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Indirect Cost Agreement

Indirect Cost Agreement Template for Belgium

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Key Requirements PROMPT example:

Indirect Cost Agreement

"Need an Indirect Cost Agreement for our new Belgian shared services center that will serve five European subsidiaries, to be effective from March 1, 2025, with particular focus on IT and HR cost allocation methodologies and compliance with EU cross-border regulations."

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Document background
The Indirect Cost Agreement is essential for organizations operating in Belgium that need to establish a formal framework for sharing and allocating indirect costs between multiple entities. This document is particularly relevant for corporate groups, shared service centers, or joint ventures where common costs need to be distributed fairly and transparently. The agreement must comply with Belgian corporate law, tax regulations, and EU directives, particularly regarding transfer pricing and related party transactions. It typically includes detailed methodologies for cost identification, allocation keys, calculation procedures, and reporting requirements. This type of agreement is crucial for ensuring cost efficiency, maintaining regulatory compliance, and providing clear documentation for tax and audit purposes.
Suggested Sections

1. Parties: Identification of the parties entering into the agreement, including full legal names, registration details, and addresses

2. Background: Context of the agreement, relationship between parties, and purpose of the cost-sharing arrangement

3. Definitions: Detailed definitions of key terms, including 'Indirect Costs', 'Cost Pool', 'Allocation Keys', 'Beneficiary', and other relevant terms

4. Scope of Agreement: Details of what costs are covered and excluded from the agreement

5. Cost Pool Definition: Specification of which indirect costs are included in the cost pool for allocation

6. Allocation Methodology: Detailed explanation of how costs will be allocated between parties, including allocation keys and calculation methods

7. Calculation and Payment: Procedures for calculating cost shares, timing of payments, and payment methods

8. Recording and Documentation: Requirements for maintaining records, supporting documentation, and audit trails

9. Reporting Requirements: Specifications for periodic reporting, including format, frequency, and content

10. Audit Rights: Provisions for auditing cost calculations and supporting documentation

11. Term and Termination: Duration of the agreement and conditions for termination

12. Governing Law and Jurisdiction: Specification of Belgian law as governing law and jurisdiction for disputes

Optional Sections

1. Transfer Pricing Compliance: Required when agreement is between related entities, ensuring compliance with transfer pricing regulations

2. VAT Treatment: Include when cost allocation may have VAT implications between parties

3. Industry-Specific Requirements: Include when specific industry regulations affect cost allocation methodology

4. Multiple Jurisdiction Provisions: Required when parties are in different jurisdictions, addressing cross-border implications

5. Change Control Process: Include when frequent updates to allocation methodology or cost pools are anticipated

6. Service Level Requirements: Include when cost allocation is linked to specific service levels or performance metrics

Suggested Schedules

1. Schedule 1 - Cost Categories: Detailed listing and description of all indirect cost categories included in the cost pool

2. Schedule 2 - Allocation Keys: Detailed specification of allocation keys for different cost categories

3. Schedule 3 - Calculation Methodology: Step-by-step explanation of cost allocation calculations with examples

4. Schedule 4 - Reporting Templates: Standard templates for periodic cost allocation reports

5. Schedule 5 - Documentation Requirements: Detailed requirements for supporting documentation and record-keeping

6. Appendix A - Contact Details: List of key contacts and their roles in managing the cost allocation process

7. Appendix B - Timeline and Key Dates: Calendar of key dates for calculations, reporting, and payments

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Allocation Key
Allocation Period
Beneficiary
Business Day
Cost Pool
Cost Center
Direct Costs
Effective Date
Financial Year
Group
Indirect Costs
Mark-up
Participating Entity
Provider
Recipient
Related Party
Service Provider
Shared Services
Supporting Documentation
Term
Transfer Pricing
VAT
Working Day
Calculation Method
Cost Category
Distribution Key
Excluded Costs
Overhead Costs
Payment Date
Quarterly Statement
Reporting Period
Service Level
True-up Adjustment
Clauses
Interpretation
Duration and Term
Cost Pool Definition
Allocation Methodology
Calculation Methods
Payment Terms
Reporting Obligations
Record Keeping
Audit Rights
Confidentiality
Data Protection
Force Majeure
Representations and Warranties
Indemnification
Liability Limitation
Dispute Resolution
Governing Law
Amendment and Variation
Termination
Notices
Assignment
Severability
Entire Agreement
Third Party Rights
Compliance with Laws
Tax Compliance
VAT Treatment
Transfer Pricing
Anti-Corruption
Service Levels
Change Control
Documentation Requirements
Relevant Industries

Manufacturing

Financial Services

Professional Services

Technology

Healthcare

Telecommunications

Energy

Consumer Goods

Logistics

Chemical Industry

Pharmaceutical

Automotive

Relevant Teams

Finance

Legal

Tax

Accounting

Compliance

Operations

Treasury

Shared Services

Corporate Development

Internal Audit

Business Control

Financial Planning & Analysis

Relevant Roles

Chief Financial Officer

Financial Controller

Head of Shared Services

Tax Director

Corporate Lawyer

Finance Manager

Accounting Manager

Cost Accounting Specialist

Transfer Pricing Manager

Operations Director

Compliance Officer

Group Financial Controller

Business Unit Director

Treasury Manager

Industries
Belgian Civil Code (Code Civil/Burgerlijk Wetboek): Provides the fundamental framework for contract formation, validity, and enforcement in Belgium, including requirements for mutual consent, capacity, and consideration
Belgian Company Code (Code des Sociétés/Wetboek van Vennootschappen): Governs corporate relationships and inter-company agreements, including provisions on transfer pricing and related party transactions
Belgian Income Tax Code (Code des Impôts sur les Revenus/Wetboek van de Inkomstenbelastingen): Contains provisions on tax treatment of indirect costs, deductibility of expenses, and documentation requirements for cost allocation
Belgian VAT Code (Code de la TVA/BTW-Wetboek): Regulates VAT implications of cost sharing and recovery arrangements between parties
Belgian Accounting Law (LOI Comptable/Boekhoudwet): Sets standards for accounting practices and cost recognition in Belgian businesses
EU Directive 2013/34/EU: European accounting directive setting standards for financial reporting and cost allocation methodologies
Royal Decree on Transfer Pricing Documentation: Specifies requirements for documentation of cost allocation methods between related entities
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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