Terms of Service
Updated: July 20,2021
We appreciate your decision to retain World Class Business Advisory as your business advisor. Our initial engagement is limited to the matter(s) identified in the engagement letter that accompanies this attachment. The following summarizes our billing practices and certain other terms that will apply to our initial and any future engagement.
We bill monthly throughout the engagement for each particular matter and our statements are due upon receipt. If we are performing services for more than one person, each person we are performing services for is jointly and severally responsible for our charges for that matter. Our statements contain a concise summary of charges for each service for which we render services and charge a fee.
2.Retainers and Estimates
In establishing fees for the services we render, we consider primarily the time and labor required, but also other factors including: the novelty and difficulty of the services involved, the skill required to perform the particular assignment, time – saving use of resources (including research, analysis, data and documents) which we have previously developed and retained in quickly retrievable form: the fee customarily charged by comparable firms for similar services; the amount of money involved or at risk and the result obtained; and time constraints imposed by either the client or the circumstances. In some matters, the fees may not reflect actual time utilized or may reflect minimum unit charges. The firm generally requires a retainer in an amount which is appropriate with respect to the services.
3.Billing Inquiries and Formats.
We invite you to discuss freely with us any questions you have about our fees. We want you to be satisfied with both the quality of our services and the reasonableness of the fees we charge. We will attempt to provide as much billing information as you reasonably require.
4.Forms of Payment.
In an effort to better serve our clients, World Class business Advisory does accept credit card payment of service fees. In an effort to keep our costs down to all clients, you will be billed on your next bill any and all banking and service charges caused by your credit card payment. Currently our credit processor charges 2.9% for invoiced cards, plus $0.25 per invoiced transaction and 3.4% + $0.25 per keyed, charges by phone, or separate written authorization.
5.Delegation and Periodic Rae Changes.
We assign to each consultant an hourly rate based on that consultant’s ability, experience, and reputation. When we select particular consultants to perform services for a client, we generally seek to assign those with the lowest hourly rates consistent with skills, time demands, and other factors influencing the professional responsibility required for each matter. Of course, our internal allocation of rates for consultant time changes periodically to account for increases in our cost of
delivering business services, other economic factors, and the augmentation of a particular consultant’s ability, experience, and reputation.
In addition to service fees, our statements may include out-of- pocket costs that we have advanced on your behalf and other charges incurred (which may exceed direct costs) for certain support activities. Advanced costs generally will include such items as travel expense, postage, overnight courier service, document management and fees for filing, recording, certification, and registration charged by governmental bodies. Our internal charges typically include such items as computer research and other online service charges, staff overtime, and photocopying material sent to the client or third parties or required for our use. Unless otherwise specifically agreed, you agree to pay us for these other charges.
It may be appropriate or necessary to hire third parties to provide services regarding your matters, including consulting or other experts, investigators, computer support providers, mediators or consumer reporting agencies. Because these third parties hold the consultants directly responsible for payment of fees, in certain situations our firm may assume responsibility for retaining the appropriate service providers. Even if we do so, however, you will be responsible for paying all fees and expenses directly to the service providers or reimbursing us for these other charges.
If our monthly statements are not paid within 90 days after they are rendered, we reserve the right to discontinue services until the account is brought to current status. Any account remaining unpaid for more than 30 days will bear interest at 8% per month until paid. We will also be entitled to reasonable attorney fees and costs incurred in collection if it becomes necessary for us to institute legal proceedings to collect the account. Nonpayment of the account will be deemed an acknowledgement by you that we have the right to suspend our services, and you agree not to contest any such suspension
9.Scope of Our Duties.
We will provide the business services generally described in the engagement letter accompanying this document. You will cooperate with us and provide us with the factual information and materials we require to perform those and will make such business or technical decisions and determinations as are appropriate.
You are not relying on us for business, investment, or accounting decisions, or to investigate the character of credit of persons with whom you may be dealing, unless otherwise specified in the letter.
We will keep you advised of developments as necessary to perform our services and will consult with you as necessary to ensure the timely, effective, and efficient completion of our work. Of course, no one can guarantee the outcome Any comments we may make concerning a possible outcome are only expressions of opinion and are not guarantees.
World Class Business Advisory has set rules and principles of ethics that govern our professional services and our relations: several points deserve emphasis.
As a matter of professional responsibility, we are required to preserve the confidence and secrets of our clients. This obligation and privilege exist to allow and encourage candid and complete communication between a client and its consultant. You must be proactively candid with us. We cannot perform beneficial services for a client if we are not aware of all information that might be relevant to our services. We trust that our consultant-client relationship with you will be based on mutual confidence and unrestrained communication allowing us to render services to you properly.
In instances in which we perform services for a corporation or similar legal entity, please be aware that our client relationship is with the entity and not with its individual executives, shareholders, directors, members, partners, or persons in similar positions. Of course, we can also perform services for individual executives, shareholders, partners, and other persons related to the entity in matters that do not conflict with the interest of the entity.
Because of the size of our firm, our consultants may be (and often are) asked to perform services whose interests are adverse to those of another client we perform services for, but in connection with another matter. Just as you would not wish to be prohibited, in an appropriate situation, from retaining a consulting firm that competes with ours, our firm wishes to be able to consider providing services to multiple competitors in your industry, or to other clients who may have interest potentially adverse to yours, but with respect to matters that are unrelated in any way to our services performed for you.
During the term of this engagement, our primary obligation and goal is to meet the business needs of you, our valued client.
Consequently, we agree that we will not perform services for another client that are directly adverse to your interests.
Generally, this will mean (i) there is no substantial relationship between any matter in which we are performing services or have performed services for you and the matter for the other client.;
(ii) our services performed for the other client will not implicate any confidential information we have received from you; (iii) our effective performance of services and the discharge of our services for you will not be hampered by our performance of services for the other client.
By making this agreement, we are establishing the criteria that will govern the exercise of your right under our applicable ethical rules to withhold consent to our performance of services of another client whose interests is adverse to yours.
11.Use of Client Name in Firm Materials
From time to time, we are asked to provide a list of representative clients to various persons or publication. We also include such lists in brochures and other material about our firm. Your payment of the attached invoice indicates your consent for our firm to list your name and utilize your company logo in such materials.
12.Termination of Service
Upon completion of the matter to which the services apply, or upon earlier termination of our relationship, the consultant – client relationship will end unless you and we have expressly agreed to a continuation with respect to other matter. We hope, of course that such a continuation will be the case.
The services are terminable at will by either party subject to the payment of all fees and costs. In the event that you do not terminate by sending notice to World Class Business Advisory, you will continue to be responsible for all fees and costs incurred. You may cancel your services by sending certifies USPS mail to:
World Class Business Advisory
10200 Forrest Green Blvd. Suite 112
Louisville, KY 40223
Your agreement to this engagement constitutes your acceptance of the foregoing terms and conditions. If any of them is unacceptable to you, please advise us now so that we can resolve any differences to proceed with a clear, complete and consistent understanding of our relationship.
Any dispute or claim relating in any way to your use of any World Class Business Advisory Service will be adjudicated in the Commonwealth or Federal courts in Jefferson County, Kentucky, and you consent to exclusive jurisdiction and venue in these courts. We each waive any right to a jury trial.
By using any World Class Business Advisory Service, you agree that applicable federal law, and the laws of the Commonwealth of Kentucky, without regard to principles of conflict of laws, will govern these Terms of Service and any dispute of any sort that might arise between you and World Class Business Advisory.
15.POLICIES, MODIFICATION, AND SEVERABILITY