Vermont accounting independent contractor agreement template

Vermont Accounting Independent Contractor Agreement

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

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

and

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

1. Scope of Accounting Services

• Option A: The Contractor shall provide the following accounting services to the Client:
  • [List of Specific Accounting Services, e.g., Bookkeeping, General Ledger Management, Financial Statement Preparation, Tax Preparation (Business and Personal), Payroll Processing, Audit Assistance, Budget Forecasting, Internal Control Reviews, Regulatory Compliance].
• Option B: The Contractor shall provide accounting services as described in Exhibit A, attached hereto and incorporated by reference.

2. Deliverables and Deadlines

• Option A: The Contractor shall deliver the following deliverables according to the following schedule:
  • [Description of Deliverables]: [Submission Format], [Deadline/Frequency]
• Option B: Deliverables and deadlines will be mutually agreed upon in writing for each project or assignment.
• Option C: All deliverables must meet the accuracy standards specified by the Client and generally accepted accounting principles.

3. Work Location and Access

• Option A: The Contractor will perform services remotely.
• Option B: The Contractor will perform services at the Client's business location at [Client Physical Address].
• Option C: The Contractor will perform services both remotely and at the Client’s business location. Specific days at client location: [Days]
• Option D: The Client will provide the Contractor with [Description of Workspace/Technology Provided].
  • All data security and confidentiality obligations outlined in section 5 apply.

4. Compensation

• Option A: The Client shall pay the Contractor at an hourly rate of [Hourly Rate] per hour.
• Option B: The Client shall pay the Contractor a flat fee of [Flat Fee Amount] per project/deliverable, as defined in Section 2.
• Option C: The Client shall pay the Contractor a retainer fee of [Retainer Fee Amount] per [Frequency - e.g., month, quarter].
• Option D: Invoices must be submitted to the Client by [Invoice Submission Date].
  • Invoices must include a detailed description of services performed.
• Payment is due within [Number] days of receipt of invoice.
• Acceptable forms of payment: [List Acceptable Payment Methods - e.g., Check, ACH Transfer].
• Vermont sales/use tax: [Applicable/Not Applicable].
• Late payment accruals: [Interest Rate]% per month.
• Expense reimbursement policy: [Description of Reimbursable Expenses and Required Documentation].

5. Ownership and Confidentiality

• All work product created by the Contractor pursuant to this Agreement shall be the sole property of the Client.
• The Contractor shall maintain strict confidentiality of all Client information, financial or otherwise, and shall not disclose such information to any third party without the Client's prior written consent, in accordance with Vermont and federal privacy laws.
• Upon termination of this Agreement, the Contractor shall promptly return all Client data and information to the Client and securely delete any copies in the Contractor's possession.

6. Independent Contractor Status

• The Contractor is an independent contractor and not an employee, partner, or joint venturer of the Client.
• The Contractor is responsible for all applicable Vermont and federal tax filings, workers' compensation (if applicable), unemployment insurance, health insurance, business registrations, and all governmental filings.
• No benefits shall accrue to the Contractor as an employee of the Client.

7. Professional Licensing and Compliance

• Option A: The Contractor represents and warrants that they hold and will maintain an active Vermont CPA license (if required for the services provided).
• The Contractor shall adhere to all applicable Vermont and AICPA ethics and competency standards.
• The Contractor shall maintain continuing education as required under Vermont rules.

8. Vermont Tax and Regulatory Compliance

• The Contractor shall observe Vermont's Accountancy Statutes.
• The Contractor shall provide services free from material misrepresentation or conflict of interest.
• The Contractor shall comply with anti-money laundering requirements, if applicable.
• The Contractor shall report any professional misconduct as required by Vermont statute.

9. Subcontracting

• Option A: Subcontracting is not permitted under this Agreement.
• Option B: Subcontracting is permitted only with the Client's prior written approval.
  • Any subcontractors must meet the same licensing, insurance, and confidentiality requirements as the Contractor.

10. Liability and Indemnification

• The Contractor shall be responsible for errors, omissions, or professional negligence in their work.
• The Contractor shall indemnify the Client for losses arising from unlawful or unethical acts of the Contractor.
• The Contractor's liability under this Agreement shall be limited to [Dollar Amount or Description of Limitation], to the extent permitted by Vermont law.

11. Insurance

• The Contractor shall maintain professional liability (errors & omissions) insurance with coverage of at least [Dollar Amount].
• The Contractor shall provide proof of insurance to the Client upon request.

12. Term and Termination

• This Agreement shall commence on [Start Date] and shall continue until [End Date] or until terminated as provided herein.
• Option A: This agreement will automatically renew for successive [Duration of renewal e.g. one-year] 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 for convenience with [Number] days written notice to the other party.
• The Client may terminate this Agreement for cause immediately upon written notice to the Contractor.
• Upon termination, the Contractor shall submit a final invoice, promptly deliver all work product to the Client, and securely delete/return all Client information.

13. Dispute Resolution

• This Agreement shall be governed by and construed in accordance with the laws of the State of Vermont.
• The venue and jurisdiction for any dispute arising out of or relating to this Agreement shall be in Vermont.
• The parties shall first attempt to resolve any dispute through good faith negotiation.
• Option A: If negotiation is unsuccessful, the parties shall submit the dispute to mediation.
• Option B: Any unresolved dispute shall be submitted to binding arbitration in accordance with the rules of the American Arbitration Association.
• If arbitration is unsuccessful, the parties agree that jurisdiction and venue shall lie in the [Name of Court, e.g., Chittenden Superior Court or U.S. District Court for Vermont].

14. General Provisions

• Force Majeure: Neither party shall be liable for any failure to perform its obligations under this Agreement to the extent that such failure is caused by a force majeure event.
• Assignment: This Agreement may not be assigned by either party without the prior written consent of the other party.
• Amendment: This Agreement may be amended only by a writing signed by both parties.
• Complete Integration: This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous communications and proposals, whether oral or written.
• Severability: If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

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

[Client Legal Name]

By: [Client Name]

Title: [Client Title]

[Contractor Legal Name]

By: [Contractor Name]

Title: [Contractor Title]