This Accounting Services Agreement (the “Agreement”) shall enter into force at the moment when the Client (the Assignor) agrees with the texts of this Agreement and effectively pays for the selected package of accounting services. By making payment for the chosen package you agree with the terms and conditions of this contract.

Contractor of the accounting services: Innovative services EOOD(SMLLC), presented by Svetla Staykova, with an address of 19 Str. ”Dimitar Naumov”, Stara Zagora, Bulgaria, UIN:205665810, is-bg.online, office@is-bg.online, +359876340012.

I. SUBJECT OF THE CONTRACT

Art. 1. The assignor assigns, and the contractor accepts, against remuneration, to perform written and oral accounting and consulting services, ensuring the functioning of the free profession by the Bulgarian accounting and tax legislation.

II. RIGHTS AND OBLIGATIONS OF THE ASSIGNOR

Art. 2. The contracting authority shall have the right to:

1. to receive current and reliable information about his financial, accounting, and tax condition;

2. to control and give opinions and recommendations regarding the activity of the contractor;

3. to require documentation of the remuneration paid to the contractor;

4. to request competent consultations regarding its future plans and projects for modernization of the reporting and introduction of modern information technologies for management and control.

5. Under Regulation (EU) 2016/679 on the protection of personal data, the data subject is entitled to:

· Awareness;

· Access to your personal data;

· Correction (if the data is incorrect);

· Deletion of personal data (right to be forgotten);

· Restriction of processing by the controller or processor;

· Portability of personal data between different administrators;

· Objection to the processing of his personal data;

· The data subject has the right not to be the subject of a decision based solely on automated processing, including profiling, which has legal consequences for the data subject or in a similar way significantly affects;

· Right to judicial or administrative protection if the rights of the data subject are violated.

The information provided to the contractor is required under Bulgarian law and therefore no additional declaration of consent is required to provide the data used.
· All documents submitted to and prepared by the contractor are stored in accordance with the requirements and deadlines in Bulgarian law.

Art. 3. The contracting authority undertakes:
1. to provide the contractor with all the documentation and information necessary for the complex accounting, banking, and tax services;
2. to notify the contractor about current changes in his condition;
3. to pay the remuneration agreed in this contract within the agreed terms;
4. to provide an opportunity for signing and stamping of the declarations, inquiries, and payment documents necessary for submission;
5. to maintain sufficient funds in its current account for the payment of current taxes and liabilities to the budget.

III. RIGHTS AND OBLIGATIONS OF THE CONTRACTOR
Art. 4. The Contractor shall have the right:
1. to receive the remuneration agreed in this contract;
2. to request from the assignor information for everything that he considers necessary for the implementation of the subject of this contract;
3. to receive the accounting and other documents necessary for the fulfillment of his obligations under this contract;
4. not to be responsible for the accounting and tax condition of the assignor before the date of concluding this contract;
5. not to be responsible for documents and business operations, drawn up, resp. performed by the assignor or persons authorized by him, as well as in the cases when he refuses to perform financial and accounting operations, proposed by the assignor, which is in violation of the Bulgarian legislation;
6. to use, at his own expense, the services of other persons or companies for the implementation of the subject of this contract, being responsible for their actions as his own.
Art. 5. The Contractor undertakes:
1. to organize and maintain the accounting condition of the company of the assignor in accordance with the provisions and principles of the Bulgarian legislation;
2. to develop and maintain an individual chart of accounts for the company, to make timely follow-up accounting entries, as well as the necessary changes in them by compiling corrective accounting items, in cases where this is necessary;
3. to keep the required synthetic and analytical accounting registers and ensure equality and connection between them;
4. to present to the assignor correctly and honestly the property and financial condition of the enterprise, the reported financial result, the changes in the cash flows, and the own capital of the enterprise, as well as to compile an annual accounting report;
5. to prepare and submit within the established legal terms the payment documents, references, and tax declarations required according to the current normative regulation;
6. to be responsible for the organization of the accounting activity in the enterprise, including for the admitted delays in submitting the necessary declarations and references;

7. to carry out the annual closing of the company in accordance with the requirements of the Accounting Act, the national, resp. international accounting standards and in compliance with the provisions of applicable tax law without requiring additional remuneration;
8. to monitor and correctly apply the occurred changes in the current legislation, which are related to the subject of activity of the present contract;
9. to give timely and competent consultations to the assignor, aimed at reducing his tax liabilities;
10. to document the remunerations received by the assignor;
11. to represent the assignor before the bodies of the tax administration, RUSO, etc. competent authorities in their inspections and audits concerning the activity subject to this contract;
12. not to disseminate in any form the information received during or on the occasion of the implementation of this contract;
13. to return all the accounting documentation in his possession upon termination of the contract.

IV. REMUNERATION
Art. 6. (1) The assignor shall be obliged to pay remuneration in the amount of the selected package of accounting services, corresponding to the actual document turnover and the number of employees of the company.
(2) The remuneration shall be paid within ten days from the issuance of the invoice.
(3) The assignor shall pay the agreed remuneration to the contractor by bank transfer to the account of the contractor, indicated in the invoice.
(3) The amount agreed as remuneration under this contract may be changed by mutual written agreement of both parties to the contract, in case of significant change in the volume of work performed by the contractor.

(4) The contractor has the right to charge a different amount if the volume of the work is not responding to the conditions in the chosen accounting package of the assignor.

V. PENALTIES
Art. 7. (1) The Contractor shall owe to the assignor a penalty in the amount of one monthly fee if he has not fulfilled or has incorrectly (poor quality or untimely) fulfilled any of his obligations under this contract.
(2) The executor shall not bear responsibility and shall not owe a penalty in the cases of art. 4, items 4 and 5 of this contract, as well as when the assignor has not submitted documents necessary for accounting, has submitted documents without the requisites required by the Accounting Act, false documents, documents with false content, forged documents or documents issued by a person, which does not exist or by a person who carries out the commercial activity without tax registration and these facts have been established during the audit and/or inspection.
(3) The Contractor shall not be liable and shall not owe any penalty in the cases when the Assignor has not submitted, has submitted untimely and/or incorrect information, accounting, and/or another document necessary for the fulfillment of the Contractor’s obligations under this contract, as well as when has not provided cash in its current account for the payment of current taxes and liabilities to the budget and as a result, precautionary measures have been imposed on the assets of the enterprise.
Art. 8. In case of unpaid remuneration in time, the assignor shall owe the contractor a penalty in the amount of 1% for each overdue day, but not more than one monthly fee.

VI. TERMINATION
Art. 9. (1) This contract shall be concluded as indefinite and shall be terminated with one month’s written notice to each of the parties.
(2) Upon termination of the contract as of December 31, the contractor shall be obliged to perform the annual accounting closing.

VII. OTHER TERMS
Art. 10. All disputes arising in the implementation of this contract will be settled by mutual agreement, and when this proves impossible – under the CPC, CPA, and applicable regulations.
Art. 11. All documents to the NRA will be submitted with the electronic signature of the Contractor’s representative, Svetla Delcheva Staykova, after proper authorization.