Terms & Conditions
Documents and Information Required
- It is client’s responsibility to provide all the documents and information required for the preparation of your financial reports. Client agrees that effective communication can only occur if you give J Michael financial group efficient and unrestricted access to your financial documents, records, and information and if you are responsive to questions, we ask about the information you provide.
- To complete the services described herein, J Michael financial group must obtain the following documents. If these documents are not provided in a timely manner, delays can occur in the delivery of services. The required documents include:
- Bank and credit card statements for the period. We require read-only online access to all accounts.
- Verification documents for all bank deposits, i.e., deposit slips, invoices, cash register receipts, or summaries of sales and deposits.
- Online access to the payroll processing service account.
- Receipts for business-related purchases paid with cash register funds and/or petty cash funds.
- Receipts for business-related purchases paid with personal funds.
- A listing of accounts receivable and accounts payable.
- Copies of purchase and lease agreements for the acquisition and sale of major assets.
- Copies of loan, mortgage, line of credit, and other finance documents for reporting of liabilities.
Please note that other documents may be required during this engagement.
You should retain all documents and all other material data that form the basis of your financial information. You also represent and agree that you are sole custodian of the original documents and data. Your original documents and data comprise the backup and support for your financial reports and tax filings. Our records and files are our property and not a substitute for your own records. Our firm destroys client files after a retention period of seven (7) years, after which time these items will no longer be available. Also, catastrophic events or physical deterioration may result in our records being unavailable.
In connection with this engagement, we may communicate with you or others via email transmission. As emails can be intercepted and read, disclosed, or otherwise used or communicated by an unintended third party, or may not be delivered to each of the parties to whom they are directed and only to such parties, we cannot guarantee or warrant those emails from us will be properly delivered and read only by the addressee. Therefore, we specifically disclaim and waive any liability or responsibility whatsoever for interception or unintentional disclosure of emails transmitted by us in connection with the performance of this engagement. In that regard, you agree that we shall have no liability for any loss or damage to any person or entity resulting from the use of email transmissions, including any consequential, incidental, direct, indirect, or special damages, such as loss of revenues or anticipated profits, or disclosure or communication of confidential or proprietary information.
Fees
- Client acknowledges and agrees that we are not required to continue work in the event of failure to pay on a timely basis for services rendered as required by this Agreement. The client further acknowledges and agrees that in the event we stop work or withdraw from this engagement because of the client’s failure to pay on a timely basis, J Michael financial group shall not be liable for any damages that occur because of ceasing to render services.
Scope and Limitations
- We may provide reports which contain portions of financial information. These reports are limited to information that are the representations of management. We will make no attempt to adjust the records to reflect generally accepted accounting principles (GAAP). We will not provide any financial statements other than those reports which are used for internal management purposes and tax purposes. These reports are not intended for third-party use.
- We will not perform any compilation, review, or audit of any of the financial information. We have not been requested to discover errors, misrepresentations, fraud, illegal acts, or theft, and therefore, have not included any procedures designed or intended to discover such acts. You agree we have no responsibility to do so.
- We do not at any time provide legal services of any type.
Termination of Engagement
- Either party may terminate this relationship with thirty (30) days written notice to the other, including email notification, provided that such notice has been received.
- During the 30-day termination period, projects in process shall be completed if possible, and no other work shall be undertaken unless the parties agree in writing to specific terms for the additional work.
Limit of Liability
- Client hereby agrees that J Michael financial group’s total liability for any breach of this Agreement, for any failure to perform any term of this Agreement, for any claims relating to or arising out of its performance of this Agreement, and for its own ordinary negligence in any aspect of its relationship with Client, regardless of form of action, shall be limited to the most recent monthly amount billed for services agreed to hereunder as its exclusive remedy. Client agrees that it shall not make any claim against J Michael financial group and Nilesh Patel beyond such amount of monthly account, and J Michael financial group and Nilesh Patel may rely on this paragraph as a complete bar to any such claim.
- More specifically, Client agrees that J Michael financial group and Nilesh Patel are not, and shall not be deemed to be, liable for any losses resulting from advice provided by them or either of them, or from work done by them, or for loss of profits of Client or of any other party which may flow therefrom, whether it be direct or incidental, whether or not they have been advised of the possibility of such damages, and Client acknowledges and agrees to the same hereto.
- Neither party may bring any action arising out of the services described in this Agreement, regardless of form, more than one year after the date of the last services provided.
Indemnification
- As an additional consideration for J Michael financial group to provide Client these services, Client agrees to release, indemnify, defend, and hold harmless J Michael financial group, its partners, officers, directors, members, employees, and agents from and against any and all claims, demands, suits, liabilities, losses, costs, and expenses (including attorneys’ fees) arising out of or in connection with any known misrepresentations or fraud participated in by management or any employees of Client, or such errors resulting from incomplete or inaccurate information provided by management or any employees of Client, and such indemnity shall not be limited to the term of this Agreement but shall be ongoing even after its termination.
Governing Law
- J Michael financial group and Client both agree that regardless of where the client is domiciled and regardless of where this Agreement is physically signed, this Agreement shall have been deemed to have been entered into at J Michael financial group’s office located in Berlin, CT USA and Berlin, CT USA shall be the exclusive jurisdiction for resolving disputes related to this Agreement. This Agreement shall be interpreted and governed in accordance with the Laws of Connecticut.
