BY CLICKING ‘I agree to the Terms of Subscription’ CUSTOMER AGREES TO ENTER INTO THIS AGREEMENT.
IF CUSTOMER DOES NOT AGREE TO THESE TERMS, DO NOT CLICK ‘I agree to the Terms & Conditions’AND CUSTOMER MAY NOT ACCESS OR USE THE SERVICE.
This contract is between Denis Boilard, m.b.a., representing the company Comptabilite Condo inc. (COMPANY), 79 Cormier, Suite 201, Drummondville QC J2C 8M5, duly authorized as he declares, hereafter called the "COMPANY".
AND the ‘’CUSTOMER’’ who clicked
Whose, by the present act agree with the terms and conditions defined in this contract.
The main purpose of the work to be done by the COMPANY for the CUSTOMER is to allow to do the remote bookkeeping without using the original paper pieces, like vouchers, checks, invoices, etc. nor any telephone calls or fax. Everything being done through Internet via PDF files sent periodically and regularly to the COMPANY by the CUSTOMER.
The COMPANY uses its own software (Condo Manager) which is an accounting program specialized for Condominium associations or Home Owners Associations.
Clause 1 - Documents Must Be Exclusively in PDF Format
All documents must be scanned and the PDF files must be sent to the COMPANY by the CUSTOMER.
Clause 2 - Work to be done by the COMPANY
As all documents will be sent to the COMPANY as PDF formatted files:
- Process the common charges in owners’ accounts and credit the revenues accordingly
- Record the supplier/vendor invoices and attach the related PDF files to the transactions involved (allowing the CUSTOMER to see the image of all invoices that were processed within the program)
- Process checks and send a pdf copy of them to the CUSTOMER. The physical checks will be printed by the CUSTOMER whenever he wants using his own printer, paper and ink, using the Condo Manager program (check image will be sent to the CUSTOMER by email as the COMPANY process the checks).
- Calculate and impute interests and/or late fees based on the parameters defined by the CUSTOMER via the only available options in the Condo Manager program
- Generate and send the computerized file to the bank for the Pre-Authorized Payments (direct payments) and or Lockbox if required by the CUSTOMER.
- Record the payments received via the PDF files of the checks received from owners by the CUSTOMER.
- Produce and a PDF copy of a deposit slip at least once a month to the CUSTOMER. CUSTOMER will print the paper deposit slip and will bring to the bank the deposit slips along with the real checks recorded on the deposit slips.
- Send monthly statements to the late debtors based on the instructions received by email from the CUSTOMER. Format and options are limited to those available in Condo Manager.
- Modify or record new data and notes in the owners’, tenants’ or suppliers/vendors’ file, that the CUSTOMER will eventually transmit to the COMPANY via emails or PDF files.
- Record the sales for electronic devices or magnetic cards or parking remote controls or any other products or services rented or sold by the CUSTOMER to owners and tenants (This excludes the physical control of their inventory which must be done by the CUSTOMER or the Association itself).
- Record interests received on investments and bank accounts (This excludes negotiating terms and conditions with the financial institutions).
- Send employee payroll information to specialized payroll providers.
- Do the monthly bank reconciliation for all bank accounts with the PDF file received generated by the CUSTOMER using the bank’s statement received from the bank.
- Do the payable account reconciliation if suppliers/vendors statements of accounts are available.
- Do the calculations (if they are based on the shares of each owner) or use the numbers provided by the CUSTOMER for all special assessments to be done, as well as advising owners for their respective part of the special assessment. The text must be provided by the CUSTOMER to the COMPANY before the sending of these advices.
- Process all needed transactions related to the PDF files received and make sure everything balances and respects general accounting rules.
- Produce monthly Balance Sheet, Net Income Statements, and the Comparative to the Budgets Revenues and Expenses one, the list of all receivables and payables. These files will be sent to the CUSTOMER as PDF files.
- Produce different lists in PDF files from the ones available in Condo Manager when specific needs are requested. These files will be sent to the CUSTOMER by emails.
- Produce letters to convoke the general annual meeting (the text being provided by the CUSTOMER) (letters sent in pdf copy to the CUSTOMER).
- Do the end of the year accounting procedure and reduce to zero all Revenue and Expense accounts, including creating a previous year database and the re-opening of the new current year.
- Make daily security backups of all data.
Closing of the Financial Year
All documents produced during the year end procedure will be as PDF files and sent by emails to the CUSTOMER.
- Financial Statements including a comparative to the budgets with the previous year.
- Vote ballot papers if require for the general annual meeting.
- Budgeted financial statements for the next year (budget amounts must be provided to the COMPANY by the CUSTOMER before being recorded in the program).
Assist when possible, the auditors designated by the CUSTOMER for the book and register annual auditing if required.
Clause 3 - Equipments
The CUSTOMER must use his own equipments for scanning, printing or other needs. The COMPANY will provide a specific email address to send documents.
Clause 4 - Remuneration Payable to the COMPANY
The CUSTOMER accepts to pay 5 dollars by unit by month as regular remote accounting monthly fees. To minimize the administrative tasks for both parties, the payments will be done by monthly direct payment (DPA). There will be no monthly invoice except for special charges as described above.
The COMPANY may increase the fees by 1.5% each year after the first year.
The COMPANY will charge the following fees for other services complementary to the contract:
- Annual tax return: $ 275 each
- MD-5 forms: $ 40 each
- Fees for the production of the necessary documents for a change of ownership: $ 195. These costs will be charged to the co-owner-seller.
Clause 5 - Contract Period
This contract will take effect as of the signature of this contract for a period of 1 year and will be renewed for a year after. Without negotiated changes between parties, the contract will be renewed automatically for the same period at the same price unless an advice from the CUSTOMER is received at least sixty (60) days before the end of the period.
Clause 6 - End of Contract
After the first year following the contract’s signature and in order to preserve the autonomy of both parties, the CUSTOMER and the COMPANY has the right to terminate the present contract for any reason as far as a ninety (90) days advice is given and addressed to the other part to its last known address (if different form the one indicated in the present document). Nevertheless, this right to terminate the present contract must follow the rules stated below:
a) The termination of the present contract won't produce any penalty for any of the two parts, except the right to have the termination rules respected and enforced.
b) All remuneration according to this contract and still payable to the COMPANY must be paid immediately by the CUSTOMER.
c) The COMPANY must send to the CUSTOMER the database of the managed Association.
d) As all documents received by the COMPANY are PDF files or emails, there will be nothing to be sent to the CUSTOMER.
Clause 7 - Specific Exclusions
The contract covers only the bookkeeping. It excludes the presence for meetings of the board, annual meetings and all kinds of meetings or reunions. It excludes the minutes of such meetings and everything related for preparing or holding such meetings. It excludes also any other tasks not described in the present contract or any task not related to the accounting. It excludes all managing tasks or building problems etc.
The COMPANY will not have any direct contact with owners, tenants or suppliers/vendors except via correspondence as account statements, letters for the annual meeting, late payment notices or other emails or letters related to accounting matters.
For the owners’ late payments, the COMPANY will do the two first written or email advices for late payments or direct payments refused by the bank. It specifically excludes telephone calls or fax and any other collection procedure for late payments.
All legal or judicial proceedings or documents related to sales by order of the Court and all tasks or documents required by legal procedure of any kind are excluded, no matter if they concern board members, the Association itself, owners, tenants, suppliers/vendors or anybody involved in the legal procedure.
Updating, repairing previous accounting errors is excluded. If such work is required, it must negotiate separately. The present contract concerns only the ongoing bookkeeping with something that is already balancing and respecting the general accounting rules.
Clause 8 - Work or Tasks Not Defined In This Contract
As the COMPANY has a vast experience in Association accounting, bookkeeping and managing, the COMPANY could provide services not included in this contract, as far as a specific price is negotiated for a specific task before the work is going to be done. The COMPANY could do special works to help the CUSTOMER as much as possible, limited however by the fact that everything is done remotely without direct contacts with any of the interlocutors of the CUSTOMER.
Clause 9 - GOVERNING LAW
In the event that either party brings any formal action or suit against the other party. Both parties agree to submit to mediation under the laws of and the provisions of the Code of Civil Procedure of Quebec and shall be exclusively settled by a competent court of the judiciary district of Drummondville, province of Québec, Canada, to which the parties hereto acknowledge jurisdiction.
In the event agreement cannot be agreed to by mediation both parties agree that this agreement will be interpreted under the laws of Quebec (Canada) and shall be exclusively settled by a competent court of the judiciary district of Drummondville, province of Québec, Canada, to which the parties hereto acknowledge jurisdiction.