Management agency agreement
This query is : Resolved
CA skmnair
(Querist)
18 February 2009
A company get into agreement to provide ATM and ATM services to a bank for 5yrs.
now after two yrs bank want to terminate agreement and ready to pay compensation in 45 monthly installmnets. balance period of contract is 36months.. the company receiving compensation from bank need to know how they will account compensation.. whether they need to account full compensation current year or on receipt of compensation by insatllment. they made a agreement to get compensation 45 installments. pls advice
now after two yrs bank want to terminate agreement and ready to pay compensation in 45 monthly installmnets. balance period of contract is 36months.. the company receiving compensation from bank need to know how they will account compensation.. whether they need to account full compensation current year or on receipt of compensation by insatllment. they made a agreement to get compensation 45 installments. pls advice
29 March 2012
The compensation shall be recognised on receipt basis.
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