Advice/reports and letters

1. Except where specifically stated to the contrary, our advice / reports and letters are to be addressed to the same addressees as this letter.

2. The reports/advises must be used by the addressees only for the purposes stated.

3. Our advice / reports and letters must not be made available or copied in whole or in part to any other person without our written permission.

4. We accept no responsibility to any party other than those to whom our reports and letters are addressed unless specifically stated to the contrary by us in writing. We accept no responsibility for any reliance that may be placed on our reports and letters should they be used for any purpose other than that stated in reports.

Fee Rounding off

The fee mutually agreed will be rounded off as under:

Fee Amount( Rs)	Rounded Off  to nearest Rs ( lower or upper as may be applicable)
Upto 10,000	100
10,001-1,00,000	500
1,00,001-1,00,00,000	1000
Above 1,00,00,000	10000

Retention of Documents

5. It is our practice we destroy documents belonging to us after they are more than three years old unless they are statutorily required to be retained for a longer period. Your acceptance of these terms includes your consent for us to destroy any documents that strictly belong to you which have been filed amongst our own papers.

Communication

6. During our performance of the Services we may wish to send messages and/or documents to each other by e-mail. As email carries with it the possibility of inadvertent misdirection, or non-delivery of confidential material, unless you notify us otherwise acceptance of the terms of this engagement are deemed as your consent to the use of e-mail in accordance with this clause.

7. Where messages are sent by e-mail, both parties agree to adopt the following procedures :

7.1 If sending a confidential e-mail message, the sender will indicate if a response is not wanted in an electronic form. All risks connected with sending by e-mail commercially sensitive information relating to your business are borne by you and are not our responsibility. If you do not accept this risk, you should notify us in writing that e-mail is not an acceptable means of communication.

7.2 Both parties will carry out procedures to protect integrity of data, in particular, it is the recipient’s responsibility to carry out a virus check on any attachments before launching any documents, whether received on disk or otherwise.

7.3 Irrespective of whether the Deliverables are transmitted by email/fax/post/courier, our Statements/ Opinions/Advice, will be legally binding on us, only if signed by any one of the Partners.

Performance Time

8. We will use our best endeavors to carry out our obligations in accordance with the time scales set out in the Engagement or Confirmation Letters or as otherwise agreed. However, the dates contained in the Engagement Letter or otherwise advised are indicative dates and are not contractually binding.

9. The delay in providing information at your end would increase the performance time accordingly.

Information

10. It would be the responsibility of your organization to provide in a timely fashion all information and documents reasonably required to enable us to provide the services.

11. Unless otherwise stated in the Engagement Letter, we will not independently verify the accuracy of such information and documents and we will not be liable for any loss or damage arising from any inaccuracy or other defect in any information or documents supplied by you.

12. It would be the responsibility of your organization to promptly provide all the information required for the aforementioned scope of work in the manner and format provided by Verendra Kalra & Co. Our services would depend on your organization providing us the

Intellectual Property

13. Intellectual property rights in all documentation, systems, materials, methodologies and processes created in the course of the assignment shall remain and be vested as the property of Verendra Kalra & Co.

Confidentiality

14. We will treat as confidential all information provided by or on behalf of you and will not disclose such information without your prior written approval. This undertaking shall not apply to any information that we are required by law or by the requirements of any regulatory authorities or by specific professional standards to disclose or that is in or subsequently enters the public domain.

15. In accordance with the Statement on Peer Review issued by the Institute of Chartered Accountants of India, our attestation services may be subject to a peer review to be conducted by an independent reviewer who can inspect, examine or take abstract of our work papers including those provided by you.

Payments

16. The payment of the bill will be due within 15 days of its presentation. 
17. VKC reserves the right to charge interest on delayed payments as per provisions of the MSMED Act. 
18. The receipt of payments against bills will be allocated as decided by VKC. Normally, payments are allocated towards bills, which have been raised the earliest. 
19. Credit notes requested beyond time limit under GST will be financial credit notes, which will be issued without reversing the tax on the fee value of the credit note.

 

Disclaimer

We shall inform you in writing by E-mail or otherwise well before the due dates for any information/documents required by us. However, we are not expected as part of the engagement to send subsequent reminder(s) to you in case you do not respond, though we may voluntarily do so. Any legal or other consequences of failure on your part to respond to our communications as a result of which we are unable to render the services will be fully your responsibility.