These Terms of Business govern the basis on which Accura Advokatpartnerselskab ("Accura") provides legal services for clients, unless otherwise agreed.
2 INFORMATION ON ACCURA
Accura has the following general contact information:
Tuborg Boulevard 1
Phone +45 3945 2800
Fax +45 3945 2801
Names and contact information of the partners and staff with Accura who will normally provide legal services to the client will appear from an engagement letter or correspondence with Accura.
All Accura's attorneys and MScs in Business Administration and Commercial Law have special expertise in Accura's practice areas. Accura's attorneys have been licensed by the Danish Ministry of Justice and are members of the Danish Bar and Law Society (Advokatsamfundet). Now and then, Accura also employs persons who are licensed to practise law in other EU countries. These persons are registered with the Danish Bar and Law Society and practise law in Denmark on the basis of their foreign titles.
Accura has taken out a liability insurance and provided a guarantee in accordance with the rules of the Danish Bar and Law Society. The liability insurance covers all legal services irrespective of where such services are provided. The partners and staff who are not licensed to practise law are also covered by Accura's liability insurance. Accura's liability insurance and guarantee have been taken out with AIG Europe Limited, Osvald Helmuths Vej 4, 2000 Frederiksberg, Denmark.
We will inform the client of any public legal aid provided by current Danish legislation or any legal aid available under an insurance taken out by the client if relevant in relation to the specific case. If our fees are to be paid by a public authority or an insurance company, on a preliminary or final basis, we will inform the client of the principles for the fixing of fees and the possible consequences for the client.
Any dispute relating to Accura's legal services will be solved according to the provisions set out in clause I1(a)(i)19.1.
In accordance with the rules of the Danish Bar and Law Society and Accura's internal rules, we will examine whether there is a conflict of interest or loyalty before taking on a case. If it has been agreed with the client that Accura cooperates with others on the provision of assistance to the client, we will, at the client's request, provide information on the measures taken by Accura to avoid any conflict of interest or loyalty in that respect.
Accura's attorneys are subject to the provisions on attorneys of the Danish Administration of Justice Act (retsplejeloven), including the supervisory and disciplinary system of the Danish Bar and Law Society, and the provisions on professional conduct for attorneys (Reglerne om god advokatskik); see section 126 of the Administration of Justice Act. Moreover, the Code of Conduct for the Danish Bar and Law Society applies. The Code lays down requirements for attorneys' professional standard and ethics. We refer to the Danish Bar and Law Society's website www.advokatsamfundet.dk.
3 MEASURES TO PREVENT MONEY LAUNDERING
Being a law firm, Accura is subject to the provisions of the Danish Act on Preventive Measures against Money Laundering and Terrorist Financing (the "Money Laundering Act") (hvidvaskloven). We are required to obtain and store information about our clients' identity as well as ownership and control structure in accordance with the provisions of the Money Laundering Act. Moreover, we must examine any transaction if we suspect that the transaction is connected to money laundering or terrorist financing.
4 LEGAL SERVICES
We will usually prepare an engagement letter when we establish a professional relationship with a client. The engagement letter states the legal services that we expect to provide and the partner responsible for the client and the staff, including specialists, generally assigned to the client. Further, the engagement letter may contain a fee agreement.
Unless we have made a separate written fee agreement, we will calculate our fees on the basis of an estimate with due consideration to the importance and value of the case to the client, the outcome of the case, the nature and the extent of our work and the scope of responsibility involved.
We provide the client with a detailed description of our fee calculation method or an estimate of the expected fees. If we have provided the client with an estimate, and we expect that our total fees will exceed the estimated amount, we will notify the client as soon as possible. If the client is a private individual, we will always notify the client in writing.
We will invoice our fees on a monthly basis or after completion of the individual case. Our payment terms are 8 days net, and we add VAT as provided by current Danish legislation. In case of late payment, we charge 2% interest after the due date for every month or part of a month. If, however, the client is a private individual, interest may be charged from the time and subject to the interest rate set out in the Danish Interest Act (renteloven).
We may ask our clients to deposit the expected fees or part thereof. Normally, we request deposits from clients with whom we do not have a regular or longstanding professional relationship.
In addition to our fees, the client must pay for the expenses incurred by us in connection with our work, e.g. fees, travel and accommodation expenses and some copy and transport expenses. Such expenses will always be specified. We will notify the client of expected expenses, including public authority fees and transport expenses etc., and we reserve the right to request prepayment of any amount necessary to pay for such expenses.
Payments to Accura must be made in accordance with the payment information stated in our invoices.
10 CLIENT FUNDS
Accura handles all client funds entrusted to us in accordance with Danish legislation and the client account rules of the Danish Bar and Law Society (Klientkontovedtægten). All funds are deposited in client accounts with our bank, and interest on the amounts will accrue to the relevant client in accordance with the rules of the Danish Bar and Law Society.
Please note that, if a bank is failing, client account deposits are subject to the same rules on the cover of deposits as personal bank account deposits. This means that, if restructuring proceedings or bankruptcy proceedings are commenced against a bank, the depositors may lose any deposit exceeding an amount equal to EUR 100,000 per depositor.
11 DUTY OF CONFIDENTIALITY
We keep confidential all information disclosed to us as part of our work subject to the rules of the Danish Bar and Law Society.
12 MARKET ABUSE
We are subject to current Danish legislation prohibiting the disclosure of inside information on listed companies and restricting the trading in listed securities. Moreover, our staff are subject to internal rules preventing market abuse.
13 INTELLECTUAL PROPERTY RIGHTS
Our clients are entitled to use the material prepared by us to the extent required by the specific case. However, we retain ownership of the intellectual property rights attaching to such material. Our clients may use our material only in connection with the specific case and are not entitled to disclose such material to any third party without our prior written consent.
We will continue to provide the assistance agreed until our work has been completed. We may, however, cease to provide assistance if our client makes a request to that effect or revokes its instructions, or if issues relating to our code of conduct make it inadvisable to continue our assistance. This also applies if the client's payment of our fees is delayed to a material extent, or if there is reason to doubt the client's ability to pay, and the necessary guarantee for payment of our fees is not provided, or if we believe that it is in the client's best interest that we cease to provide our assistance.
15 STORAGE OF FILES
In general, we store all documents relating to a case, including electronic data, for 5 years after completion, unless the nature of the case calls for a shorter or longer storage period or a longer storage period is required by Danish legislation. We will return the original documents on completion of our work, at the latest, unless otherwise agreed with the client.
Unless otherwise agreed, our marketing material may refer to Accura's assistance to the client in connection with the case when our work has been completed and has become public knowledge.
17 LIABILITY AND LIMITATION OF LIABILITY
Accura is liable under the general Danish law on damages for any loss suffered by the client as a result of our legal services. However, the amount of our liability is limited to DKK 50,000,000 per case irrespective of cause. The client is not entitled to receive more than DKK 100,000,000 for the total claims against Accura raised or increased within the same or the subsequent calendar year.
The client is only entitled to raise a claim against Accura as a result of Accura's legal services in connection with the case and not against any individual partner or staff with Accura.
We are not liable for any operating loss, loss of time, loss of data, loss of profits, loss of earnings capacity, goodwill, image or any other types of indirect loss or consequential damage.
Accura only advises on Danish law issues. Any statement or information from Accura concerning issues covered by the law of other jurisdictions is for informative purposes only, and Accura assumes no liability in that respect. We recommend that our clients engage foreign attorneys if the case involves foreign law issues. Accura assumes no liability for any legal services provided by foreign attorneys even if such attorneys have been engaged with Accura's assistance.
If the client finds that our legal services have not been satisfactory, we will encourage the client to contact the partner responsible for the case to find a solution. If dissatisfied with Accura's legal services, the client may contact Accura's Chief Operating Officer at any time.
Any complaint about attorneys will be heard by the Danish Disciplinary Board (Advokatnævnet). The rules on complaints are available at the website of the Danish Bar and Law Society www.advokatsamfundet.dk/Advokatnaevnet.aspx.
19 GOVERNING LAW AND DISPUTES
Any dispute between a client and Accura concerning Accura's legal services or these Terms of Business are governed by Danish law, and the Danish courts have sole jurisdiction, the City Court of Copenhagen being the court of first instance. However, Accura may demand that such dispute be decided by an arbitration tribunal in accordance with the Rules of Arbitration Procedure of the Danish Institute of Arbitration.