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             [LETTERHEAD OF RETURN ASSURED, INC. - IBM CANADA LTD.]


EXHIBIT 10.7

                  Statement of Work for
                  Time-Based Project Services

                  We appreciate and value your business.

                  By signing below, each of us agrees to the terms on this page
                  and the following pages.

                  This Transaction Document, your IBM Customer Agreement or the
                  attached IBM Service Agreement (whichever is applicable) and
                  any other applicable Amendments and Transaction Documents make
                  up the entire agreement between both of us regarding the
                  Services we provide to you in support of your project referred
                  to as the Return Assured Strategic Initiatives Project - Phase
                  1. These replace all previous agreements or other
                  communications between us regarding these Services.

<TABLE>
<S>                                                             <C>
                 Agreed to:                                     Agreed to:

                 Return Assured, Inc.                           IBM Canada Ltd.
                 Suite 2240, 885 West Georgia Street            Suite 200, 4601 Canada Way
                 Vancouver, British Columbia                    Burnaby, British Columbia
                 V6C 3E8                                        V5G 4X3

                 By:                                            By:


                 ----------------------------------             ----------------------------------
                 Name:  Mr. Matt Sebal                          Name:  Mr. Mark Emerson


                 ----------------------------------             ----------------------------------
                 Title: President and CEO                       Title: Principal, IS&S Vancouver


                 ----------------------------------             ----------------------------------
                 Date:                                          Date:


                 Customer Number: 530198                        IBM Customer Agreement No: ICA-530198
</TABLE>


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             [LETTERHEAD OF RETURN ASSURED, INC. - IBM CANADA LTD.]



                  Under this Statement of Work, we will provide Project Services
                  (called "Services") to you on a time basis. The Services we
                  provide are described in the section of this Statement of Work
                  entitled "Our Responsibilities".

1.1      Project Description

                  The Return Assured Strategic Initiatives Project - Phase 1
                  (called the "Project") objective is to determine the
                  functional requirements, IT strategy and high-level technical
                  and application architecture design for the Return Assured
                  Strategic Business Model.

1.2      Our Responsibilities

                  We will:

                  o   provide services to support the requirements, IT strategy
                      and high-level technical and application architecture
                      design phases of your project;
                  o   provide the required computer hardware and IBM software
                      required by our personnel.

                  With your support and participation, our efforts will be spent
                  in the following areas:

                  1.  Functional Requirements Document

                  2.  IT Strategy Document

                  3.  High-Level Technical and Application Architecture Design
                      Document

                  During the first 5 to 10 days of the project, Return Assured
                  and IBM will work jointly to develop the project plan for this
                  statement of work and the scope description of the above 3
                  documents, including a table of contents.

                  IBM will re-estimate the hours based on the project plan
                  developed during the first 5 to 10 days of the project. IBM
                  will present a change order reflecting any changes to scope,
                  effort, duration, or price.

1.3      Your Responsibilities

                  You agree to:

                  o   provide any decisions, approvals, and information within
                      three working days of receiving a request, unless stated
                      otherwise in this Statement of Work;

                  o   provide office space and facilities for the Project Team
                      that are of the same standard as you provide for your own
                      personnel;

                  o   provide the Project Team with the required non-IBM
                      software and development tools

                  o   provide access to key business personnel as defined the
                      project plan

                  o   provide a single point of contact for the IBM Project
                      Manager

                  o   be responsible for assessing your current systems and
                      taking appropriate actions to migrate to Year 2000 ready
                      systems, and



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             [LETTERHEAD OF RETURN ASSURED, INC. - IBM CANADA LTD.]


                  o   obtain all authorizations for us and our subcontractors to
                      access, use and modify non-IBM products or information,
                      necessary for us to fulfill our obligations under this
                      Statement of Work, without violating any third party
                      rights. For greater certainty, we are relieved of any
                      obligations adversely affected by your failure to do this.

                  Your Warranty
                  For all products and information, which you make available to
                  us for the performance of Services, you warrant that you may
                  disclose them to us and allow us to use them without breach of
                  any confidential or contractual relationship.

1.4      Estimated Schedule

                  We plan to perform the Services during our normal business
                  hours starting on October 01, 2000 and ending on December 31,
                  2000 (called the "End Date") unless both of us agree to in
                  writing to another schedule.

1.5      Completion

                  The Project Services will be considered complete when the End
                  Date is reached or we supply the estimated number of hours,
                  whichever comes first.

1.6      Charges

                  Charges will be calculated as described below.

<TABLE>
<CAPTION>
                  -------------------------------------- ---------------- ----------------- ----------------
                  Skill Classification                   Estimated        Hourly Rate       Estimated
                                                         Hours                              Charges
                  -------------------------------------- ---------------- ----------------- ----------------
<S>                                                      <C>              <C>               <C>
                  Project Manager                                    150           $200.00       $30,000.00
                  -------------------------------------- ---------------- ----------------- ----------------
                  e-business Consultant                              300           $250.00       $75,000.00
                  -------------------------------------- ---------------- ----------------- ----------------
                  Business Analyst                                   300           $200.00       $60,000.00
                  -------------------------------------- ---------------- ----------------- ----------------
                  Technical Architect                                150           $200.00       $30,000.00
                  -------------------------------------- ---------------- ----------------- ----------------
                  Application Architect                              200           $200.00       $40,000.00
                  -------------------------------------- ---------------- ----------------- ----------------
                                                               Estimated  Total:                $235,000.00
                  -------------------------------------- ---------------- ----------------- ----------------
</TABLE>

                  You agree to pay a minimum charge of three hours at the
                  applicable rate for Services under this Transaction Document.

                  In addition to our net charges, you agree to reimburse us for
                  all out-of-pocket expenses such as travel, lodging and meals
                  associated with travel, courier charges, long distance
                  telephone charges and other similar expenses. We will obtain
                  your approval before we incur expenses that will result in
                  total reimbursements exceeding fifteen percent of our net
                  charges.

                  A prepayment of $75K required upon contract signing. The
                  actual charges and expenses will be invoiced monthly. The
                  prepayment balance will be deduced from the monthly invoice.
                  Your payment is due on receipt of our invoice.

                  We may change our rates upon three (3) months' prior written
                  notice. If we determine that the Estimated Total will be
                  exceeded, we will advise you in writing. If we change the
                  rates or advise you that the Estimated Total will be exceeded,
                  you may immediately end the Services by giving us written
                  notice.



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1.7      Ending Project Services Early

                  You may end Project Services immediately as described in the
                  section entitled "Charges". Either of us may end the Project
                  Services on one month's written notice to the other.

1.8      Products and Materials

                  Under this Statement of Work we are not responsible for (1)
                  your products (2) any third party's products, including
                  products you license from subcontractors, and (3) our
                  previously installed Products (all collectively called "Other
                  Products"), to correctly process or properly exchange accurate
                  date data. For greater certainty, we will be relieved of our
                  obligations under this Statement of Work due to the inability
                  of Other Products to correctly process or properly exchange
                  date data.

                  Under this Statement of Work we do not make any
                  representations, warranties or conditions with respect to
                  Products.

                  Materials
                  Materials are deliverable items created by us under this
                  Statement of Work.

                  We will deliver one copy of each Material to you. We grant or
                  will have granted to you an irrevocable, non-exclusive,
                  world-wide, paid-up license to use, execute, reproduce,
                  display, perform, distribute (within your Enterprise only)
                  copies of the Materials. We or third parties reserve all
                  right, title and interest (including ownership of copyright)
                  in the Materials.

1.9      No-hire Term

                  Both of us agree that without the other's written consent,
                  neither of us will directly solicit the services of any
                  other's personnel or the other's subcontractor personnel who
                  perform the services or have responsibilities under this
                  Statement of Work:
                  o   As an employee,
                  o   As an independent contractor, or
                  o   Indirectly through a third party,

                  Until one year has elapsed after this Statement of Work ends.

                  This does not prohibit either of us from giving consideration
                  to any application for employment submitted on an unsolicited
                  basis or in response to a general advertisement of employment
                  opportunities.

1.10     Administrative Information

                  Project Name:             Return Assured Strategic Initiatives
\                                           Project - Phase 1

                  Estimated Start Date:     October 01, 2000

                  Estimated End Date:       December 31, 2000

                  Notices will be provided in writing and delivered to you at:
                           Return Assured, Inc.
                           Suite 2240, 885 West Georgia Street
                           Vancouver, British Columbia
                           V6C 3E8
                           Attention:       Mr. Matt Sebal, President and CEO


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             [LETTERHEAD OF RETURN ASSURED, INC. - IBM CANADA LTD.]


                  and to IBM at:
                           IBM Canada Ltd.
                           Suite 200, 4601 Canada Way
                           Burnaby, British Columbia
                           V5G 4X3
                           Attention:       Mr. Mark Emerson, Principal, IS&S
                                            Vancouver


                                   *** END ***


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