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Terms and Conditions
1. Authority Granted: The client hereby authorizes Commonwealth Cash Management Corp., (“Company”) to act on behalf of the client, as his duly authorized agent to act
in the client’s stead to provide the services designated under this agreement on the client’s behalf, as his attorney in fact, thereby, allowing the Company to acquire
information necessary to perform the services designated. However, the Company shall not provide the following services: preparation of tax returns, medical/geriatric care
management, financial and investment advice, accounting advice and legal advice. Further, the Company reserves the right to refuse performance of any services, at any
time, with or without cause, and with notice to the client within forty-eight (48) hours of such refusal.
2. Services to be provided: The Company agrees to provide the following services as requested, unless client specifically excludes any of these services in writing as follows:
document review, insurance and Medicare management and review; guardian and/or conservator bookkeeping; investment tracking; organization for tax filing; dedicated
daily money management; organization for estate planning; notorial services; budgeting and cash planning; debt reduction planning; electronic bill paying; reconciliation of accounts and statements; providing web access for recording of information and the providing of statements; lockbox mail service; providing monthly statements in writing
to client; organization of expense reports; and business bookkeeping.
3. Billing for Services Provided: All services are to be provided in keeping with the billing rates set forth in this agreement, pursuant to the hourly rates set forth with a two
hour minimum monthly charge, in billing intervals of fifteen (15) minutes minimum with travel time to be included with automobile and other expenses for transportation added,
if other than by automobile. All other expenses including, but not limited too, postage, envelopes, paper supplies and lodging shall be added where necessary at the
Company’s cost. Billing is to be made weekly by an account debit or check on Tuesday of each week for the previous week’s services, and a monthly statement, including
all fees paid, service hours accumulated, and other related charges and expense reimbursement provided on a monthly basis by written statement.
4. Client Responsibility: Client agrees to provide to the Company upon request any and all documents and access needed for the Company to perform the services agreed
upon. This includes, but is not limited to, completion of privacy statements, release of information forms, account establishment forms, bank authorizations, vender and payee
lists, full disclosure of all sources of income, and the providing of any and all instruments or documents necessary for the Company to perform the services to be provided.
5. Ethical Guidelines: The Company is bound by the ethical guidelines of the American Association of Daily Money Managers and will act on the client’s behalf pursuant to
instructions in accordance with those ethical guidelines in order to provide the client with complete, secure and accurate services. The Company will assign a Primary Client
Assistant (CA) to provide services to the client where required and will use credit and criminal background checks, preemployment and periodic drug testing, personality and
work tendencies testing, skills checking and thorough training programs, and industry certifications in hiring its CAs. Further, the Company will provide upon written request
proof of its Liability Bonding Errors and Omissions and Umbrella Insurance coverage policies.
6. Confidentiality: The Company will maintain confidentiality and the privacy of client sensitive data, including but not limited to: client names, client lists, client financial data,
client identity information, services to be provided to the client, client lifestyle information, and any and all other sensitive personal client information provided by the client to
the Company.
7. Client Obligations: In order for the Company to adequately provide services which have been requested by the client, the client agrees to the following:
To provide the necessary information for the Company to perform its duties in a timely fashion, providing quality and complete records relating to the services to be provided;
unless otherwise agreed, the client will be responsible for signing all checks and reviewing all bank statements on a monthly basis; agree to a regular schedule for Company
work to be performed in a timely fashion; maintain paper files and hard copy information at the client’s home or office, shall allow Company to create electronic copies, unless
otherwise agreed; notify the Company within forty-eight (48) hours of any changes or events that are to be put into the services to be provided by the Company; client shall
provide a work area for Company to provide services; in the event of termination of the Company’s services including termination in the event of death of the client, client
authorizes the Company to complete the current calendar month’s work, including closing of the month and payment for services; sign any necessary documentation for
release of client’s information to third-party advisors, guardians, conservators or caretakers; list emergency contact information and any medical related information
necessary for the providing of Company services; client shall not solicit employees of the Company for employment or provide gifts or compensation directly to any Company
employee; and client shall maintain and protect all security codes and passwords.
8. Indemnity: The Company is indemnified by the client for any loss or damage the client might suffer as a result of the following:
Identity theft and actions by individuals other than the Company that the client has authorized to share information, personal or financial; the actions of any professional or
other service providers where referred to the client by the Company and acting as independent contractors; internet service interruptions or delays outside the control of Company; instructions not
properly communicated to the Company and which instructions were not verified by direct communication with the assigned CA; and any losses or injuries suffered as
a result of Company’s employees acting outside the scope of their authority as defined herein, and such acts are violations of criminal law. It is understood that the company
shall carry liability insurance for the negligence or misconduct of its employees and the amount of such coverage limits the company's liability to its clients.
9. Termination: Either party shall have the right to terminate this agreement at any time by giving written notice of the intent to terminate which termination shall become
effective at the close of business on the date specified in said written notice, however, said date shall be the last day of a month. Such notice that terminates services shall
not effect any action taken in reliance on this agreement before the date that termination becomes effective.
10. Entire Agreement and Modification: The terms and conditions set forth herein contain the sole and entire agreement between the Company and the client and supercede
all prior discussions, proposals, quotations, negotiations, representations, and agreements. No modification, waiver, or discharge of any agreement or any of its terms shall
bind the Company, unless in writing and signed by the duly authorized representative to make such modification, waiver or discharge. The Company further reserves the right
to modify any and all of the terms and conditions with written notice with said modification effective the date of submittal of the written notice. Written Notice by either party
shall be deemed to have been delivered if delivered: in-hand, faxes, mailed by registered mail, postage pre-paid, electronic communication or Federal Express to the address
on record.
11. Applicable Law and Severability: These terms and conditions and any act, contract, or transaction to which they shall apply shall be governed by and construed under the
laws of the Commonwealth of Massachusetts of the United States of America and to the extent applicable, the laws of the United States of America, and any dispute arising
out of any act or contract shall be brought into the appropriate Court having jurisdiction within the County of Essex or the County of Suffolk of the Commonwealth of
Massachusetts, USA. Should any paragraph or portion of these terms and conditions be found by a Court of competent jurisdiction to be invalid, the remaining portions and
paragraphs shall remain in full force and effect.
12.Contract Documents: It is understood by the client that in order for the Company to provide services as called for under this agreement, that certain documents and
schedules must be prepared by the Company and executed by the client in a timely fashion, such as, but not limited to, the consent for use and disclosure of financial, banking,
payment and insurance information, authorization for the release of patient health information, privacy practices agreements and the like. Failure by the client to do so shall
be considered a material breach of the agreement between the parties.
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