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This document outlines the terms of engagement between the client and Business China for assistance with the Hong Kong bank account opening process. It details the compliance checks and obligations of both parties, including KYC profile constitution and the steps required to successfully open a bank account. The letter also specifies the services fees and the course of action in case of non-compliance from the client.
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How to fill out letter of engagement

01
Start with your name or your company's name at the top of the letter.
02
Include the date of writing below your name.
03
Write the recipient's name and address beneath the date.
04
Begin the letter with a formal greeting, such as 'Dear [Recipient's Name],'.
05
State the purpose of the letter clearly in the opening paragraph.
06
Outline the scope of work to be performed and any specific terms related to the engagement.
07
Include details about payment terms, including fees and billing schedules.
08
Specify the duration of the engagement—start date and end date if applicable.
09
Mention any additional terms and conditions relevant to the engagement.
10
End with a closing statement, thanking the recipient and offering to discuss further.
11
Sign the letter with your name, title, and contact information.

Who needs letter of engagement?

01
Freelancers providing services to clients.
02
Consultants engaged by organizations.
03
Legal professionals working with clients.
04
Accountants and auditors conducting engagements.
05
Agencies hiring contractors for specific projects.
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A letter of engagement is a formal agreement between a service provider and a client that outlines the terms and conditions of the professional relationship, including the scope of services, fees, and responsibilities.
Typically, service providers such as accountants, lawyers, or consultants are required to file a letter of engagement when they begin a professional relationship with a client.
To fill out a letter of engagement, include details such as the parties involved, the scope of work, fees, timelines, and any terms and conditions. Ensure both parties review and sign the document.
The purpose of a letter of engagement is to establish clear expectations between the provider and the client, ensuring that both parties understand their commitments and responsibilities in the engagement.
The letter should report the names of the parties, a description of the services to be provided, fees and payment terms, timelines, confidentiality clauses, and any other relevant conditions.
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