1. Definition
1.1. 1% and 1% Accounting mean One Percent SA (PTY) LTD, its subsidiaries and associated businesses including but not limited to One Percent SA (PTY) LTD.
1.2. Turnover: Turnover will be determined by the revenue, sale of assets, and all monies coming into the entity on all bank accounts registered in the entity’s name.
2. Period of Service Level Agreement
2.1. The specific Retainer / Service Level agreements included in clause 4.1. below, shall be effective for a period of one (1) month, calculated from the 1st day of the month directly following the signature date of this agreement.
2.2. It is agreed that the period of this agreement will automatically renew on a Monthly basis after the first (1st) Full Month of effectiveness of this agreement and will only be terminated should the parties adhere and comply with the termination clauses (clause 3).
2.3. 1% will not take any responsibility or accountability for outstanding payments that an individual or company may owe to any governing body from the outset, duration, and after the termination of this agreement.
3. Termination
3.1. The Client hereby agrees that the Service Level Agreement will remain enforce and effective during the first full month of this Service Level agreement, unless 1% has breached any obligation in terms of this agreement and any agreement which are found to be effective. The Client hereby agrees to afford a period of seven (7) working days written notice to 1% to rectify such breach, should 1% fail to rectify such breach the Client may directly terminate the Agreement with 1%.
3.2. The Client may terminate the agreement after the first full month of operation, by giving 1% at least one (1) month confirmatory written notice.
3.3. As per the terms of our agreement in 3.2. above, any notice of termination must be provided in writing via email to the following email address: myhero@onepercentaccounting.co.za
3.4. 1% reserve the right to cancel this agreement with immediate effect in the event that it is found that the Client does not comply with the South African Legislation, and or if the Client is found to be unserviceable in terms of the service level agreement.
3.5. All services and work rendered on the financial status of the client by 1% remain property of 1% and no transfer of said property will take place whatsoever until such time that 1% has received full and final payment for all outstanding invoices this will include the outstanding monthly accounting software fees.
3.6. In the event that the client’s account is outstanding for a period of 3 payments 1% reserves their right to cancel the service level agreement and take the necessary action against the client to recover the outstanding monies owed to 1%. In the event that the client does not pay the retainer amount as per the agreement, the client will not be given access to the accounting software as the services rendered by the 1%.
4. Responsibility as the Client
By signature of this agreement the client:
4.1 Acknowledge and declares that should the Clients company’s CIPC status be “non compliant” it will be the Client’s responsibility to prioritize the payment of the submission/s and return/s.
4.2 Acknowledge that should the SARS compliance profile status be “non compliant”, it will be the Client’s responsibility to prioritize the payment of the submission/s and return/s.
4.3 Acknowledge that should CIPC and SARS compliance status be “non compliant”, the Client will be in breach of their contract and that 1% has the right to terminate the contract and resign as Accountants & Auditors.
4.4 Acknowledge that One Percent Accounting has an Ethical Responsibility to honour Accounting Laws and that they are answerable to relevant Accounting Bodies. Should the Client’s company not adhere to these rules & regulations, the contract may be cancelled.
4.5 Acknowledge that in the event that the Client fails to submit the necessary information and or bank statements to enable 1% to perform in line with the services level agreement the Client can be held responsible for penalties in line with accounting practices.
4.6 Acknowledge that the Client will update 1% on any changes in contact details as it might occur from time to time at least 5 days after such change in details.
4.7 Acknowledge that the Client will submit all relevant documentation and or information required by 1% at least 5 days before the set deadline for submissions. 1% will not be held responsible for any penalties for non-submissions if the client fails to submit within the aforementioned time period.
5. Transfer of the Agreement
5.1. In the event of a client selling its business as a going concern during the above mentioned agreement period, the 1% Service Level Agreement will remain in force for the remainder of the Agreement period and will be transferred in accordance with the sale of the business to the new owners of the business as if the contract was entered into by the new owners.
6. Confidentiality
6.1. Upon signing of this agreement both the Client and 1% acknowledges that there will be exchanging proprietary and confidential information to each other and that such information including documents will be deemed confidential.
6.2. Both the Client and 1% hereby confirms that such confidential information / documents will not be disclosed to a third party, save for when it is necessary to do so during the period which 1% may provide a service to the Client. Such undertaking includes the terms of this agreement.
7. Protection of Personal Information Act
7.1 1% guarantees its commitment to protecting its Company’s privacy and ensuring that their personal information is used appropriately, transparently, securely and in accordance with applicable laws. By signing this agreement you agree to receive, from time to time, legislative updates which may include providing information in relation to the 1% suite of service offerings.
8. Service Selection And Addendum’s
8.1. On signature of this agreement, the Client agrees to the applicable fees stipulated within the product annexure/s listed below and attached hereto. Such annexure/s shall form a material part of this agreement.
Addendum “A”: Client Information Sheet
Addendum “B”: Service Selection
Addendum “C”: 1% Variable Fee : Debit Order Instruction
Addendum “D”: Pro-forma Invoice / Fixed monthly package (Based on a pro – rata rate of the company’s previous Month’s Turnover of a maximum of 1%).
On signature / acceptance of this agreement, the Client agrees that should any Addendums be made during the contract period by 1% upon request from the client to any of the product annexures, in respect of any additional services/products required or any amendments made to any existing services/products, by the Client appending signature to the product annexure/s, the Client confirms acceptance of the new terms and conditions, and shall form a material part of this agreement.
9. Employment of 1% Accounting SA’s Staff
9.1. The Client and 1%, on behalf of their subsidiaries or related businesses, mutually agree that they will not solicit/employ, in any capacity whatsoever, including as independent contractors, the Employees / Contractors of either party during the term of the agreement and for a period of twenty-four (24) months after the date of termination of this agreement. Should any party breach this undertaking, it may enforce applicable restraint or other rights arising out the employment relationship and further reserves the right to seek recourse against the other party.
10. Payment and fees
10.1 The Client on signature of this agreement agrees to a minimum monthly recurring subscription fee of R225.22 excluding VAT. The monthly subscription fee is due and payable for the entire duration of this contract on a MONTHLY basis.
10.2 The Client on signature of this agreement agrees to a monthly retainer as stipulated in Annexure “B” & Annexure “C”.
10.3 Retainers are payable in advance on the last day of every month for the Following Month and shall be paid by means of a Debit Order Authorisation drawn on the Client’s bank account as detailed in this agreement. The first retainer will be payable on the 1st day of the day following signature of this agreement.
10.4 All payments due must be settled before or by the due date indicated on the Client’s invoice.
10.5 1% require payment/s in advance from the Client for all/any services requested or required before commencement of said services.
10.6 Should the debit order collection fail on the 1st week due for any reason whatsoever, the second debit order for the same payment period will be payable/deductible on the next debit order run the following week.
10.7 Should the debit order be returned due to non-payment an administration fee of R172.50 will be charged to the Client’s account.
10.8 In the event that the Client’s account is in arrears for a period of 30 days or more interest will be added to the account at 2% per month. These interests will be added in line with the National Credit Act 34 of 2005.
10.9 All accounts not settled within 30 days from invoice DUE date will be considered overdue.
(a) An administrative and handling fee of up to 35% may be applied to the outstanding balance.
(b) This fee covers the costs associated with managing overdue accounts.
(c) We reserve the right to hand over any account that is overdue for 30 days and more to a debt collector or collection agency.
(d) Collection fees incurred during this process are separate and will be borne by the Client.
10.10 Individual Tax Returns will only be submitted to SARS upon full payment to 1% for services rendered.
10.11 Should SARS request an audit on your tax return / VAT submission an additional fee of R450.00 (ex VAT) will be charged to administer the audit on your behalf. The same will apply should 1% need to lodge a dispute with SARS.
10.12 Accounting Software Fees, Xero, Sage etc. are charged in addition and separately on a monthly basis.
10.13 CIPC fees and charges will be added to the client’s account on an ad-hoc basis. The invoice is due and payable in line with the payment terms contained in this agreement. The fees and charges are as below:
Annual CIPC fee as per the company’s annual turnover. As per the table below:
Draftworx: R 450.00
Administration charges: R 517.50
The amounts above exclude VAT.
11. Credit Control
The client agrees that:
11.1 This request for service/s will be subject to a credit check with one or more Credit Bureau before commencement of the service.
11.2 1% may from time to time monitor the Client’s payment behaviour by researching its record at such bureau.
11.3 All payments due must be settled before or by the due date indicated on the Client’s invoice.
11.4 Failure to settle outstanding amounts in a timeously manner may result in the defaulting Client’s information being sent to the credit bureau or any other equivalent body for listing as a defaulter.
11.5 The outstanding account may be handed over to a debt collector or collections agency for collection which will incur additional costs for the defaulting Client’s account.
11.6 1% require payment/s in advance from the Client for all/any services requested or required before commencement of said services.
12. General
12.1 The Client acknowledges and agrees that whilst 1% will recommend various processes and strategies during consultations with the Client, the final decision taken as to which strategies to employ and the implementation of any strategies as developed during the course of this agreement shall be the responsibility of the Client.
12.2 This agreement constitutes the entire agreement between the parties. No variation of this agreement or representations made or warranties given, shall be of any force or effect, unless recorded in writing and signed by or on behalf of the parties, by their representatives, duly authorised thereto. It is recorded that only an Executive of 1% will be authorized to sign an agreement that departs from or varies the contents of this agreement. The undersigned hereby confirm that he/she is duly authorised by the Client to sign and approve this agreement. He/ she confirms that she/he has read and accepted the terms and conditions of this agreement. He/she furthermore confirms that all information supplied by the Client is correct and complete as stated.
