Contract of Subscription Accounting Services

CONTRACT OF SUBSCRIPTION ACCOUNTING SERVICES

This ______day of ______in the town of Ruse was signed the following agreement by and between:

TSMS OOD, UIC 117590656 represented by Angel Ivanov Porozhanov – Director, with registered office at 8b Midiya Enos St, Ruse, hereinafter referred to as CONTRACTOR

and

______

______

______, hereinafter referred to as BENEFICIARY.

The parties reached the following agreement:

SCOPE

1. The Contractor shall perform accounting services for the BENEFICIARY.

PRICE, PAYMENT AND TERM

2.(1) The price for the performed services is set to the amount of BGN ______(in words: ______leva), excl. VAT per every month of service.

(2) The payment is done after the end of the accounting month, but not later than the tenth day of the next month.

3. This contract is perpetual.

CONTRACTOR’S RIGHTS AND OBLIGATIONS

4. The Contractor shall:

(1) Perform the types and amount of work, stated in the scope of this contract according to the legal regulations.

(2) Not distribute information, which is considered secret and of confidential nature of the Beneficiary or his partners acquired in the course of his commissioned work and its execution.

(3) Makein good faith, thoroughly and impartially the necessary checks and analyses related to the nature of commissioned work.

5. The Contractor has the right to:

(1) Determine the place of service performance.

(2) Require from the Beneficiary all needed accounting and other documents related to work commissioned by this contract.

BENEFICIARY’S RIGHTS AND OBLIGATIONS

6. The Beneficiary has the right to:

(1) Provide the Contractor with all necessary documents within time frame defined in advance by the parties.

(2) Provide the Contractor with all necessary bank and accounting documents as well as others related to the nature of service performance.

(3) Pay the agreed price of the contractual service within time frame stipulated in sec. 2 of this contract.

7. Beneficiary’s rights:

(1) In case of inaccurate and incomplete work commissioned and as a result damages to the Beneficiary have been incurred, the Contractor bears responsibility under sec. 82 in relation to sec. 70 of the Obligations and Contracts law.

(2) To terminate this contract after giving a one-month written notice.

OTHER PROVISIONS

8. In case of non-fulfillment of the provisions of this contract, the Contractor has the right to terminate it as to this end he gives a one-month written notice.

9. The Contractor doesn’t bear responsibility in the cases when the Beneficiary’sincurred damages as a result of documents, which haven’t been provided or haven’t been provided in time to the Contractor.

10. The Contractor doesn’t bear responsibility before the tax authorities,if primary accounting documents with false information are submitted by the Beneficiary.

11. The parties settle disputes related to the application of this contract by reaching an agreement and when it is not possible they shall follow the provisions of the Civil Procedure code.

12. Alldisputes unsettled by this contract shall be resolved by applying the provisions of the Obligations and Contracts law and the effective law regulations for the period of this contract.

This contract is made in two copies – one for each party.

Beneficiary:Contractor:

(______)(A. Porozhanov)