Terms and Conditions

1. Scope and Contractual Basis

Welcome to LedgerHarborX! These Terms and Conditions govern the legal relationship between our accounting systems and bookkeeping services company and our accounting clients. They are an essential part of every service contract and apply to all types of accounting, bookkeeping, and financial record management services that we offer for clients in Canada.

2. Accounting Relationship and Service Agreement

2.1. Contract Formation – An accounting relationship is established through the explicit acceptance of a service request by LedgerHarborX. An initial inquiry or consultation does not yet establish a binding accounting relationship.
2.2. Client Cooperation – The client commits to providing all information and business documents relevant to their accounting and operational matters completely and truthfully, and to inform LedgerHarborX about all relevant developments regarding their accounting situation that could influence our services.
2.3. Service Scope – The specific service obligation arises from the individual accounting service contract. Unless expressly agreed otherwise, the services do not include specialized services that require external providers.
2.4. Accounting Communication – The client agrees to communication via email, telephone, and other electronic means, unless otherwise agreed in writing. LedgerHarborX helps professional communication according to Canadian accounting standards.

3. Fees and Accounting Billing

3.1. Fee Agreement – Unless otherwise agreed, fees are calculated based on the chosen accounting service package plus additional services and applicable taxes.
3.2. Service Deposit – LedgerHarborX is entitled to request an appropriate deposit for reserving and providing accounting services. The initiation or continuation of services may be made dependent on payment of a deposit.
3.3. Invoicing – Invoicing is generally done monthly or according to agreed payment plans for accounting services. Invoices are to be settled within 14 days of the invoice date without deduction.
3.4. Additional Accounting Expenses – In addition to regular accounting service fees, necessary expenses such as financial research expenses, accounting evaluation fees, external consultation costs, and accounting travel expenses may be billed separately.

4. Liability and Warranty

4.1. Liability Limitation for Accounting Services –

LedgerHarborX is liable for damages only in cases of intent and gross negligence in the provision of accounting services.
Liability for slight negligence is limited to an amount of CAD 500,000 per damage case.
This liability limitation does not apply to personal injury or in cases of mandatory legal liability.
4.2. Limitation Period – Claims for damages against LedgerHarborX expire within one year from the time when the client gained knowledge of the circumstances giving rise to the claim or should have gained such knowledge without gross negligence.

5. Accounting Confidentiality and Discretion

5.1. Confidentiality – LedgerHarborX commits to strict confidentiality regarding all accounting information and business data that become known during the professional relationship.
5.2. Reference Mention – The client agrees that LedgerHarborX may name them or their accounting profile as a reference, unless expressly agreed otherwise. This does not include specific details about the client's accounting matters or internal financial strategies.
5.3. Data Protection – The processing of personal and accounting-related data is carried out in accordance with our separate Privacy Policy, which is an essential part of these Terms and Conditions.

6. Termination of Accounting Relationship

6.1. Termination Right – The accounting relationship can be terminated by both the client and LedgerHarborX with a notice period of 30 days, unless otherwise indicated in the accounting service contract. In case of significant changes in service requirements, a different notice period may be agreed.
6.2. Final Invoice – After termination of the accounting relationship, LedgerHarborX creates a final invoice for accounting services and expenses not yet billed. Prepayments are credited according to our refund policy.

7. Refund Policy

LedgerHarborX commits to fair and transparent billing practices for all accounting services. Our refund policy considers circumstances under which prepaid service offerings could not be utilized:

Initial Consultation Fee – For all accounting services, there is a non-refundable initial consultation fee of CAD 350 to cover preliminary accounting assessment and administrative setup.
Service Cancellation by Client – For accounting service cancellations where administrative work has already begun, a proportional refund based on the percentage of completed work minus administrative fees is provided. For accounting analysis services, no refund is available once reports have been presented to the client.
Temporary Service Interruption – Clients can pause certain ongoing accounting services for a period of up to 2 months without completely terminating the contract, provided this is communicated in writing at least 14 days in advance. Monthly accounting service fees are reduced by 50% during this time.
Service Adjustments – Switching to a lower accounting service package may include an adjustment fee and requires a notice period of at least 30 days. Upgrades to more comprehensive accounting services can be made at any time without additional fees.
Service Interruptions – For accounting service interruptions caused by LedgerHarborX that last longer than 48 hours, clients are entitled to a proportional fee waiver for the downtime plus an additional credit of 10% of the monthly service fee as compensation.
Force Majeure – For interruptions due to force majeure (natural disasters, pandemics, strikes, etc.), LedgerHarborX will endeavor to find alternative accounting solutions without being obligated to provide refunds.

All refund requests must be submitted in writing to billing@ledgerharborx.com. Processing of refunds typically takes 5-7 business days from the date of the approved request.

8. Compliance and Accounting Ethics

8.1. Accounting Ethics – LedgerHarborX commits to compliance with all applicable regulations in the field of accounting systems and bookkeeping services for clients. The client agrees to cooperate in necessary verification measures and provide required accounting information and documents, if applicable.
8.2. Conflicts of Interest – LedgerHarborX reserves the right to decline or terminate accounting relationships if conflicts of interest exist or arise during the professional relationship that could impair the quality of our accounting services.

9. Legal Provisions

9.1. Applicable Law – The accounting relationship and all related claims are subject exclusively to Canadian law.
9.2. Jurisdiction – Jurisdiction for all disputes arising from or in connection with the accounting relationship is, insofar as legally permissible, Canada.
9.3. Severability Clause – Should individual provisions of these Terms and Conditions be or become invalid, the validity of the remaining provisions remains unaffected. Invalid provisions are replaced by those that come closest to the economic purpose.