Finance Payroll Processing Agreement
Finance Payroll Processing Agreement
Date: [MM-DD-YYYY]
Agreement No.: [Agreement Number]
This Finance Payroll Processing Agreement ("Agreement") is made and entered into by and between [Your Company Name] ("Service Provider") and [Secondary Party’s Name] ("Client"), collectively referred to as the "Parties."
1. Services:
The Service Provider agrees to perform payroll processing services for the Client, which include but are not limited to calculating payroll, distributing pay to employees, withholding and remitting taxes, and filing necessary government reports.
2. Term of Agreement:
This Agreement shall commence on [Start Date] and shall continue in effect until [End Date] unless terminated earlier as provided herein.
3. Compensation:
The client agrees to pay the Service Provider a fee of [Amount] per payroll cycle or [Amount] annually. Payment shall be due upon receipt of the invoice from the Service Provider.
4. Confidentiality:
Both parties agree to maintain the confidentiality of the information exchanged and processed as part of this Agreement, including but not limited to employee data, company financials, and payroll details.
5. Responsibilities of the Client:
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Provide accurate and timely employee data, including hours worked, leave records, and any other information necessary for accurate payroll processing.
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Notify the Service Provider of any changes in employee status, compensation, or company structure that may affect payroll processing.
6. Responsibilities of the Service Provider:
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Ensure accurate calculation of wages, tax withholdings, and other deductions.
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Process payroll in a timely manner on the agreed-upon dates.
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Maintain compliance with all applicable laws and regulations related to payroll processing.
7. Liability:
The Service Provider shall not be liable for any errors or omissions due to inaccurate or incomplete information provided by the Client. The Client agrees to indemnify and hold the Service Provider harmless against any claims or liabilities arising from such errors or omissions.
8. Termination:
Either party may terminate this Agreement with [notice period], written notice to the other party. Upon termination, the Client shall pay any outstanding fees for services rendered up to the termination date.
9. Governing Law:
This Agreement shall be governed by the laws of the state where [Your Company Name] is located.
10. Entire Agreement:
This document contains the entire agreement between the Parties and supersedes any prior or contemporaneous negotiations or agreements, whether oral or written, related to this subject matter.
IN WITNESS WHEREOF, the Parties hereto have executed this Finance Payroll Processing Agreement as of the last date written below.
[Your Company Name] Signature: ______________________
Name: [Your Name]
Title: [Your Title]
Date: [MM-DD-YYYY]
[Secondary Pary’s Name] Signature: ______________________
Name: [Client Representative Name]
Title: [Client Representative Title]
Date: [MM-DD-YYYY]
