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For purposes of this Agreement, IBS Tax & Accounting Services, Inc. is considered to be the “Service Provider”, hereafter referred to as IBS.

  1. IBS represents that the services provided pursuant hereto will conform to IBS design specifications. Except as specifically provided herein, there are no warranties, expressed or implied, including, but not limited to, any implied warranties of merchantability or fitness for a particular purpose.

  2. IBS agrees to hold in confidence all information relating to client's assets, liabilities, business or affairs which is received by IBS in the course of rendering their services.

  3. Fees are subject to change on written notice. Bills will be due in full upon presentation. Overdue accounts will accrue interest at prime rate. In the event the account is placed for collections, reasonable attorney's fees and costs will be added to the account balance. IBS reserves the right to withhold any or all work in process or records in its possession in the event of default or payment.

  4. Delivery and processing schedules will be as determined by the parties from time to time. Courier and/or mail charges will be charged as incurred.

  5. To secure any obligations now or hereafter owed by client to IBS, client grants IBS the right of set-off and a security interest under the Uniform Commercial Code in any funds which may now or hereafter be deposited by client in as escrow account.

  6. IBS shall use due care in processing client work, but shall be responsible only to the extent of correcting any errors which are due to IBS machines, operators or programmers. In any event, IBS liability with respect to this Agreement is limited to the total charge for the service provided herein and no special or consequential damages may be recovered. IBS shall not be liable for failure to provide the services herein if due to causes or conditions beyond its control. If the data submitted by client for processing is incorrect, incomplete or not in proper form, then client agrees to pay IBS its standard fees then in effect for any additional work preformed to correct such data for processing.

  7. Client agrees to hold IBS harmless from all loss, damages and expenses (including reasonable attorney fees) in connection with any claim which arises out of or as a result of this agreement or the performance of IBS. IBS accepts both responsibility and liability for the timely reporting of client payroll taxes but only based on information provided by the client and only to the extent of available funds. However, IBS does not assume liability for the improper payment of taxes due to incorrect claims of tax exemptions or deductions by the client or its employees.

  8. The accuracy and the integrity of the service are limited by the nature of the client's input. Therefore, IBS cannot be held liable for client's errors, wage and hour violations, sex discrimination, or other employment policies which may violate the law or be challenged in some other form. Numerous checks and balances are provided throughout the system. Ultimately, it is the client who must check the payroll for accuracy and reasonability. IBS responsibility will also automatically terminate should client funds he insufficient or otherwise unavailable to cover the net payroll, related payroll taxes, and processing fees.

  9. All specifications, tapes and programs utilized or developed by IBS in connection with the Agreement (except those furnished by client) are and shall remain the sole property of IBS.

  10. IBS is not an agent of client except where required for IRS deposits, filings and correspondence. Should an agency relationship be found to exist, it will automatically terminate upon the return to IBS of any check or Pre-authorized charge of client for insufficient or uncollected funds.