C:\DOCUMENTS AND SETTINGS\EHERNANDEZ\LOCAL SETTINGS\TEMPORARY INTERNET FILES\CONTENT.OUTLOOK\2PMHCUH6\FINANCIAL AGREEMENT - REVISED
FINANCIAL SERVICES AGREEMENT
THIS AGREEMENT (Agreement) is entered into on this day of 20
a California Corporation
Association hereby appoints Agent, and Agent hereby accepts appointment, on the terms and conditions
set forth in this Agreement.
ROLE OF AGENT
Agent shall assist the Board of Directors by providing financial services to the Association and
those persons who are members of the Association as an independent contractor. The
membership of the Association consists of units or lots. All services shall be performed
by Agent based upon standards prevailing in the industry.
RESPONSIBILITIES OF THE AGENT
Accounting services will include the following:
1. Assisting the Board of Directors in the preparation of an Annual Budget for the
approval of the Directors at least 60 days prior to the end of the fiscal accounting
2. Preparation and distribution of a Balance Sheet, Statement of Cash Receipts and
Disbursements, Check Register, Delinquency Report and Bank Reconciliation to all
Directors each month.
3. Payment of all bills authorized to be paid by the Board of Directors.
4. Mailing monthly invoices for assessments including any late charges or special
5. Distributing to all members the Annual Financial Reports.
6. Preparing and mailing delinquency notices, in accordance with the Association’s
7. Recording liens in accordance with the Association’s collection policy and working
with legal counsel when necessary to assist in collections. Agent does not guarantee
the collection of accounts receivable, but agrees to use its