TERMS OF BUSINESS

Last updated: January 22, 2020

TAKO Virtual Solutions Ltd., (“TAKO VS” or “We”), an Administrative Consultancy providing remote administrative business support & consultancy services to business Owners & entrepreneurs.

 

Engagement

  1. A phone consultation or meeting of up to one hour in duration, is free for new clients.
  2. We reserve the right to validate your identity. This may include asking you for further information, requiring you to take steps to confirm ownership of your email address, verifying your information against third party databases or through other sources such as a copy of your ID. For bookkeeping clients this is standard procedure in order to comply with Anti Money Laundry Regulations.
  3. Prior to the commencement of a new project or task, we will send a consultancy agreement setting out the agreed terms, statement of work and schedule.
  4. The consultancy agreement and statement of work will contain details of the work to be performed, hourly rate, or payment package, dates of delivery, agreed deliverables, payment terms and details relating to specific or specialist tasks.
  5. The signed consultancy agreement and statement of work indicates the client’s acceptance of my terms of business.
  6. We  will not undertake any work which is believed to be unethical or unlawful.
  7. The business hours, during which standard rates apply, are set out in the consultancy agreement.  The hourly rate for work completed outside of these hours, at the client’s request, will be billed at an additional 50% and will be shown on a separate line on the invoice.
  8. We attend meetings remotely via Skype, Zoom or similar unless otherwise agreed. Should the client request a face to face meeting, the client will cover expenses incurred as well as travel time.
  9. We are available for phone calls during office hours only. Occasional calls of only a few minutes in duration are not typically billed to the Client. However, the time of both parties must be respected, and calls lasting over 10 minutes will be billed to the Client. Telephone meetings must be prescheduled. Cancellation requires a minimum of 24 hour advance notice. Missed meetings or cancellations without sufficient notice will be billed to the Client.

 

Fees

  1. Services are provided on an hourly, retainer or project basis.
  2. All charges are billed to the nearest 15 minutes.
  3. Rates are reviewed on the 1st January of each year and you will be informed of any changes in writing.
  4. Billable time includes meetings outside of contracted hours and includes the writing and/or reading of correspondence sent by mail or email as well as travel time to and from meetings.
  5. All expenses such as postage, printing and other stationery expenses bought on behalf of your business will be added to the invoice for reimbursement. Any 3rd party software required for me to complete the work required by you will need to be paid for by you. We will seek your approval prior to the purchase.
  6. Expenses will be listed on the invoice as a separate line item.

 

Payment Terms

  1. We reserve the right to bill new clients up front with all subsequent invoices at the frequency agreed in the consultancy agreement.
  2. Monthly retainer packages are billed up front at the beginning of the month.
  3. If the project is lengthy, we may invoice periodically for completed stages. Projects over 10 hours require a 50% payment prior to the commencement of the project.
  4. Should ongoing project work be suspended or delayed through any default of the client, TAKO VS shall be entitled to immediate payment for work already carried out and expenses incurred.
  5. Unused retainer package hours are non-transferable and cannot be rolled over to the next month’s service.
  6. Terms of payment is 7 days from the invoice date.
  7. Payments should be made by bank transfer, direct debit, or in exceptional circumstances via Credit Card (Stripe). Account details are provided on each invoice.
  8. Monthly rolling contracts require setting up of recurring payments which will be arranged by TAKO VS.
  9. A detailed time report will be provided with the invoice unless you request otherwise.
  10. Once an invoice becomes overdue no further work will be undertaken. We reserve the right to refuse completion or delivery of work until past due balances are paid. All materials or property belonging to the Client, as well as work performed, may be retained as security until all just claims against the Client are satisfied.
  11. Late payments may accrue interest from the date  the invoice becomes overdue and is due at the annual rate of 5% above the base lending rate from time to time of the official dealing rate of the Bank of England, accruing on a daily basis and being compounded quarterly until payment is made, whether before or after any judgement and the Client shall pay the interest immediately on demand.
  12. In the event of collection enforcement, you shall be liable for any costs associated with such collection, including, but not limited to, legal costs, attorney’s fees, courts costs, and collection agency fees.

 

Responsibilities

  1. The Client will provide all content, outlines, photos, product images, etc., necessary for any special projects. Source material must be clear and legible. The Client is responsible for furnishing all pertinent information, and for furnishing accurate, truthful and complete information necessary for me to perform or complete the Services. The Client ensures that the necessary permissions to use provided materials have been obtained.
  2. The nature and content of the work will be kept confidential and not made known to anyone other than the Client and its contractors without prior written permission.
  3. We guarantee that any work that we subcontract on behalf of the Client will be completed to the same standard, schedule and budget and with the same conditions of confidentiality.
  4. Under the terms of the the General Data Protection Regulation, (GDPR) (EU) 2016/679, the Client and TAKO VS may keep on record such information (e.g. contact details) as is necessary. Either may view the other’s records to ensure that they are relevant, correct and up to date.
  5. We take reasonable precaution to safeguard any property belonging to you and made available to TAKO VS for the purpose of the service.
  6. All such materials in our custody will be destroyed six months after completion of the service and hand over to you.
  7. Final proofreading and checking of all work supplied is the responsibility of the client.
  8. Any content created by TAKO VS as part of a copy-editing/proofreading/project management process will become the copyright of the Client, unless otherwise agreed.
  9. Any errors must be reported within three (3) days of receipt of completed work. Errors generated by TAKO VS will be rectified in our own time and at our expense but amendments or alterations requested by the client thereafter will be charged at the standard hourly rate.

 

Obligations

  1. The completed work will be delivered on or before the date agreed, for the agreed fee, which will be based on the description of the work required and the brief, both supplied by the Client.
  2. The Statement of Work and the obligations thereunder shall terminate upon your acceptance of all Services and Work Product contemplated therein and full payment to TAKO VS thereunder. We may enter into any subsequent Statement of Work for additional Services to be performed by us which shall be subject to the terms of this Agreement, unless otherwise specified. The additional Services will be agreed in subsequent email correspondence between the Parties.

 

Termination / Cancellation

  1. The term of agreement will be agreed upon and specified in the consultancy agreement.
  2. Either party may terminate the consultancy agreement early. In the event of either party breaches the agreement immediately. Otherwise at a time which will be agreed upon and specified in the consultancy agreement, usually 15 working days.
  3. Termination notice will be given in writing via email.
  4. In the event of an early termination, I shall be paid for any portion of the services that have been performed prior to the termination in accordance with the agreement and statement of work.
  5. Where a service is undertaken on a time reservation basis (hourly or retainer basis), fees are non-refundable.
  6. Cancellation 10 working days or less prior to the commencement of a project the 1st instalment will be non-refundable.