New Jersey accounting independent contractor agreement template

New Jersey Accounting Independent Contractor Agreement

This New Jersey Accounting Independent Contractor Agreement (the “Agreement”) is made and entered into as of this [Date], by and between [Client Name], with a business address at [Client Address], phone number [Client Phone Number], and email address [Client Email] (“Client”), and [Contractor Name], with a business address at [Contractor Address], phone number [Contractor Phone Number], and email address [Contractor Email] (“Contractor”).

Scope of Services

• Option A: The Contractor shall provide the following accounting services to the Client: [Detailed Description of Accounting Services, e.g., Bookkeeping, Financial Statement Preparation, Tax Preparation, Payroll Processing].
• Option B: The Contractor shall provide accounting services as described in Exhibit A, attached hereto and incorporated herein by reference.
• Deliverables: [List of Deliverables, e.g., Monthly Financial Statements, Tax Returns, Audit Support Documentation].
• Service Standards: [Measurable Service Standards, e.g., Accuracy Rate, Turnaround Time].
• Deadlines/Timelines: [Specify Deadlines or Timelines for Deliverables and Milestones].
• Progress Reports: [Frequency and Format of Progress Reports].

Place of Service and Access Requirements

• Option A: The principal place of service shall be at the Client's New Jersey location at [Client Address].
• Option B: The services will be performed remotely.
• Option C: The services will be performed in a hybrid manner, with [Number] days per week at the Client’s location and the remaining days performed remotely.
• Access Requirements: The Contractor shall have access to the following Client documents and systems: [List of Documents and Systems]. The Contractor shall comply with all Client security policies. Data protection will follow the New Jersey Identity Theft Prevention Act.

Compensation and Payment

• Option A: The Client shall pay the Contractor an hourly rate of [Hourly Rate] per hour for services rendered.
• Option B: The Client shall pay the Contractor a fixed fee of [Fixed Fee] per project, as defined in the Scope of Services.
• Option C: The Client shall pay the Contractor a recurring retainer fee of [Retainer Fee] per [Frequency, e.g., month].
• Payment Schedule: [Specify Payment Schedule, e.g., Bi-weekly, Monthly, Upon Completion of Project].
• Invoice Submission: The Contractor shall submit invoices to [Invoice Submission Contact/Department] at [Invoice Submission Email].
• Payment Method: Payments will be made via [Payment Method, e.g., Check, ACH Transfer].
• Expense Reimbursement: The Client will reimburse the Contractor for pre-approved out-of-pocket expenses, as documented by receipts.
• New Jersey Sales Tax: The Contractor is responsible for the collection and remittance of all applicable New Jersey sales and use taxes.
• Late Payment: Late payments shall accrue interest at a rate of [Interest Rate]% per month, or the maximum rate permitted by New Jersey law.

Independent Contractor Status

• The Contractor is an independent contractor and not an employee, partner, or agent of the Client.
• The Contractor is solely responsible for paying all applicable federal and New Jersey income taxes, self-employment taxes, and unemployment contributions.
• The Contractor is responsible for obtaining a New Jersey Business Registration Certificate if required.
• The Contractor is not entitled to any employee benefits from the Client.

Insurance

• The Contractor shall maintain professional liability/errors and omissions insurance in the amount of [Insurance Amount].
• Option A: The Contractor shall maintain worker’s compensation coverage for its employees.
• Option B: The Contractor represents that it has no employees and therefore is not required to have worker’s compensation insurance.
• The Contractor shall provide proof of insurance upon request.

Ownership of Work Product

• All work product, including financial analyses, documents, filings, and reports, shall be the sole and exclusive property of the Client.
• The Contractor retains ownership of any pre-existing intellectual property used in the performance of the services.
• Upon termination of this Agreement, the Contractor shall return, destroy, or securely transfer all Client information to the Client.

Confidentiality

• The Contractor shall maintain the confidentiality of all Client information in accordance with the New Jersey Identity Theft Prevention Act and applicable IRS regulations.
• This confidentiality obligation shall survive the termination of this Agreement.

Subcontracting

• Option A: The Contractor shall not subcontract any of the services without the prior written consent of the Client.
• Option B: The Contractor may subcontract the following services with the Client's prior written consent: [List of Services]. Any subcontractor must comply with the terms of this Agreement.

Non-Solicitation

During the term of this Agreement and for a period of [Number] months following termination, the Contractor shall not solicit the Client's employees or clients.

Default and Breach

• The following shall constitute a default or breach of this Agreement:
  • Failure to deliver services on time.
  • Providing materially inaccurate work.
  • Unauthorized disclosure of confidential information.
  • Violation of New Jersey CPA Board regulations (if applicable).
• Remedies for breach may include right to cure, indemnification, and liquidated damages as permitted by New Jersey law.

Termination

• Either party may terminate this Agreement upon [Number] days written notice to the other party.
• Upon termination, the Client shall pay the Contractor for all services rendered up to the date of termination.
• The Contractor shall cooperate with the Client in transferring all Client records.

Audit Rights

• The Client shall have the right to audit the Contractor's work product and compliance with this Agreement.
• The Contractor shall reasonably cooperate with any such audit.

Governing Law and Dispute Resolution

• This Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey.
• Any disputes arising under this Agreement shall be resolved in the courts of [County Name] County, New Jersey.
• Option A: Any disputes arising under this Agreement shall be submitted to mediation in New Jersey prior to litigation.
• Option B: Any disputes arising under this Agreement shall be submitted to binding arbitration in New Jersey.

Compliance with Laws

• The Contractor shall comply with all applicable federal and New Jersey laws and regulations governing accounting practice, including licensing, tax registration, anti-money laundering, and anti-fraud laws.
• The Contractor shall provide proof of compliance upon request.

Record Retention

The Contractor shall store, retain, transfer, and destroy Client records in accordance with New Jersey law and relevant accounting industry guidelines.

Amendments and Waivers

All amendments, waivers, and notices must be in writing and signed by authorized representatives of both parties.

Severability

If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

Assignment

This Agreement may not be assigned by either party without the prior written consent of the other party.

Force Majeure

Neither party shall be liable for any delay or failure to perform its obligations under this Agreement due to causes beyond its reasonable control, including but not limited to acts of God, war, terrorism, and natural disasters, within New Jersey.

Exhibits and Schedules

All exhibits and schedules referenced in this Agreement are incorporated herein by reference.

Representations and Warranties

• Both parties represent and warrant that they have the legal authority and capacity to enter into this Agreement.
• The Contractor warrants that it maintains all required certifications and licenses and that the services will be performed in compliance with generally accepted accounting principles (GAAP) and any applicable standards promulgated by the New Jersey State Board of Accountancy.

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

[Client Name]

By: [Client Signature]

Name: [Client Printed Name]

Title: [Client Title]

[Contractor Name]

By: [Contractor Signature]

Name: [Contractor Printed Name]

Title: [Contractor Title]