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Fees & Payment System
Definition Of Terms: 37 main terms - used on this business site
Service Provider (SP) | An individual or entity that provides services to another party | Consultant
Client | End User | Service Receiver (SR) | A person or organization using the services
Collaborator | A person who works jointly on an activity or project
Supplier | Vendor | A person or organization that provides a product or service
Third Party (TP) | A person or group besides the two primarily involved in a situation | An independent valuer
Consulting Service (CS) | A service or work done by one person or group that benefits another; "budget separately for goods and services" | A consulting service in which a CPA develops findings and conclusions and recommendations that are presented to the client for consideration and decision making
PR Service Agreement (PRSA) | An agreement between a service provider and a customer/client or collaborator where the customer/client/collaborator agrees to receive a PR service - under the International Commercial Law
PR Service-Level Agreement (PRSLA) | An agreement helps by putting everything in writing so you (client) have hard-copy proof that your PR partners are meeting your mutual goals and objectives
Confidentiality Agreement (CA) | Non-disclosure Agreement | Confidential Disclosure Agreement | Proprietary Information Agreement | Secrecy Agreement | Non-disparagement Agreement | A legal agreement that binds one or more parties to non-disclosure of confidential information
Service Contract (SC) | An agreement between a company/collaborator and a customer/client, stating what product or service the company will provide, and any arrangements for delivery, payment - under the International Commercial Law
PR Consultation Fee (PRCF) | A payment made to a PR consultant/firm in exchange for PR advice or PR services
PR Commission (PRC) | An amount of money a PR consultant earns in addition to his PR Consultation Fees | An agreed percentage of the total cost/income/project between the PR consultant and the client or the collaborator
Request For Quotation (RFQ) | A request for quote | A business process in which a company or public entity requests a quote from a supplier for the purchase of specific products or services. RFQ generally means the same thing as Call for bids (CFB) and Invitation for bid (IFB). An RFQ typically involves more than the price per item
Invoice | A commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer. | Types of invoices: Standard Invoice - Credit Invoice - Debit Invoice - Mixed Invoice - Commercial Invoice - Timesheet Invoice - Expense Report - Pro Forma Invoice - Interim Invoice - Final Invoice - Past Due Invoice - Recurring Invoice - E-invoice | The Official Invoice (signed by the 2 parties) can be used as an alternative to the service contract/agreement in private service situations where the client does not want to sign a service contract/agreement.
Certified Check/Cheque (CC) | A form of check for which the bank verifies that sufficient funds exist in the account to cover the check, and so certifies, at the time the check is written. Those funds are then set aside in the bank's internal account until the check is cashed or returned by the payee
Advance Payment Guarantee (APG) | A guarantee that advance payments will be returned if the party that received such payments does not perform its part of the contract
Bank Letter Of Guarantee (LG) | A kind of guarantee from a lending organization. The bank guarantee signifies that the lending institution ensures that the liabilities of a debtor are going to be met. In other words, if the debtor fails to perform the obligation, the bank will cover it
Certificate Of Service Guarantee (COSG) | A marketing tool service firms have increasingly been using to reduce consumer risk perceptions, signal quality, differentiate a service offering, and to institutionalize and professionalize their internal management of customer complaint and service recovery
SWIFT | The Society for Worldwide Interbank Financial Telecommunication, legally S.W.I.F.T. SCRL, provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment
Cancellation Request Letter (CRL) | A written document created to express an intention of canceling an event, agreement, subscription or contract
Cancellation Penalty (CP) | A fee/penalty amount to be charged if a service agreement is canceled. The amount can be a flat amount or a percentage
Certificate Of Insurance Coverage (COIC) | The amount of risk, liability or potential loss that is protected by insurance. Insurance Coverage helps individuals and/or entities recover from financial losses
Service Warranty (SW) | A warranty, guaranty, extended warranty or extended guaranty, service contract equal or greater than 1 year in length
Certificate Of Trust (COT) | A legal document that can be used to certify both the existence of a Trust, as well as to prove a Trustee's legal authority to act. It's shorter than the actual Trust document, and it can offer pertinent information without making every aspect of the Trust public
Service Protection Period (SPP) | A protection plan - including various levels of systems management that can be used to achieve standardization of protection services and increase the quality of performance.
Service Failure (SF) | Service performance that fails to meet a customer's expectations. Typically, when a service failure occurs, a customer will expect to be compensated for the inconvenience in the form of any combination of refunds, credits, discounts, or apologies
Service Failure Recovery (SFR) | A process used to "recover" dissatisfied (clients/customers) by identifying and fixing the problem or making amends for the failure in customer service
Business Troubleshooting (BT) | Accomplished by utilizing skills that have been developed over many years of experience with proven results. To correct any business problem requires the ability to identify the problem, determine its cause and develop solutions that eliminate the problem
Certified Public Accountant (CPA) | A title of qualified accountant in numerous countries in the English-speaking world | A trusted financial advisor who helps individuals, businesses, and other organizations plan and reach their financial goals
Attestation Report | Attestation Service | A consulting service in which a CPA expresses a conclusion about the reliability of a written statement that is the responsibility of someone else
Tender/Bid | An offer made in writing by one party to another to execute certain work, supply certain commodities, etc., at a given cost
Single Source (SS) | In terms of business entities, single-sourcing refers to choosing a single supplier even when other options are available in the market
Documentation | Any communicable material that is used to describe, explain or instruct regarding some attributes of an object, system or procedure, such as its parts, assembly, installation, maintenance and use. Documentation can be provided on paper, online, or on digital or analog media
Shipping Document (SD) | A form, record or certificate needed to take delivery of a shipment, or for a delivery to clear customs
Proof Of Identity (POI) | Any document that may be used to prove a person's identity
Power Of Attorney (POA) | Letter Of Attorney | A legal authorization that gives a designated person, termed the agent or attorney-in-fact, the power to act for another person, known as the principal. The agent may be given broad or limited authority to make decisions about the principal's property/finances/investments/medical care
Letter Of Authorization (LOA) | Authorization Letter | Authority Letter | A written confirmation of a person's rank, authority, or ability to enter into a legally binding contract by taking a specific action, spending a specified sum, or delegating his/ her duties and powers. These type of letters cover a wide range of intentions and responsibilities
Important Note: About the PR Service Agreement (PRSA)
1/2 All terms and conditions are mandatory
2/2 Acceptance of all terms and conditions must be confirmed via email
Service Start Date: Friday, Mar. 01, 2019 at 19:00 GMT+8
Service End Date: N/A
Updating Data | Quarterly
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