Terms of Service

1. Acceptance of Terms

By accessing or using the BrokerLedger website at brokerledger.ca ("the Website"), or by engaging BrokerLedger for bookkeeping, accounting, or related services ("the Services"), you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, you must not use the Website or engage our Services.

These Terms apply to all visitors, users, and clients. We reserve the right to update these Terms at any time. Continued use of the Website or Services after any changes constitutes acceptance of the revised Terms.

2. Description of Services

BrokerLedger provides outsourced bookkeeping, accounting, and advisory services exclusively to Canadian insurance brokerages. The Services may include:

• Monthly brokerage bookkeeping, bank, and credit card reconciliation
• Premium trust account reconciliation and trust position monitoring
• Carrier and insurer statement reconciliation (agency bill versus direct bill)
• Commission income and producer/sub-broker compensation accounting
• Owner reporting package (month-end close, financial reporting for principals)
• Year-end working-paper preparation for handoff to your external accountant
• Payroll, T4/T4A, and GST/HST filing
• Applied Epic accounting support, setup, and optimization

The specific services provided to any client are governed by a separate engagement agreement entered into between BrokerLedger and the client. These Terms apply in addition to any such engagement agreement.

3. Independence and Scope of Practice

Additional limitations:

• We do not provide tax advice or prepare corporate income tax (T2) returns. Tax positions, T2 preparation, and tax planning should be handled by your external accountant or tax counsel.
• We do not provide legal advice. Information about brokerage regulation, premium trust handling, or your obligations to your provincial regulator (such as RIBO, the Insurance Council of BC, the Alberta Insurance Council, or the AMF) is general in nature and should be confirmed with a qualified Canadian lawyer; specific obligations vary by regulator and your trust position.
• We do not provide insurance, licensing, or investment advisory services.
• Applied Epic and Applied Systems are trademarks of Applied Systems, Inc. BrokerLedger is independent and is not affiliated with, certified by, or endorsed by Applied Systems, Inc.

4. Client Responsibilities

Clients engaging BrokerLedger agree to:

• Provide complete, accurate, and timely information required to perform the Services.
• Review all financial statements, returns, and reports before submission to the CRA, Revenu Québec, your insurance regulator, or any other authority and confirm their accuracy.
• Maintain their own copies of all financial records as required by CRA record-retention rules (generally six years from the end of the relevant fiscal period).
• Notify us promptly of any changes to their brokerage licensing, ownership structure, carrier appointments, or premium trust arrangements.
• Pay all fees as outlined in the engagement agreement on time.

BrokerLedger's ability to perform the Services accurately depends on the completeness and accuracy of information provided by clients. We are not responsible for errors or omissions in our work that result from incomplete or inaccurate information.

5. Fees and Payment

Fees for the Services are as set out in the applicable engagement agreement. Tier inclusions are published at brokerledger.ca/pricing; specific pricing is confirmed during the discovery call and engagement letter. Fees are billed monthly in advance and are due upon receipt of invoice. We reserve the right to suspend Services for accounts that are more than 30 days past due. All fees are in Canadian dollars and do not include applicable GST/HST or QST, which will be added where required by law.

6. Intellectual Property

All content on the Website, including text, graphics, logos, and page layouts, is the property of BrokerLedger and is protected by applicable Canadian copyright law. You may not reproduce, distribute, or create derivative works from any Website content without our prior written consent. Financial reports and work product we prepare for you as a client remain your property once fees are paid in full.

7. Limitation of Liability

To the maximum extent permitted by applicable law:

• BrokerLedger's total liability to you for any claim arising out of or related to the Services or these Terms shall not exceed the total fees paid by you to BrokerLedger in the three months preceding the event giving rise to the claim.
• BrokerLedger shall not be liable for any indirect, incidental, consequential, special, or punitive damages, including but not limited to lost commissions, business interruption, or loss of carrier appointments, even if we have been advised of the possibility of such damages.
• We are not liable for errors resulting from inaccurate or incomplete information provided by you, for CRA assessments, penalties, or interest arising from your filing history prior to our engagement, or for decisions you make based on our informational guidance without obtaining independent professional advice.

8. Termination

Either party may terminate an ongoing service engagement with 30 days written notice. We reserve the right to terminate a client engagement immediately for non-payment of fees, misrepresentation of material facts, or conduct that we reasonably determine is harmful to our ability to perform the Services. Upon termination, all fees for work performed up to the termination date become immediately due and payable, and we will return all client records in a reasonable, documented format.

9. Confidentiality

We treat all client financial and policyholder information as strictly confidential. We will not disclose your confidential information to any third party without your consent, except as required by law (including court order, CRA request, insurance regulator request, or other regulatory requirement) or as necessary to perform the Services using authorized third-party software providers. Our confidentiality obligations survive termination of any engagement.

10. Governing Law and Jurisdiction

These Terms and any dispute arising out of or related to the Website, the Services, or any engagement with BrokerLedger shall be governed by and construed in accordance with the laws of the Province in which BrokerLedger is registered (to be confirmed in the engagement letter) and the applicable federal laws of Canada. Any legal proceedings shall be commenced in the courts of that Province, and you irrevocably consent to the exclusive jurisdiction of those courts.

11. Entire Agreement

These Terms, together with any applicable engagement agreement and our Privacy Policy, constitute the entire agreement between you and BrokerLedger with respect to your use of the Website and the Services. They supersede all prior and contemporaneous agreements, representations, and understandings.

12. Contact

If you have any questions about these Terms, please contact us: