These Terms and Conditions, together with the proposal or quote for services (the Proposal), constitute the entire agreement between the Parties for the provision of the Contracted Services. OVAR Accounting Solutions (the Firm) declares that it is a legal entity duly incorporated under current civil law, with its registered office in Ciudad Juárez, Chihuahua, C.P. 32370, and Federal Taxpayer Registry number SCO2307113B7. The Firm also declares that it possesses the knowledge, experience, personnel, and structure necessary to provide the requested professional services. Its contact information is: email info@ovar.com.mx.

The firm agrees to provide its professional and independent services to the Client, consisting of the proposal or quote for services rendered, under the terms and conditions specified herein.

The firm agrees to make available to the Client all its knowledge and equipment necessary for the fulfillment of the contracted service. Services not listed in the proposal or quote for services rendered will be subject to an additional cost. Additional work will be detailed and agreed upon by both parties.

In the event of any discrepancy between the terms and conditions and the proposal, it is expressly agreed that the terms described in the proposal will prevail. Therefore, any modification, addition, or specification contained in the proposal will take precedence over the provisions of this agreement.

The firm will assume responsibility for paying fines, penalties, and surcharges arising from omissions and/or delays, as well as for addressing and resolving any issues when it is determined that the responsibility lies with the firm.

It is important to note that, in its capacity as Employer and Taxpayer, the Client assumes certain responsibilities, the fulfillment of which is essential for the proper and timely provision of the services covered by this contract.

These responsibilities include, but are not limited to, the following:

Providing the Service Provider with information regarding employee incidents, hires, and terminations at least one (1) business day prior to the requested delivery or processing date. a) To request the hiring of an employee, the Client must send, at a minimum, the following information:
• Tax Status Certificate.

• Social Security Number (SSN) registration.

• Hiring date.

• Integrated daily wage or base salary, as applicable.

b) To request the termination of an employee, the Client must provide the effective date and the reason for termination.

Provide, when applicable, the bank statement or transaction history for the immediately preceding month, no later than the 5th (fifth) of each month, in order to perform the bank reconciliation and corresponding accounting entry in a timely manner.

In the case of sales to the general public, the Client is obligated to provide the Service Provider with the corresponding sales information at the close of each month, no later than 24 (twenty-four) hours after the end of the monthly period, since this period constitutes the maximum limit allowed for the issuance and stamping of the global invoice, in accordance with current tax regulations.

Likewise, in the case of individuals, with the exception of those taxed under the Simplified Trust Regime (RESICO), as well as legal entities, sales must be submitted with each transaction numbered clearly and verifiably.

Maintain fluid, clear and timely communication with the Service Provider team, in order to address any clarification, adjustment or requirement necessary for the correct bank reconciliation, payroll administration and compliance with tax and labor obligations.

Upon acceptance of the proposal, payment must be made no later than five days after acceptance or according to the terms of the proposal.

For services provided on a retainer basis, payments starting the following month must be made within the first ten days of each month. This payment does not obligate the client to fulfill any obligations outside the contract period.

The monthly fee is subject to review should the original workload increase. The client may also request a reduction should the original workload decrease.

This financial agreement will remain in effect for the year in which the service begins.

The obligations acquired by the client after the preparation of the proposal or during the validity of the service will be evaluated to update the firm's fees.

If the Client fails to make the agreed-upon payments within the timeframes established in the Payment Clause, a grace period of up to two (2) calendar months will be granted, starting from the due date of the obligation. During this period, the Client may bring the account current without incurring late payment interest.

Beginning with the third consecutive month of non-payment, overdue amounts will accrue late payment interest, calculated solely on the overdue and subsequent monthly installments, at a fixed monthly interest rate not to exceed three percent (3%) per month. This rate will be applied for each month or fraction thereof that the debt remains outstanding, until full payment is received.

Additionally, the Client agrees to pay a fixed monthly administrative and collection fee of $250.00 (two hundred fifty pesos 00/100 M.N.), which will accrue for each month the debt remains outstanding.

The application of default interest and collection expenses will be required without prior notice, without prejudice to the main payment obligation and any other right that corresponds to the Service Provider under this contract.

During the month of January each year, the monthly fee for accounting and administrative services will increase by a percentage equivalent to the annual inflation rate published by INEGI, plus two percentage points. The resulting adjustment will be applied automatically starting in February of the same year.

By bank transfer or deposit to the following account:

BBVA Bank. Account number 0120918903. Interbank code 012164001209189037. For deposits at convenience stores, you must request a payment line from your sales representative. Card payments on the Senhub website will be processed through the OpenPay payment gateway, or you can request direct debit via the Stripe payment gateway.

The personal data you provide will be protected in accordance with the Federal Law on the Protection of Personal Data Held by Private Parties and its Regulations. The corresponding Privacy Notice is available for your review at https://www.ovar.com.mx/avisodeprivacidad.

The services may be terminated at any time by the parties, upon prior written notice given at least thirty calendar days in advance of the desired termination date.

This involves preparing the working papers and submitting the declarations and acknowledgments for the obligations listed in the service provision proposal or quotation.

It consists of preparing the Income Statement, Trial Balance and Balance Sheet for each month, as well as ensuring the accuracy of the accounting process by detecting and correcting possible omissions or errors in the operation, verifying balances and their correct origin and reconciliation.

The goal is to ensure that all financial transactions recorded in the company's books match those reflected in the bank statement, identifying and resolving any discrepancies. The client agrees to receive the bank statement no later than the 5th of each month.

The employer must submit the Employer Registration Notice to the Mexican Social Security Institute (IMSS), Employer Identification Card, State Employer Registration, and access to the IDSE, SIPARE, and INFONAVIT Employers systems. The processing of these documents is not included and requires a separate quote.

Payroll preparation and calculation, which includes:

• Employee roster: Number of employees as proposed.

• Record of incidents: new hires, terminations, salary changes, absences, vacations, leaves of absence, disability, overtime, holidays worked, pay stubs, basic employment contracts, simulated severance payments, salary increases, new hires, and taxes.

• Calculation of severance payments.

• Standard 7-day work week with additional compensation such as punctuality, attendance, and excellence bonuses, Sunday premium, bonuses, overtime, savings fund, and other benefits.

• •Included deductions: Income Tax (ISR), Social Security (IMSS), Infonavit (withholding tax statement required), annual income tax adjustment, and savings fund contributions.

Preparation of individual employment contracts (template without modifications).

Payroll and pay stubs sent via email.

Payroll disbursement management through the client-provided provider.

Additional cost of 250 pesos per employee.

Extraordinary payroll, Christmas bonus, and profit sharing.

Annual self-assessment of DAPSUA risk premium in February of each year.

Labor law services are not included; however, recommendations on labor-related matters can be provided to minimize risks, based on experience and personal knowledge, without obligating the firm in any way.

This process involves reviewing and comparing your internal payroll and contribution records with the records and declarations submitted to the Mexican Social Security Institute (IMSS). The goal is to ensure that all employer and employee contributions are correctly calculated, declared, and paid, complying with legal obligations and avoiding penalties for discrepancies.

The Construction Works Registry will be created based on the receipt of contracts. This system aims to register and monitor construction projects carried out in the country, as well as ensure compliance with labor and safety regulations in the construction sector.

The client is obligated to provide the firm with complete information on each project, as well as copies of the contracts signed with their clients, so that the corresponding registration with SIROC can be carried out promptly.

Registration of contracts entered into for each four-month period of the year, no later than the 17th or the next business day of May, September, and January, with the Mexican Social Security Institute (IMSS) and the National Housing Fund Institute (INFONAVIT).

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1-Information Report on Specialized Services or Works Contracts (ICSOE)

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2-Subcontracting Information System (SISUB)

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The client agrees to provide the firm with copies of all contracts entered into and the information necessary for the timely filing of the information reports, within the deadlines established by the authorities.

To efficiently and accurately manage and control the company's payments to its suppliers and creditors. This department is responsible for verifying and processing invoices, ensuring that payments are made within the established deadlines, and maintaining a detailed record of all financial transactions related to accounts payable.

Furthermore, it seeks to optimize cash flow, avoid duplicate or erroneous payments, and maintain good relationships with suppliers by fulfilling the company's financial obligations.

Accounts Payable Activities

Invoice Reception and Verification:

• Receive invoices from suppliers.

• Verify that invoices comply with legal and contractual requirements.

• Confirm that goods or services have been received under the agreed-upon conditions.

Payment Approval:

• Obtain the necessary internal approval to make the payment.

• Review and reconcile discrepancies between invoices and purchase orders.

Payment Scheduling:
• Plan and schedule payments according to the terms agreed upon with suppliers.

• Prioritize payments to take advantage of early payment discounts or avoid late payment fees.

Payment Issuance:
• Process payments via electronic transfers or online payments.

• Ensure payments are made on the agreed-upon date.

Account Reconciliation:
• Reconcile accounts payable with supplier statements.

• Resolve discrepancies and manage claims or disputes.

Record Keeping:
• File invoices and payment receipts.

• Maintain accurate records of all accounts payable transactions.

Supplier Communication:
• Communicate with suppliers to confirm payments, negotiate terms, or resolve billing issues.

• Maintain positive relationships with suppliers.

Report Preparation:
• Prepare reports on the status of accounts payable, including balances and due dates. • Provide relevant financial information to management.

Tax and Regulatory Compliance:

• Ensure payments comply with tax and legal regulations.

• Withhold taxes or make deductions when necessary.

Cash Flow Management:

• Monitor and forecast cash flow needs related to accounts payable.

• Collaborate with the treasury department to manage payments efficiently.

This requires the client to provide online banking access for the execution of commitments, or, if applicable, a daily report of banking transactions for the bank manager to execute.

Manage and optimize the collection process for credit sales made by the company, ensuring that payments are received promptly and efficiently. This department aims to minimize outstanding accounts and reduce the collection period, contributing to a healthy cash flow for the company. Furthermore, it works to reduce the risk of bad debts and maintain positive customer relationships through clear communication and proper credit management.

1. Invoice Issuance:
• Generate and send invoices to clients for goods or services provided.

• Ensure invoices are accurate and comply with the terms of the contract or agreement.

2. Payment Tracking:
• Monitor outstanding accounts receivable and track payment status.

• Make calls or send reminders to clients to ensure timely payment.

3. Account Reconciliation:
• Reconcile accounts receivable with client statements.

• Resolve discrepancies and manage claims or disputes with clients.

4. Report Preparation:
• Prepare reports on the status of accounts receivable, including balances, due dates, and delinquency rates.

• Provide relevant financial information to management and other departments.

5-Customer Relationship Management:

•Maintain clear and professional communication with customers to resolve billing or payment issues.

• Work closely with the sales department to align collection strategies with customer expectations.

6-Tax and Regulatory Compliance:

• Ensure that collection operations comply with tax and legal regulations.

• Issue and deliver tax receipts according to applicable regulations.

7-Cash Flow Management:

• Monitor and forecast cash inflows related to accounts receivable.

• Collaborate with the treasury department to ensure adequate cash flow.

Optimize inventory management to ensure processes are carried out efficiently and in accordance with industry best practices. We focus on designing and implementing strategies that allow our clients to maintain optimal inventory levels, reduce associated costs, and improve the accuracy of inventory recording and control. Through an analytical and proactive approach, our goal is to support companies in the effective management of their inventory, ensuring that administrative procedures are robust, reliable, and aligned with the organization's strategic objectives.

Inventory Consulting Service Activities

Inventory Process Assessment:

• Review current inventory management procedures to identify areas for improvement.

• Evaluate the efficiency of administrative processes related to inventory management.

Inventory Strategy Design:

• Develop strategies to maintain optimal inventory levels and minimize associated costs.

• Propose systems and methods to improve the accuracy of inventory recording and control.

Implementation of Management Systems:
Advise on the selection and implementation of appropriate inventory management systems.
Configure procedures for integrating these systems with the company's daily operations.

Development of Control Policies:
•Establish policies and procedures for inventory control, including loss prevention and the management of obsolete products.

•Implement mechanisms for detecting and correcting discrepancies in inventory records.

Monitoring and Evaluation:
•Supervise the performance of inventory processes to ensure their effectiveness.

•Conduct periodic analyses and audits to identify and address any deviations from established policies.

Returns Management Consulting:
•Provide guidelines for the efficient management of returns and inventory adjustments.

•Advise on coordinating with suppliers for the proper handling of returned products.

Inventory Performance Analysis:

• Evaluate inventory performance using key metrics, such as turnover and storage costs.

• Provide recommendations to improve the efficiency and profitability of inventory management.

Regulatory Compliance and Continuous Improvement:

• Ensure that inventory management processes comply with current regulations and standards.

These consulting services are designed to support companies in the administrative management of inventory, ensuring that their procedures are effective and aligned with their strategic objectives.

Software investment and training expenses are not included in the service.

The client requires on-site personnel for inventory operation, receiving, and data entry.

The annual declaration entails an additional cost of 50% of the monthly retainer as long as the business relationship has not ended.

For the issuance of invoices to individual clients, it is necessary to provide the recipient's tax identification (or failing that, the client's: Name or Company Name, RFC, tax regime and postal code), payment method and sales receipt (or, if applicable, price and description of the product or service) by the means agreed upon by the parties.

The financial and tax advisory service includes a one-hour meeting each month (additional hours of consultation are charged separately). Calls and emails with questions are considered consulting services, not advisory services, and are not limited to these. Our advisory commitment includes addressing any questions or concerns you may have regarding the Mexican Tax Administration Service (SAT) and other institutions involved in your company's tax operations, as well as any other requirements you may have. Our firm does not cover the resolution of requirements that are outside our responsibility or due to omissions or errors on the part of the client.