Common use of Accounting Statements Clause in Contracts

Accounting Statements. The Agent shall furnish to the Owner a monthly statement of receipts and disbursements from the Owner’s account, and remit any balance, other than the amount stated under Paragraph number 15 of this agreement, to the Owner. The disbursements shall include the compensation of the Agents as stated in this Agreement. As required by law, at the end of each calendar year, the Owner will receive a 1099 I.R.S. tax form on all rental income received by the Agent.