Accounting Asset Maintenance Contract
This Contract is made and entered into on this [Day] day of [Month], [Year], by and between [Your Company Name] with its principal place of business located at [Your Company Address] (hereinafter referred to as the "First Party"), and [Your Partner Company Name / Second Party] with its principal address located at [Second Party Address] (hereinafter referred to as the "Second Party").
RECITALS
WHEREAS, the First Party desires to ensure accounting systems and related assets remain operational, reliable, and support its financial processes, stay compliant with regulatory changes, improve functionality, and address security vulnerabilities.
WHEREAS, the Second Party represents that it is willing and capable of providing such services.
NOW, THEREFORE, in consideration of the foregoing, and of the mutual covenants contained herein, the Parties hereto agree as follows:
I. SERVICES
The Party who is referred to as the Second Party in this contract, gives its agreement and consent to perform and deliver its services. These services should be performed in accordance with, and to the standards specified by the provisions, guidelines, and conditions that have been outlined in great detail in the Statement of Work. Please refer to the Statement of Work that has been attached with this contract as Exhibit A for these specifics. Furthermore, it's important to note that Exhibit A does not just serve as an attachment, but it is integral to this contract and thus, is considered to be incorporated into the body of this contract as a reference.
II. TERM AND TERMINATION
This Agreement shall officially begin on the specified [Start Date] and it is expected to persist through the specified [End Date]. However, it is important to note that this agreement could be terminated prior to the [End Date], assuming termination procedures are observed and carried out as detailed within the conditions, terms, and stipulations provided within this document.
III. COMPENSATION
In recognition of the services that the Second Party has provided according to the stipulations detailed in this agreement, it becomes the responsibility of the First Party to furnish compensation to the Second Party, the specifics of which are laid out as part of the [Payment Details].
IV. CONFIDENTIALITY
Each party involved in this agreement are compelled to keep all information that is received from their counterparts in an utmost confidential manner. They are strictly prohibited from divulging any such details to unwarranted individuals or entities. Furthermore, it is mandatory that they use such information exclusively for the purposes that are specifically outlined in this Agreement. This information should not be used under any circumstance for any activities or purposes that fall outside the boundaries of this Agreement.
V. REPRESENTATIONS AND WARRANTIES
Both Parties represent and warrant that they are fully authorized and empowered to enter into this Agreement and that their performance of the obligations under this Agreement will not violate any agreement between themselves and any other person, firm or organization or any law or governmental regulation.
VI. DISPUTE RESOLUTION
Should any disagreements or disputes arise under the terms and conditions of this Agreement, it is agreed that they will be resolved through arbitration. The arbitration process will be held in the city of [City] adhering to the rules and procedures that are then in effect by the American Arbitration Association.
VII. INDEMNIFICATION
Each party agrees to indemnify and hold harmless the other party from any and all claims, losses, damages, liabilities, costs, and expenses (including reasonable attorney’s fees) arising out of or in connection with any breach of any representation, warranty, or agreement hereunder.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.
[Your Company Name]
______________________________
[Your Name]
[Your Job Title]
[Your Partner Company Name / Second Party]
______________________________
[Your Client / Subscriber / User Name]
[Your Client / Subscriber / User Job Title]
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