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SERVICE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Agreement made and entered into this ____day of ___________ in


____ City, by and between:

_____________________., a corporation duly organized


and existing under and by virtue of the laws of the
Philippines with principal office located at
_________________________ represented by its President/
General Manager, ________________, hereinafter referred
to as the CLIENT;

- and -

GCU ACCOUNTING FIRM, a corporation/partnership


duly organized and existing under and by virtue of the
laws of the Philippines with principal place of address at
_____________________ represented herein by its General
Manager, GRACE D. CU, hereinafter referred to as the
GCU;

WITNESSETH:

WHEREAS, GCU is a duly licensed accounting firm providing persons,


corporations and other entities with professional services on governmental
compliance.

WHEREAS, the CLIENT is in need of and desires to engage the services of


GCU;

NOW, THEREFORE, for and in consideration of the premises and


covenants and undertaking herein stipulated, the parties hereto have agreed as
follows:

A. SCOPE OF SERVICES. GCU agrees and undertakes to perform the


following professional services:

1. BUREAU OF INTERNAL REVENUE (BIR)

a. Preparation, Monitoring and Analysis of Monthly /


Quarterly VAT Returns or Percentage Tax Returns

b. Preparation, Monitoring and Analysis of Quarterly Income


Tax Returns including required attachments

c. Preparation and Monitoring of Monthly Withholding Taxes


on Compensation and Final Taxes if theres any
d. Preparation and Monitoring of Expanded Withholding taxes
including required attachments

e. E-submission of various reports required by BIR such as


Monthly Alphalist of Payees, Employees and Summary of
Alphalist of Withholding Taxes

f. Recording and Submission of VAT Relief Summary of


Sales and Purchases

g. Stamping of books

h. Assistance and Analysis of Alphabetical List of Employees


and Alphabetical List of Payees to be submitted to the BIR

i. Reconciliation of major Balance Sheet and Income Statement


accounts such as sales, purchases, etc.

j. Preparation of Audited Financial Statements and


Preparation of Annual Income Tax Return (Certification of
Audited Financial Statements not included)

k. Preparation/Submission of other reports that BIR may


require the Company to comply.

2. SECURITIES AND EXCHANGE COMMISSION (SEC)

a. Submission of Audited Financial Statements duly stamped


by BIR
b. Preparation and filing of General Information Sheet (GIS)

c. Preparation/Submission of other reports that SEC may


require the Company to comply.

3. SSS, HDMF AND PHILHEALTH

a. Assistance in the registration with SSS, HDMF and


Philhealth

b. Assistance in the payment of monthly contributions and


loans

c. Assistance in the posting of contributions

4. REAL-TIME CONSULTATION

Giving of advices and recommendations that are beneficial to the


company

B. PROFESSIONAL FEES AND EXPENSES. The CLIENT agrees to


pay GCU for the services it will render, as follows:
1. A retainer fee of Php2,500 payable at the end of each month;

2. Out of pocket expenses that may be incurred in connection with


the conduct of the engagement such as minimal transportation
and communication expenses shall be reimbursed and charged to
the account of the Client.

3. The agreed professional fees may be reviewed and evaluated


every year to assess any adjustments as the parties may deem
just.

4. An adjustment may be agreed upon based on but not limited to


the following factors:

a. Significant increase or decrease in the volume of


transactions;
b. Significant changes in the scope of work;

C. EXCLUSIONS. The following services are excluded under this


contract:

1. Application, renewal and amendment of business permits and


licenses;

2. Settlement of BIR LOAs, LNs, TVNs and other related matters.

3. SEC application of increase in capital, amendments of articles and


by-laws and other related matters.

D. COMMENCEMENT OF CONTRACT. GCU shall commence its


services to the CLIENT on _______________ until ______ unless
sooner terminated or renewed by both parties.

E. CLIENT RESPONSIBILITY. It is the responsibility of the


Management of the Client to make available the documents needed
in order for GCU to perform its professional services, such as:

1. Recording/Updating of Sales in the Sales Journal;

2. Recording/ Updating of Disbursement and Purchases Journal;

3. Make available all supporting documents such as vouchers,


sales invoices, delivery receipts, official receipts and other
needed documents.

F. CONFIDENTIALITY AND NON-DISCLOSURE. This contract is


strictly confidential. It is made available on the strict understanding
that it will not be shown, read or passed on to any other person who
is not authorized to receive the same.

At the same time, any business information of the CLIENT which will
be known and handled by GCY during the course of the engagement
will be treated as confidential matter and will only be furnished to
the CLIENT and other authorized parties.

G. DISCLAIMER OF LIABLITY. The maximum liability of GCU


relating to the services rendered under this contract shall be limited
to the charges paid to it or for the portion of its products or services
rendered giving rise to the liability. In no event shall GCU be liable
for any consequential, special, incidental or punitive loss, damage or
expense, including and without limitation to lost profits, opportunity
costs, etc. even if the possible existence of the same has been advised.

The CLIENT shall hold harmless GCU and any of its personnel for
and against any claims, liabilities, costs and expenses brought
against, paid or incurred by GCU at any time and in any way arising
out of or relating to my services under this proposal, except to the
extent finally determined to have resulted from GCUs gross
negligence or willful misconduct, if any.

The CLIENT shall indemnify GCU and any of its personnel in case it
has caused damages arising from or in relation to the services
performed under this contract.

This provision shall survive the termination of this agreement for any
reason.

H. TERMINATION OF THE CONTRACT

1. This Agreement may be terminated for breach of the provisions


herein or by unsatisfactory fulfillment by either party. Provided,
that written notice be given to the party at fault within thirty (30)
days prior intended termination date.

2. All fees due and unpaid shall be charged an interest of twelve


percent (12%) per annum from the time of the written demand for
payment and the total unpaid balance including interest charges
will earn an additional interest of five percent (5%) per annum
commencing from the date the contract is terminated until fully
paid.

I. VENUE OF ACTION. This Agreement shall be governed and


construed in all respects in accordance with the laws of the Republic
of the Philippines. In case of any litigation arising out of this
Agreement, the venue shall be in the city of ______ only.

IN WITNESS WHEREOF, the parties hereto have hereunto set their


hands on this _______ day of ______________________.
________________________ GCU ACCOUNTING FIRM
CLIENT

By: By:

_____________ Grace D. Cu
President and General Manager General Manager

SIGNED IN THE PRESENCE OF:

__________________________ ___________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)


CITY OF ____________ ) S.S.

BEFORE ME, a Notary Public for and in _______________ on this ______


day of ___________________ personally appeared:

Name SSS/TIN/Passport Date/Place Issued


Drivers License No.

_______________________ ________________ _______________

________________________ __________________ ________________

all known to me to be the same persons who executed the foregoing instrument
and who acknowledged to me that the same is their free and voluntary act and
deed of the corporations they respectively represent.

WITNESS MY HAND AND SEAL.

Doc. No. Notary Public


Page No.
Book No.
Series of 2017.