Terms & Conditions

1. Preamble & Contractual Acceptance

These Terms and Conditions (“Terms”) govern the professional relationship between Finovision Business Solutions LLC (“Finovision”, “we”, “our”), registered under Commercial Entity License #1804056 in Sharjah Media City (Shams), UAE, and the client business or individual (“Client”, “you”) retaining our advisory, accounting, or software services.

By executing an Engagement Letter, approving a formal quotation, or utilizing our consulting services, the Client unconditionally agrees to be bound by these Terms.

2. Scope of Corporate Advisory Services

Finovision provides accredited business and accounting solutions tailored to commercial enterprises, free zone entities, holding groups, and hospitality operators, including:

• Bookkeeping & Management Accounts: General ledger maintenance, bank reconciliation, trial balance compilation, monthly financial closes, and executive MIS reports;
• Statutory Audit & Internal Controls: Internal control review, pre-audit preparation, workpaper documentation, and statutory auditor facilitation;
• UAE VAT Compliance: Tax registration, input tax recovery calculations, tax invoice inspections, reverse charge reviews, and quarterly return filings (Form VAT201);
• Corporate Tax Planning: Qualifying Free Zone Person (QFZP) evaluations, transfer pricing documentation, taxable income computations, and registration with the Federal Tax Authority (FTA);
• Cloud ERP & POS Systems Architecture: Implementation, customization, and user onboarding for Zoho Books, Tally Prime, and retail/hospitality billing points of sale.

3. Client Responsibilities & Document Accuracy

To enable accurate, timely performance of professional services, the Client covenants and undertakes to:

• Provide complete, authentic, legible, and legally valid vouchers, invoices, bank statements, contracts, and payroll records in a timely manner;
• Ensure that all commercial transactions reflected in financial records accurately represent genuine commercial operations conducted by authorized entities;
• Designate an authorized corporate liaison empowered to approve journal entries, financial statements, and statutory tax filings;
• Inform Finovision promptly of material corporate structural changes, trade license amendments, bank account alterations, or tax registration updates.

4. Professional Scope Boundaries & Auditor Role

While our senior advisory personnel hold credentials including the Certified Public Accountant (CPA, Alaska, USA) and GCC VAT Compliance Diploma (PwC / ATT), Client acknowledges that:

• Finovision acts in an independent corporate advisory, accounting consultancy, and internal review capacity;
• Where statutory external audit reports with ministry sign-off are required by specific UAE licensing jurisdictions or banking institutions, such statutory reports are rendered through accredited licensed audit partners in accordance with Federal Decree-Law No. 14 of 2023;
• Finovision does not guarantee the commercial profitability or financial success of Client enterprises, but commits to executing services with customary professional diligence, skill, and integrity.

5. Tax & Regulatory Authority Submissions

Regarding Value Added Tax (VAT), Corporate Tax, and official submissions to the Federal Tax Authority (FTA) or Ministry of Economy:

• The Client retains ultimate legal responsibility under UAE tax law for the veracity, completeness, and timeliness of declarations submitted under their Tax Registration Number (TRN);
• Finovision cannot be held liable for FTA administrative penalties, tax assessments, or late fees resulting from Client delays, withheld transaction records, or false documentation;
• Client must provide tax documentation at least ten (10) business days prior to statutory filing deadlines to allow thorough compliance review and prevent deadline compromises.

6. Fee Schedules, Retainers & Invoicing Terms

All professional fees are established in specific client Engagement Letters or proposals:

• Retainer & Billing Terms: Monthly or quarterly retainers are invoiced in advance and payable within fourteen (14) days from the invoice issuance date;
• VAT Surcharge: In accordance with UAE VAT Law, all professional fees are subject to 5% Value Added Tax where applicable, reflected as a distinct line item on tax invoices;
• Right of Suspension: If an invoice remains unpaid past thirty (30) days from due date, Finovision reserves the right to suspend filing activities, document releases, and active advisory without liability for resulting statutory filing delays.

7. Nondisclosure, Workpapers & Proprietary Rights

Both parties mutually commit to strict professional confidentiality:

• Finovision maintains client books, bank transactions, and commercial arrangements in strict secrecy, never divulging records to unauthorized third parties without written authorization;
• All accounting working papers, analytical spreadsheets, compliance checklists, and proprietary methodologies generated by Finovision remain our intellectual property;
• Client retains sole ownership of raw primary documents, source invoices, and underlying business books.

8. Limitation of Liability & Indemnification

To the maximum extent permitted under United Arab Emirates law:

• Finovision’s aggregate financial liability arising out of or in connection with any advisory engagement, whether in contract, tort, or statutory duty, is strictly capped at the total professional advisory fees received from the Client under the relevant Engagement Letter during the three (3) months preceding the incident;
• In no event shall Finovision be liable for indirect, incidental, consequential, punitive, or loss-of-profit damages;
• Client agrees to indemnify and hold harmless Finovision, its partners, and advisors from third-party claims, penalties, or regulatory actions caused by Client negligence, fraud, or misrepresentation.

9. Anti-Money Laundering (AML) & Regulatory Compliance

In adherence to UAE Federal Decree-Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT):

• Finovision conducts mandatory Know Your Customer (KYC) screening prior to executing professional services;
• Finovision reserves the right to decline or terminate engagements immediately if client activities raise unaddressed AML/CFT compliance flags or violate UAE statutory trade prohibitions.

10. Term, Notice & Orderly Handover

Ongoing accounting retainers may be terminated by either party upon thirty (30) days written notice:

• Upon termination, Client shall settle all outstanding professional fees accrued through the termination date;
• Upon full fee settlement, Finovision will deliver all reconciled trial balances, general ledger exports, and original primary documents to Client or designated successor accountants to ensure business continuity.

11. Governing Law & Dispute Resolution

These Terms, Engagement Letters, and any disputes arising therefrom shall be governed by, interpreted, and construed in accordance with the laws of the Emirate of Sharjah and the federal laws of the United Arab Emirates.

Any dispute, controversy, or claim arising out of or relating to these Terms shall first be addressed through good-faith executive negotiation. If unresolved within thirty (30) days, the dispute shall be subject to the exclusive jurisdiction of the competent Courts of Sharjah, UAE.

12. Official Legal Inquiries & Notices

Formal legal notices, contract inquiries, or engagement amendments must be submitted in writing to our registered corporate office: