Maine accounting independent contractor agreement template

Maine Accounting Independent Contractor Agreement

This Maine Accounting Independent Contractor Agreement (the “Agreement”) is made and entered into as of this [Date], by and between:

[Client Full Legal Name], with a principal place of business at [Client Business Address], and contact details: Phone: [Client Phone Number], Email: [Client Email Address] (hereinafter referred to as “Client”),

and

[Contractor Full Legal Name or Business Name], with a principal place of business at [Contractor Business Address], and contact details: Phone: [Contractor Phone Number], Email: [Contractor Email Address] (hereinafter referred to as “Contractor”).

Scope of Services

Option A: The Contractor shall provide the following accounting services to the Client:

• Bookkeeping services
• Preparation of federal and Maine state tax returns
• Payroll processing, including Maine state payroll tax compliance
• Financial reporting tailored to the Client’s industry
• Internal auditing services
• Compliance with Maine state financial regulations
• Periodic financial analysis

Option B: The Contractor shall provide the accounting services as specifically detailed in Exhibit A attached hereto.

Deliverables:

• The Contractor shall deliver the following: [List of Deliverables]
• Reports shall be provided in [Format, e.g., PDF, Excel] format.
• Documentation standards shall comply with [Applicable Standards, e.g., GAAP].
• Deadlines are as specified in Exhibit A.

Work Location and Data Security

Option A: The Contractor shall perform services on-site at the Client's Maine-based office.

Option B: The Contractor shall perform services remotely.

Option C: The Contractor shall perform services both on-site and remotely as needed.

Data Security:

• The Contractor shall maintain secure data access protocols complying with Maine data privacy laws.
• All client materials shall be treated confidentially.
• The Contractor shall use [Client or Contractor]'s equipment.
• Data security protocols shall adhere to Maine state requirements.

Compensation and Payment

Option A: Hourly rate of [Dollar Amount] per hour.

Option B: Fixed fee per engagement as detailed in Exhibit B.

Option C: Monthly retainer of [Dollar Amount].

Invoicing: The Contractor shall submit invoices [Frequency, e.g., monthly].

Payment Method: Acceptable payment methods are [List of acceptable methods, e.g., Check, ACH].

Payment Schedule: The Client shall pay invoices within [Number] days of receipt.

Reimbursable Expenses: Reimbursable expenses, pre-approved by the Client, include [List of Expenses].

Late Payment Interest: Late payments shall accrue interest at a rate of [Percentage] per month, or the maximum rate allowed under Maine law, whichever is lower.

Maine Tax Treatment: The Contractor is responsible for all applicable Maine state and local taxes.

Independent Contractor Status

The Contractor is an independent contractor and not an employee of the Client.

The Contractor is responsible for all federal and Maine state income taxes, FICA, unemployment contributions, and workers' compensation (if applicable).

The Contractor shall maintain its own insurance, including Maine business liability or professional liability insurance.

The Contractor is responsible for all regulatory filings as required by Maine law.

Ownership of Work Product

All client records, financial reports, software outputs, and supporting documentation are the property of the Client.

Upon termination, the Contractor shall return or destroy all client data in compliance with Maine privacy statutes.

The Contractor shall comply with Maine State Board of Accountancy recordkeeping rules.

The Contractor shall adhere to applicable professional codes of conduct.

Confidentiality

The Contractor shall protect sensitive financial and tax data.

The Contractor shall not disclose client business or personal information.

The Contractor's obligations follow Maine statutes on professional confidentiality.

Exceptions: Disclosure is permitted only where compelled by law.

Non-Solicitation and Conflict of Interest

The Contractor shall not compete with the Client's business during the term of this Agreement and for [Number] months post-termination.

The Contractor shall not solicit the Client's customers or employees during the term of this Agreement and for [Number] months post-termination.

Enforceability standards are those applicable in Maine.

Subcontracting

Option A: Subcontracting is not permitted.

Option B: Subcontracting is permitted with the Client's prior written approval.

• Subcontractors must be qualified under Maine accounting regulations.
• Subcontractors must be subject to the same confidentiality and professional standards.

Performance and Quality Assurance

Performance benchmarks: [List of Benchmarks]

Quality assurance standards: Adherence to Maine and applicable AICPA standards.

Milestones for project-based work: As specified in Exhibit A.

Periodic review mechanisms: [Description of Review Process].

Indemnification and Limitation of Liability

The Contractor shall indemnify the Client for errors, omissions, late filings, or breaches of Maine law.

Insurance Requirements: The Contractor shall maintain professional liability insurance in the amount of [Dollar Amount].

Liability is limited to [Dollar Amount].

Breach and Default

Notice of Breach: The non-breaching party shall provide written notice of any breach.

Opportunity to Cure: The breaching party shall have [Number] days to cure the breach.

Set Penalty Amounts: [Description of Penalties]

Dispute Escalation: [Description of Dispute Escalation Process]

Term and Termination

Term: This Agreement shall commence on [Start Date] and continue until [End Date], unless terminated earlier.

Renewal: This Agreement may be renewed upon mutual written agreement of the parties.

Termination for Cause: Either party may terminate this Agreement for cause with [Number] days' written notice.

Immediate Termination: The Client may terminate this Agreement immediately for misconduct or legal non-compliance.

Handoff Procedures: Upon termination, the Contractor shall handoff all work and outstanding deliverables.

Dispute Resolution

Negotiation: The parties shall attempt to resolve any disputes through good-faith negotiation.

Mediation/Arbitration: If negotiation fails, the parties shall attempt mediation or arbitration in [City], Maine.

Governing Law/Jurisdiction: Exclusive jurisdiction for any legal action shall be in the courts of Maine.

Maine's statutes on alternate dispute resolution shall apply.

Compliance with Laws

The Contractor shall comply with all Maine and federal laws applicable to accounting.

The Contractor shall comply with licensing and registration standards set by the Maine Board of Accountancy.

The Contractor shall comply with continuing education requirements.

The Contractor shall comply with anti-money-laundering rules.

The Contractor shall comply with Maine's ethical standards for CPA and non-CPA accountants.

Representations and Warranties

Both parties warrant their authority to enter into this Agreement.

The Contractor warrants their current Maine registration or CPA licensure status.

The Contractor warrants they maintain professional liability coverage.

Miscellaneous

Amendment: This Agreement may be amended only in writing signed by both parties.

Assignment: This Agreement may not be assigned without the prior written consent of the other party.

Notice: Notices shall be sent to the addresses listed above via [Method, e.g., mail, email, personal delivery].

Severability: If any provision of this Agreement is held invalid, the remaining provisions shall remain in effect.

Record Retention

The Contractor shall retain workpapers and client files for a minimum period of [Number] years, in accordance with Maine regulations.

Electronic Signatures

Electronic signatures shall be accepted per the Maine Uniform Electronic Transactions Act.

Special Maine Considerations

The Contractor shall handle confidential taxpayer information in accordance with Maine law.

The Contractor shall comply with all applicable municipal taxes or reporting requirements.

The Contractor shall adhere to any additional local ordinances or industry practices.

Client Business Sector Tailoring

This Agreement reflects the Client’s business sector, frequency of Maine tax filings, industry-specific compliance obligations, and unique local business customs.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

[Client Full Legal Name]

By: [Client Signature]

Name: [Client Printed Name]

Title: [Client Title]

[Contractor Full Legal Name or Business Name]

By: [Contractor Signature]

Name: [Contractor Printed Name]

Title: [Contractor Title]