Subject to the conditions set forth in this Agreement, BusinessLT, hereinafter referred to as the Company, shall provide to the Client the following services:
1. OBJECT OF THE AGREEMENT
1.1. Client orders and the Company undertakes to fill in the accounting records of original documents and perform bookkeeping of the Client in pursuance with the acts of the Republic of Lithuania.
2. RIGHTS AND OBLIGATIONS OF THE PARTIES
2.1. The Company shall perform the following tasks:
2.1.1. manage the financial accounting of the sale and purchase and fill in the financial accounting registers;
2.1.2. manage the financial settlement accounting and fill in the corresponding accounting records;
2.1.3. lead the fixed asset accounting;
2.1.4. lead the payroll accounting;
2.1.5. perform the tax calculation;
2.1.6. fill in and present to the Client social security forms, reports for the tax inspection, statistical reports under the terms stated by correspondent institutions and represent Client in these institutions if it is necessary when performing tasks under this agreement;
2.1.7. represent the Company in governmental institutions, banks and other credit institutions of Lithuania if it is necessary for performing duties under this Agreement;
2.1.8. prepare and present annual financial statements to the Client, the Centre of Registers and the Tax inspection;
2.1.9. In case a Client is a VAT payer, lead the VAT invoice register of the sale and purchase in accordance with applicable law and tax inspection provisions.
2.2. The Company shall be entitled:
2.2.1. to obtain all the documentation that is necessary to perform duties under this Agreement from the Client;
2.2.2. to require the Client to perform the actions that are necessary to fulfill the duties under this Agreement.
2.3. The Client obliges:
2.3.1. to provide the Company with all the POAs required to perform the duties of this Agreement;
2.3.2. to provide the Company by email by the 5th day of every month: all bank statements, documentation and information on Client's activity necessary to perform the obligations as described in this Agreement of the previous month;
2.3.3. to provide the original documents upon Company’s request;
2.3.4. if required so by the Company, to perform all the actions necessary to fulfill the duties under this Agreement.
3. PAYMENT TERMS
3.1. The Client undertakes to pay for the services performed by the Company monthly according to this pricelist:
- up to 10 records/month € 110,00 + VAT per month
- more than 10 records/month under separate agreement, depending on company’s activity
- additional employee (except director) – € 30,00 + VAT per month;
- additional document/operation – € 5,00 + VAT.
- closing at the end of financial year (annual financial statements) one average monthly payment
3.2. The payments shall be made every month in advance (until 10th calendar day of month).
3.3. Within 10 calendar days after signing this Agreement the Client shall pay for the first month and the deposit of € 300,00. The deposit will be returned to the client after termination of this Agreement in case a Client has not infringed the payment terms or any other obligations as per this Agreement. The deposit will not be returned to the client after termination of this Agreement in case the Agreement is terminated due to the infringement of Client's obligations as stipulated in this Agreement.
4. LIABILITY OF THE PARTIES
4.1. The Client takes full responsibility for the lawfulness of its activity.
4.2. The Client is responsible for the completeness, accuracy and timely submission of the original records and the information to the Company.
4.3. The Company is responsible for performing the bookkeeping of the Client in accordance with the general accounting principles and applicable acts of law.
5. VALIDITY, TERMINATION AND AMENDMENT OF THE AGREEMENT
5.1. This Agreement enters into force after signing and is valid for 12 (twelve) calendar months. In case parties continue to perform their duties under the Agreement after the expiration of the validity period, the Agreement is considered to be extended for the next period of 12 months under the same terms.
5.2. The Agreement may be terminated prior to the expiration of the validity period by giving a written notice to the other party 30 calendar days in advance. In case a Client in late with its payment and/or infringes its other obligations as stipulated in this Agreement for more than 14 (fourteen) days, the Company shall have a right to terminate the Agreement by written notice 3 days in advance and keep the deposit.
5.3. Any addition or modification to this Agreement must be made in writing and duly signed.
5.4. This Agreement is made under and shall be construed according to the law of the Republic of Lithuania.
5.5. All disputes arising from this Agreement or in connection with it shall be dealt with by negotiation of the parties.
5.6. Failure to resolve the dispute by negotiation shall result in settling the dispute according to the procedures stated by the law of the Republic of Lithuania in a court of competent jurisdiction in the Republic of Lithuania.