the total service provided will exceed 30 days, the client will be billed on a progress billing basis as of the last day of each month. Client must authorize the estimate or quote prior to commencement of work. Client authorizes acceptance of an estimate or quote to be legally valid by all verifiable means whether electronic (e.g. email, text, client porthole, fax or other ) , verbal or written.
Fees: An expediting fee will be assessed to accounts where work is performed on an immediate need basis by the client. Fees depend on the time of year, overtime work hours required, weekend work hours required, holiday hours required, after-business hours worked and other temporary staff that may be needed to accommodate the expediting of the client’s project. Fees shall be increased annually according to industry standards for all services. Notices will be posted on our website or sent to the last known e-mail, fax or address. At that time, client‘s payment rate will automatically be updated to a new fee schedule for all services rendered. The client agrees to pay a reasonable accounting fee based upon: a ) the time and labor required, b ) the responsibility assumed and the circumstances under which the services are performed, c ) the novelty and degree of difficulty of the issues and the skill requisite to perform the accounting services properly, d ) the issues and the amount involved, and e ) the result obtained. The total fee shall be no less than the number of hours for services performed at the normal hourly rates in effect for firm employees who perform the work.
Payments: Payments are credited to the oldest invoice’s due first and then credited to the newer invoices. All monies paid to Fredrick James, LLC is considered earned as paid. Once work has begun Fredrick James, LLC has a no refund policy.
Late Payments: If a payment is late, clients account will be charged interest at the rate of 1.5% monthly (18% annually ) on any amounts due from the date of service plus late fees of $50 per 30 days late from the date of service or due date. Interest and late charges are non-reversible or refundable.
NSF Payments or Cancelled Credit Cards: There will be a $49.00 service charge in addition to the bank’s insufficient funds fee added to the client account for non sufficient fund payment or cancelled credit cards. It is the client’s responsibility to notify Fredrick James, LLC of any changes in account on file prior to their billing date. Client approves and authorizes the use of all other accounts on file with Fredrick James, LLC for payment of invoices including all bank accounts, VISA, Master Card, American Express, Discover or any other payment method information possessed to Fredrick James, LLC by Client for services in the event of any declined payment per the Clients Services and Payment Agreement with their bank accounts, VISA, Master Card, American Express, Discover or any other means of payment method. Client approves and authorizes the use of these payment methods and approve these payments.
Communication: The client authorizes us to take payment and to perform all tasks submitted to us verbally, by email, text, Social Media Message, fax in writing or any other form of verifiable communication.
Scheduled Office Visits: Appointments are in high demand. In the event that a scheduled appointment must be cancelled, client agrees to contact us at least 24 business hours prior to the appointment so that we may fill that time slot. Failure to do so will result in an office visit charge to client equal to the amount of time schedule for the appointment for each staff member schedule to attend.
Monitoring: For the protection of all parties we have instituted a monitoring policy, which states: By entering the Fredrick James, LLC premises or communicating by phone or any other electronic form of communication, you consent to interview(s ) , photography, audio recording, video recording and its/their release, publication, exhibition, or reproduction to be used for news, web casts, promotional purposes, telecasts, advertising, inclusion on websites, or any other purpose by Fredrick James, LLC and its affiliates and representatives. You release Fredrick James, LLC, its officers and employees, and each and all persons involved from any liability connected with the taking, recording, digitizing, or publication of interviews, photographs, computer images, video and/or or sound recordings. By entering the Fredrick James, LLC premises, you waive all rights you may have to any claims for payment or royalties in connection with any exhibition, streaming, web casting, televising, or other publication of these materials, regardless of the purpose or sponsoring of such exhibiting, broadcasting, web casting, or other publication irrespective of whether a fee for admission or sponsorship is charged. You also waive any right to inspect or approve any photo, video, or audio recording taken by Fredrick James, LLC or the person or entity designated to do so by Fredrick James, LLC.
Documentation: The client authorizes Fredrick James, LLC to document all communications and meetings with or on behalf of client via writing, audio/visual recording, email, fax, phone and other communication methods.
Deposits/Retainer: The amount of the deposit/retainer will be kept on account and subtracted from the clients final invoice. Any balance on deposits/retainers will be refunded less actual billable costs at the client’s request.
Account-Holders: Client accounts are set up as Visa, MasterCard, American Express or Discover or ACH (Auto Check ) . Work is invoiced monthly. A 50% deposit for services will be due upon client approval/project start date. Invoices are due when received and will be billed to your account 7 calendar days after receipt. No services will be performed on a past due account. An account is considered past due if payment is not received timely. The final invoice balance is due and will be billed to the account upon presentation of the Draft Work Completed. To qualify as an Account-Holder, the client must have an authorized Credit Card or Bank Account (ACH ) on file authorizing payment for services with Fredrick James, LLC. The above named client authorizes Fredrick James, LLC to charge their account for services as described above.
Non-Account-Holders: Services are provided on a pre-paid basis only. The final invoice balance is due prior to the presentation of the Work Completed.
Deposits/Retainers and Payments: Client agrees to pay Fredrick James, LLC all actual fees in full upon completion of services. In addition, client understands that any tax returns, reports, financial statements and original associated work papers will not be released the client nor will any reports or returns will be released to third-parties until all fees and related expenses are paid in full. Storage fees of $5 per day or $50 per month (the greater of ) will be added for storage of client paperwork should the account be past due. The signature of this engagement letter for services authorizes Fredrick James, LLC to submit auto payment by Visa, MasterCard, American Express, Discover or ACH (Auto Check ) for the amounts stated in this Engagement Letter, an Estimate or other verifiable communications. In the event that a payment is refused the entire amount of the balance will become due and subject to the terms stated in this Engagement Letter. Payments are due upon completion of client projects (Non Recurring Work ) . Invoices will be sent to Account-Holder clients on a monthly basis for recurring monthly charges for services. All invoice charges are due upon receipt and must be paid in full in 7 calendar days. Invoices for work performed for services other than the monthly contracted work will be emailed to the client as needed for approval. Automatic approval of the invoice will occur if no response is made 7 calendar days after the approval request email is sent. Company policy prohibits the extension of company credit to its clients.
Notifications: As items change in this Engagement Letter, Fredrick James LLC will post or send notice stating the changes to the agreement terms. Notices are considered delivered when Fredrick James, LLC posts them to the company website or sends them by email or fax to the last known email or fax number you have provided to us, or 3 days after mailing to the last known billing address we have on file. Automatic acceptance of changes will be final 30 days after the date of notice. If Fredrick James, LLC is not notified in writing via certified return mail receipt, stating the rejection of said changes.
Arbitration or Litigation: In the event of any arbitration or litigation arising out of this contract to collect any outstanding accounting fees or costs, including appeals, is instituted in connections with breach, enforcement, collection of monies or interpretation of this contract or assignment, including, without limitation, any action seeking declaratory relief, equitable relief, injunctive relief, or any action at law for damages, in the event Fredrick James, LLC prevails, Fredrick James, LLC shall be entitled to recover all reasonable attorney’s fees, court costs and Fredrick James, LLC billable hours (billed at Fredrick James, LLC highest billable hourly rate ) incurred in connection therewith from Client as well as interest at the rate of eighteen percent (18% ) annually on any amounts due from the date of service plus late fees of $50 per 30 days late from the date of service and all reasonable collection and storage fees.
Lien: I agree that Fredrick James, LLC shall have a lien on all the clients documents, property (both real and personal, regardless of homestead ) , or money in its’ possession or another’s, for its benefit for the payment of all costs due under this agreement, and upon property or funds received by the client by settlement, judgment, or otherwise, or which was an issue in litigation between the parties. I agree to the entry and recording of an accountant’s lien for fees and costs which are owed to Fredrick James, LLC. This shall be secured by any of my real property, regardless of homestead, and the lien shall be in favor of Fredrick James, LLC. Also, I agree to sign any documents necessary to implement this paragraph.
Jurisdictional Venue: This document constitutes the entire agreement between the parties and supersedes any and all prior agreements and understandings. This agreement may not be altered or amended except in writing signed by all parties. This agreement shall be interpreted in accordance with the laws of the State of Florida in the United States of America. Venue for all purposes shall lie solely in the state courts situated in Pinellas County, Florida. Client shall be responsible for all legal fees and costs incurred by Fredrick James, LLC as a result of any litigation, including appeals, arising under this agreement.
Personal Guarantor :The person signing this Agreement personally guarantees, and fully assumes all liability for, payment(s ) for services provided and compliance for all conditions as set forth in this Agreement. This shall apply whether the person signing this Agreement signs in his/her personal capacity or in their capacity as an owner, partner, officer, member or agent of/for a business entity (including, but not limited, to a sole proprietorship, partnership, corporation, limited liability company, limited liability partnership, or non-stock/non-profit organization ) or any other capacity that legally binds the entity.
Hold Harmless: Client agrees to hold Fredrick James, LLC harmless such that Fredrick James, LLC will not be liable or responsible for any claims for damages from whomsoever arising out of or attributable to the operations or performance of services for or in behalf of the client by Fredrick James, LLC. In any event, any liability of Fredrick James, LLC for any matters shall be limited to the amount of its Monthly Fee or Fees Collected for the service to Client.
Acceptance: This Engagement Letter may be withdrawn if not accepted by a signature along with the stated retainer/deposit or payment information and returned by mail, fax, e-mail or by person within 10 days.
Fredrick James Work Papers: Client agrees that all work papers produced by Fredrick James, LLC including program generated files, written work papers, internal notes, copies of client original documents, computer files and client notes are the property of Fredrick James, LLC.
Client Documents: Client documents are original documents, original computer files and original notes received by Fredrick James, LLC from the client.
Final Product: Upon full payment, client is entitled to the final result of work performed and agreed upon in writing not including Fredrick James, LLC work papers as state above.
Client Services: Projects may have delays due to unforeseen circumstances that may be out of the control of Fredrick James, LLC. Any time spent relative to the clients matter, including conferences, telephone meetings, drafting documents, research, IRS meeting time, necessary travel time, etc., will be billed on an hourly basis unless it is specifically stated otherwise in writing.
Renewal: This Engagement Letter and other services provided by Fredrick James, LLC shall automatically renew annually or at its renewal date, as well as said annual deposits.
Retained Monthly Services: Retained monthly services will be billed to the account on file on a monthly basis. Client agrees to send in monthly work in the pre-determined structure prescribed by Fredrick James, LLC. Should the monthly work not be received as prescribed and agreed upon by the client and Fredrick James, LLC within 90 days of due date, the retained services will be considered completed regardless of whether the services have been performed. Monthly fees for services above are on a subscription basis and are not refundable.
Cancelation of Retained Monthly Services: Cancellation of the terms of the Engagement letter must be sent to Fredrick James, LLC in writing with certified returned receipt. Once the client cancellation letter is received, the account will be reviewed and set up for closure. If the account is in the first year or within 12 months of the start of the original Engagement Letter, a two month recurring cancellation fee will be charged and processed.
Termination: Upon cancellation of the services the client will receive their original client documents as defined above. Fredrick James, LLC retains its work papers as defined above and is under no obligation to remit copies of its work papers to the client.
Agent: Client authorizes Fredrick James, LLC to act as payroll agent for their company as needed. As payroll agent, we can submit any or all forms needed to report payroll accurately. Client gives Fredrick James, LLC permission for all payroll forms and to submit necessary payments for taxes due to government authorities. Client authorizes Fredrick James, LLC to act as agent for client as needed. Client agrees to hold Fredrick James, LLC not liable for electronic malfunctions, not liable for client NSF (Non Sufficient Funds ) and not liable if client does not remit payroll information in a timely manner. Client authorizes Fredrick James, LLC to register client/company for the Electronic Federal Tax Payment System, Federal and State Tax, Unemployment Tax, Sales Tax, Local Business Tax, Federal, State and Local Licensing and EIN (Entity Identification Number ) as needed.
Severability: In the event that any provision of this Engagement Letter shall for any reason be held to be illegal, void, or unenforceable, or shall become illegal, void, or unenforceable, then, in such event, the validity, legality, and/or enforceability of the remaining provisions of this Engagement Letter shall remain unaffected.
Client Web Portal: Client agrees to set-up access to Client Portal on www.FredrickJames.com//members/. Once notice has been sent by Fredrick James, LLC, client agrees it is then the sole and exclusive responsibility of the client to view their client portal for news, updates and changes (including changes to material terms and conditions ) of or relating to this Service Agreement.
Non-Disparagement: For purposes of this Section, “disparage” shall mean any negative statements, reviews, comments, or feedback, whether written or oral, about Fredrick James, LLC products and services provided by its associates such as owners, officers, employees, contractors and stakeholders herein “Fredrick James and Associates”. Client agrees that they will not disparage Fredrick James and Associates, or post any negative statements, reviews, comments, or feedback about Fredrick James and Associates products and services provided to any third party whether orally, via electronic visual means or in any written publication or online forum, chat room, or message board, including but not limited to Facebook, Twitter, YouTube and Yelp or any like social outlet. Parties, herein “Fredrick James, LLC and Client” agree that it would be impracticable and extremely difficult to ascertain the amount of actual damages caused by a failure to comply with this provision. Parties agree that in the event it is established that Client has failed to comply with this provision, liquidated damages of $500,000 shall be payable to Fredrick James, LLC.
2024 Billable Hourly Rates:
Administrative: $198
Personal Financial Counseling: $298
QuickBooks/Point of Sale Pro Advising: $328
Accounting/Bookkeeping/Payroll Processing: $328
Taxes/Tax Planning/Tax Forecasting/Business Taxation: $358
Tax Resolution/Prior Year Tax: $378
Consulting/Loan Packaging/Licensing/Valuation/Forecast: $378
Business/S-Copr/LLC/Partnership Setup or Update: $358
Accounting System/POS Design/IT/Software Integration: $378
Out of pocket expenses reimbursable by client (Copies, Mileage, Postage, Outside Consultants, Ect )
Meetings/Correspondence/Travel: Same Hourly Rate as Service Provided.
Updated 1/1/2024
