Loving Arms Child Care

 

FINANCIAL AGREEMENT

 

I/WE _______________________________, the parent and or guardian, here after known as The client/s, have contracted for childcare enrollment for our child or children __________________________________ with Linda Fisher of Loving Arms Child Care, a Family Child Care Home.

I/We have thoroughly read and understand all policies, releases and requirements of the child care home and we agree to respect and abide by the entire contract as a whole.

 

I/WE, The client/s, am/are contracting with Linda Fisher of Loving Arms Child Care for her child care services. The tuition plan we agree to is The Alternate Contract where we agree to pay a higher weekly rate in lue of paying for the providers vacation time or The Regular Contract where we agree to pay for all the providers vaction time. The weekly rate agreed to for our child/children will be $_______ per week.

 

I/We, The client/s understand that this amount is due and payable in advance according to contract whether our child attends or not. The hours and days available to us on the days the child care home is open are as follows:

 

 

I/We, The client/s, understand that there is no reduction in our tuition when the child care home is closed as stated in the Holiday and Vacation Policy of the child care home.

 

I/WE, The client/s, understand that there is no reduction in our tuition when our child does not attend due to illness as stated in the Illness Policy of the child care home.

 

I/We, The client/s, understand that child care prior to 7:00am is required to be pre-arranged with Linda Fisher of Loving Arms Child Care and will be billed at the hourly rate of $7.00 per hour. The overtime is due and payable immediately.

 

I/We, The client/s, understand that the child care home closes promptly at 5:00pm. All children must be picked up before 5:00 PM. I/We understand overtime charges of $1.00 per minute will start promptly at the agreed upon pick up time stated above.

 

I/We, The client/s, agree to pick our child up on time and will be responsible for all overtime charges at a rate of $1.00 per minute per child starting promptly at the agreed upon pick up time.

 

I/We understand that overtime charges can be avoided by pre-arranging extended care in advance at the rate of $7.00 per hour per child.

 

I/We, The client/s, understand that tuition is due and payable in advance. I/We understand tuition is due on Thursday morning at drop off time. I/We understand that as stated in the Policy Statement of the child care home a 10% per day late fee may be charged if tuition is not paid on time according to contract. I/We understand that our child care provider reserves the right to refuse admission to our child if our tuition is not current. I/We understand that if this situation occurs the 10% per day late fee is not waived.

 

DEPOSITS

I/We, The client/s, understand Linda Fisher of Loving Arms Child Care requires a deposit equal to the amount of two weeks of care.

 

Linda Fisher of Loving Arms Child Care has received a deposit in the amount of ____________________.CK# ______

 

I/We, The client/s, understand the above mentioned deposit is not refundable. I/We understand that if the child care relationship is terminated by our provider Linda Fisher, that the deposit will be applied to the last two weeks of child care services, providing no other tuition or fees, vacation days or personal days are not yet paid. I/We understand that if Linda Fisher terminates the child care relationship due to our repeated contract violations, our deposit is lost and will not be credited or returned in any way.

 

I/We, The client/s, understand in the event we choose to terminate the child care relationship, Linda Fisher will subtract from the deposit the financial amount equal to the tuition cost of the number of accrued vacation days not yet taken by her, our child care provider. In addition, Linda Fisher will also subtract any personal days due to her to match the number of personal days used by our child. This has been clearly explained in the Holiday and Vacation schedule.

 

I/We, The client/s, understand that if a check written to Linda Fisher does not clear our account for any reason, that Linda Fisher may subtract the check amount, all late fees and any fees incurred by Linda Fisher from our deposit. I/We understand that we will be required to replace the deposit amount used and all fees not covered by our deposit within twenty four (24) hours. I/We understand that in failing to do so may be grounds for termination, without notice, and we will forfeit any remaining deposit or fees. If Linda Fisher accrues any costs in collecting tuition or fees due according to contract, we will be responsible for all and any expenses including but not limited to the cost of substitute child care, lost income and court cost and attorney fees for both parties.

 

I/We, The client/s, understand that if tuition or fees due to Linda Fisher are not paid on time according to contract, Linda Fisher may subtract a $10.00 per day late fee from the deposit. I/We understand that we will be required to replace the deposit amount used and all fees not covered by our deposit within twenty four (24) hours. I/We understand that in failing to do so may be grounds for termination without notice, and we forfeit any remaining deposit amount.

 

I/We, The client/s, understand that if we fail to supply diapers, wipes, formula, special diet etc. required for the care of our child, that the dollar amount for the purchase of the items, plus a $20.00 service charge for each trip, will be subtracted from our deposit. We understand the full deposit amount must be replenished within twenty four (24) hours.  I/We understand that failing to do so may be grounds for termination without notice, and we forfeit any remaining deposit amount.

 

I/We, The client/s, understand that if we choose to terminate the child care relationship for any reason, we must fill out the “Termination of Services” form and return it to Linda Fisher a minimum of fourteen (14) days prior to the date of termination. The “Termination of Services” form must that same day be accompanied by a check for the balance of the fourteen (14) days and be submitted on the regular payday.  I/We, attest that a “Termination of Services” form has been provide in our parent handbook and we understand that we may ask for one at any time or get one at www.geocities.com/lovinarmsdaycare/TERMINATIONPOLICY.htm.

 

I/We, The client/s, understand that if the child care relationship is terminated by us, that we are required by contract to submit the completed “Termination of Services” form. I/We agree to submit the written two week notice on the morning of the regularly scheduled child care payday. We understand that the entire tuition of $________ per week will still be due for the remaining fourteen (14) days whether or not our child/children attends.

 

The final balance due will be calculated by Linda Fisher on the day the Termination notice is received. Once calculated, we agree to pay the entire amount due in advance, according to contract.

 

I/We, The client/s, understand that any repeated violation of any part of our child care policies may be grounds for termination without requiring notice, and that our deposit will not be refunded in any way. To prevent this situation from occurring we agree to respect and abide by the child care policies.

 

I/We, The client/s, the undersigned agree to be responsible for and pay all attorneys fees, court costs and other related costs necessary to enforce the provisions of this financial agreement and contract as a whole.

 

Parent   Or Guardian      (print)   _____________________________________________  Date ___________

                                    (sign)    _____________________________________________  Date ___________

 

Provider                        (sign)    _____________________________________________  Date ___________

Updated April 2003