TERMS OF

ENGAGEMENT

PRACTICAL

INFORMATION

TERMS OF ENGAGEMENT FOR LEGAL COUNSELLING PROVIDED BY ADVICE LAW FIRM

Unless otherwise agreed, the following Terms of Engagement apply to all legal counselling provided by Advice Law Firm – Business reg. (CVR) no. 32 30 07 74 – to its clients. The Terms of Engagement were most recently amended as of 15 December 2017.

It should be noted that these Terms of Engagement stipulate limitations of liability.


Attorneys

Advice Law Firm is a Danish law firm, and our attorneys are Danish attorneys admitted to practice law by the Danish Ministry of Justice. All our attorneys are members of the Danish Bar and Law Society.

Fees

The fees charged by Advice Law Firm are generally calculated on a time-spent basis. The fees charged also take into account the nature of the case, the liability involved in the case, the complexity of the case and the outcome of the case. Clients are usually invoiced on a monthly basis unless otherwise agreed, and the terms of payment are eight days net from the date of invoice. Our fee is subject to VAT in accordance with the applicable rules. In the event of late payment, interest will be charged from the due date of the invoice in accordance with the provisions of the Danish Interest Act in force from time to time.

In some cases, we will request prepayment or a deposit of the whole or part of the fee expected to be charged in the case. Such payments will be considered and treated as client funds.

Generally, expenses and outlays in relation to the performance of the assignment are not included in the fee and are therefore payable separately by the client.


Client funds

All client funds are managed in accordance with the rules laid down by the Danish Bar and Law Society and will be placed in a client account (client account byelaws) with a recognised bank. Any interest will accrue to the client in accordance with the rules laid down by the Danish Bar and Law Society.

Client funds held in a client account with Advice Law Firm are covered by the Danish Act on a Depositor and Investor Guarantee Scheme. The statutory Guarantee Fund covers any legitimate depositor’s funds up to an amount equivalent to EUR 100,000 (approximately DKK 750,000). The maximum coverage applies to the depositor’s total deposits with the bank, even if the money is held in different accounts, including both client bank accounts and own accounts. Special rules apply to deposits resulting from real estate transactions if the property concerned has been used or is intended for primarily non-commercial purposes. In such cases, the Guarantee Fund covers up to EUR 10 million for a period of up to 12 months from the date on which the deposit was made and regardless of whether the deposit is in a separate account.

 

Confidentiality

All information disclosed by clients to Advice Law Firm and all information on clients or any other persons received in connection with the performance of work for clients is treated as confidential.

Advice Law Firm is also subject to special rules on the handling of inside information and restrictions on securities trading.

 

Preventing money laundering and financing of terrorism

In compliance with the Danish Money Laundering Act, Advice Law Firm has drawn up Internal Guidelines to Prevent Money Laundering and Financing of Terrorism.

 

Under the provisions of the Money Laundering Act, Advice Law Firm is required to obtain identity information from new and existing clients and has a reporting obligation to the authorities, for instance if there is any suspected violation of the provisions of the Act.

 

By disclosing personal data to Advice Law Firm, the client consents to the disclosure of such data to any third parties who are subject to the same guidelines and obligations, including without limitation auditors.

 

Preventing conflicts of interest

Advice Law Firm’s written Internal Guidelines to Prevent Conflicts of Interest have been approved by the Danish Bar and Law Society.

 

Personal data

Advice Law Firm is subject to the provisions of the Danish Act on Processing of Personal Data.

 

You are always welcome to contact Advice Law Firm and request information about which of your personal data we are processing, have incorrect data corrected or have data deleted.

 

Complaints

If you, as a client, find that our work has not lived up to our agreement or your expectations, please present your complaint to the responsible partner.

If, subsequently, you wish to file a formal complaint about the handling of your case or the invoicing of the legal counselling provided, please address your complaint to the Disciplinary Board of the Danish Bar and Law Society, Kronprinsessegade 28, DK-1306 Copenhagen K.

On www.advokatnaevnet.dk, you can find more information about the rules for filing complaints relating to the professional conduct of or the fees charged by an attorney, including the deadlines for filing complaints.

 

Liability and insurance

Advice Law Firm is liable for advice provided to clients in accordance with the general rules of Danish law. For each individual engagement and in any case of simple and gross negligence on the part of Advice Law Firm, the liability of Advice Law Firm is limited to the amount covered by the attorneys’ professional liability insurance taken out by Advice Law Firm. Advice Law Firm has taken out professional liability and fidelity guarantee insurance with Tryg Forsikring A/S. Information about the current limit of liability is available on request. If and when the circumstances of a specific case so require, we will agree with the client to take out additional insurance for the case in question. Advice Law Firm cannot be held liable for any indirect losses or business interruption losses, including loss of data, profits, goodwill, image, etc.

 

Filing

All documents in the cases we have dealt with are, as a general rule, stored and kept for five years from the closure of the case unless the nature of the case warrants a shorter or longer storage period. However, we will always return original documents at or before the time when the case is closed unless otherwise specifically agreed.

 

Copyright

We will usually always retain ownership of any intellectual property rights to the work we produce when providing advice in a case unless otherwise specifically agreed. This means that our clients will be fully entitled to use any specific, written materials we prepare and that we will retain any and all rights to the standards and model agreements we develop or use in the course of our work.

 

Closing a case

Advice Law Firm continues to work on a case until it can be regarded as closed unless, prior to that stage, the client has requested us to suspend work, the due date of an invoice has been exceeded and the client has been notified that work will be suspended if payment is not made within a specific time limit, or the client becomes insolvent.

Advice Law Firm and Kirsten Reimers-Lund, Attorney-at-Law

Advice Law Firm is a partnership of private limited companies of attorneys registered under business reg. (CVR) no. 32 30 07 74. Attorney Kirsten Reimers-Lund is a sole practitioner of law in shared office facilities with Advice Law Firm. Accordingly, these Terms of Engagement also apply to all legal counselling provided by Kirsten Reimers-Lund.

Governing law and venue

Any dispute relating to legal assistance and counselling provided by Advice Law Firm must in all respects be resolved in accordance with Danish law, except where conflict of laws rules invoke the application of foreign law, and any dispute will be subject to the exclusive jurisdiction of the courts of Denmark with Copenhagen as the proper venue.