North Carolina accounting independent contractor agreement template

North Carolina Accounting Independent Contractor Agreement

This North Carolina Accounting Independent Contractor Agreement (the "Agreement") is made and entered into as of [Date] by and between:

[Client Legal Name], located at [Client Address], with phone number [Client Phone Number] and email address [Client Email Address] ("Client"),

and

[Contractor Legal Name], located at [Contractor Address], with phone number [Contractor Phone Number] and email address [Contractor Email Address] ("Contractor").

1. Scope of Work

Option A: The Contractor shall provide the following accounting services to the Client: [Detailed description of accounting services, e.g., bookkeeping, financial reporting, tax preparation, payroll processing]. The Contractor will deliver the following: [Specific deliverables, e.g., monthly financial statements, tax returns].

Option B: The Contractor shall provide accounting services as described in Exhibit A, attached hereto and incorporated by reference.

Deliverables Schedule: [Timelines, service periods, key milestones, documentation standards, frequency of progress reports]

2. Service Location and Access

Option A: The Contractor will perform services at the Client's location at [Client Address].

Option B: The Contractor will perform services at the Contractor's location at [Contractor Address].

Option C: The Contractor will perform services remotely.

Data Security: The Contractor shall ensure secure data transmission and storage of client data, including [Specific security measures, e.g., encryption, password protection]. The Contractor shall comply with all applicable data privacy laws.

Client Records: [Specify requirements for accessing and handling client records, including original documents and data backup procedures.]

3. Service Fees and Payment

Option A: Hourly Rate: The Client shall pay the Contractor an hourly rate of [Dollar Amount] per hour.

Option B: Flat Fee: The Client shall pay the Contractor a flat fee of [Dollar Amount] for the completion of [Specific task or deliverable].

Option C: Retainer: The Client shall pay the Contractor a monthly retainer of [Dollar Amount].

Payment Terms: Invoices will be submitted [Frequency, e.g., monthly] and are due within [Number] days of receipt.

Expense Reimbursement: The Client will reimburse the Contractor for reasonable and necessary expenses incurred in connection with the services, subject to prior written approval.

Late Payment Penalty: Late payments shall accrue interest at a rate of [Percentage] per month, or the maximum rate permitted by North Carolina law, whichever is lower.

Payment Methods: [List permissible payment methods, e.g., check, electronic transfer].

4. Ownership of Work Product

All work product, client records, and supporting documentation created or accessed by the Contractor in connection with the services shall be the sole property of the Client. The Contractor shall not use or retain any such materials for any purpose other than providing the services under this Agreement.

5. Confidentiality and Data Protection

The Contractor acknowledges that they will have access to confidential information of the Client, including financial and personal information. The Contractor shall comply with the NC Identity Theft Protection Act, relevant IRS privacy rules (e.g., IRC Section 7216), and professional standards regarding confidentiality. This obligation extends beyond the termination of this Agreement.

The Contractor shall not disclose any confidential information to any third party without the Client's prior written consent.

6. Independent Contractor Status

The parties agree that the Contractor is an independent contractor and not an employee of the Client. This Agreement does not create an employer-employee relationship. The Contractor is responsible for all federal, state, and local taxes (including income and self-employment tax) and insurance (including professional liability/errors and omissions insurance). The Contractor acknowledges they are free to provide services to other clients.

Insurance Requirements: The Contractor must maintain professional liability insurance (errors and omissions) with a minimum coverage of [Dollar Amount] meeting AICPA or NCACPA standards.

7. Professional Licenses and Compliance

The Contractor represents and warrants that they possess all current professional licenses and credentials required by North Carolina law to perform the services under this Agreement, including [Specific Licenses, e.g., CPA license from the NC State Board of CPA Examiners].

The Contractor shall comply with all applicable North Carolina statutes, regulations, and ethical obligations, including anti-money laundering and anti-fraud provisions.

8. Professional Independence and Conflicts of Interest

The Contractor shall maintain professional independence and avoid conflicts of interest in accordance with North Carolina General Statutes and the AICPA Code of Professional Conduct. The Contractor shall promptly disclose any potential conflicts of interest to the Client.

The Contractor shall not accept any benefit or enter into any relationship that could impair their professional judgment.

9. Liability and Indemnification

The Contractor shall be liable for any damages caused by their negligence or willful misconduct in performing the services under this Agreement.

The Contractor shall indemnify and hold harmless the Client from any claims, losses, or expenses arising out of the Contractor's breach of this Agreement or any negligent or wrongful act or omission. This includes, but is not limited to, errors and omissions, late filings, miscalculations, client exposure to penalties, and third-party claims.

Notification: The Contractor shall promptly notify the Client of any potential claims or liabilities.

10. Non-Solicitation/Non-Competition (Optional)

Option A: During the term of this Agreement and for a period of [Number] months following its termination, the Contractor shall not solicit or attempt to solicit any clients or employees of the Client within a [Number] mile radius of [Client Address].

Option B: This agreement does not contain non-solicitation or non-competition clauses.

Enforceability: The parties acknowledge that the enforceability of this non-solicitation/non-competition clause is subject to North Carolina law.

11. Records Retention, Audit Rights, and Transition

The Contractor shall maintain accurate and complete records of all work performed under this Agreement for a period of [Number] years following the termination of this Agreement, as required by North Carolina law and industry best practices.

The Client shall have the right to audit the Contractor's records relating to the services provided under this Agreement.

Upon termination of this Agreement, the Contractor shall promptly return all client records and work product to the Client and cooperate with any successor contractors or auditors.

12. Term and Termination

This Agreement shall commence on [Start Date] and shall continue for a term of [Number] months, unless earlier terminated as provided herein.

Option A: This Agreement shall automatically renew for successive [Number] month terms unless either party provides written notice of termination at least [Number] days prior to the end of the then-current term.

Either party may terminate this Agreement upon [Number] days written notice to the other party.

The Client may terminate this Agreement immediately for material breach or professional misconduct by the Contractor.

Upon termination, the Contractor shall provide a final accounting and handover all work product and client property within [Number] days.

13. Dispute Resolution

The parties shall attempt to resolve any disputes arising out of or relating to this Agreement through good faith negotiation.

If the parties are unable to resolve the dispute through negotiation, they shall submit the dispute to mediation in [City, North Carolina].

If mediation is unsuccessful, the parties may pursue arbitration in [City, North Carolina] or litigation in the exclusive courts located in [County, North Carolina].

This Agreement shall be governed by and construed in accordance with the laws of the State of North Carolina.

14. Miscellaneous

This Agreement may be amended only by a written instrument signed by both parties.

The Contractor shall not assign this Agreement without the Client's prior written consent.

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, or government regulation (force majeure).

This Agreement constitutes the entire agreement between the parties and supersedes all prior or contemporaneous communications and proposals, whether oral or written.

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

No waiver of any provision of this Agreement shall be effective unless in writing and signed by the waiving party.

15. Notices

All notices under this Agreement shall be in writing and shall be deemed to have been duly given when delivered personally, sent by certified mail, return receipt requested, or sent by email to the addresses set forth above.

Email notices are effective upon [Specific timing, e.g., acknowledgement of receipt or 24 hours after sending].

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

[Client Legal Name]

By: [Client Signature]

Name: [Client Printed Name]

Title: [Client Title]

[Contractor Legal Name]

By: [Contractor Signature]

Name: [Contractor Printed Name]

Title: [Contractor Title]