TERMS OF BUSINESS

 

These terms of business govern legal services rendered by LEAD, unless otherwise agreed.

  1. Conflict of Interest

Upon receipt of a matter we will investigate whether there exists a conflict of interest or other reason which prevents us from assisting in the matter. Should this be the case, we will advise you accordingly. We will assist in referring you to other counsel, if we are not able to act in the matter.

  1. Money Laundering

LEAD is subject to the rules of the Danish Act on Measures to Prevent Money Laundering and Financing of Terrorism. We are under an obligation to obtain information from our clients, as is required under such Act.

  1. Client funds

All client funds are deposited in segregated client accounts with our bank and are held according to the applicable rules. Interest accrued is paid to the client pursuant to the applicable rules.

  1. Fees

LEAD´s fees for legal services are determined on the basis of an overall assessment of the circumstances of the matter. The assessment takes into consideration the time spent on the matter, the scope, complexity and nature of the work, including the level of expertise required, the values and responsibility involved in the matter, the importance of the matter to the client and the results achieved. The partner responsible for the matter ensures that the fee is reasonable.

Upon request we will provide a reasoned estimate of our fee for legal services before any task is undertaken. If it is difficult to provide an estimate, we will inform the client of the criteria upon which the fee will be calculated, such as the hourly rates. We will notify the client if we subsequently expect that the estimate will be exceeded.

Before we undertake any tasks for our clients that are considered consumers, we will, at our own initiative, inform them of the expected fee or the criteria for the calculation of our fee.

  1. Disbursements

All external costs and expenses incurred in connection with the matter are invoiced on a regular basis. External costs and expenses include travelling costs and expenses for accommodation and food, as well as certain photo-copying, translation, telephone or postage and courier costs and expenses.

  1. Advance payment

We may request advance payment of fees for legal services or disbursements before commencing any work. Any such amounts are paid into a segregated client account. All accrued interest is credited to the client in accordance with the applicable rules. Advance payments are used to settle fees or disbursements, unless otherwise agreed.

  1. Invoicing

All matters are invoiced on a monthly basis, unless agreed otherwise. Matters of a shorter duration can be invoiced upon completion. Our terms of payment are 8 days from the date of invoice. Foreign clients are granted 14 days from the date of invoice. Default interest will be charged in accordance with the Danish Interest Act. VAT is added to the invoice in accordance with the applicable rules.

  1. Confidentiality

As lawyers we are subject to a duty of confidentiality. All information is treated as confidential.

  1. Insider rules

Partners and employees of LEAD are subject to internal rules in accordance with current legislation prohibiting the disclosure of inside information regarding listed companies and restricting trade in listed securities.

  1. Use of our legal services

LEAD’s legal services are exclusively rendered to our client and may not be relied up on by any third party without our consent.

  1. Completion of our work and our document archives

Original documents are usually handed over no later than on the completion of our work. All other documents relating to the matter are kept on file for five years from the date of invoice.

  1. Governing law and jurisdiction

Any dispute between a client and LEAD shall be settled in accordance with Danish law and may only be brought before the Danish courts.

  1. Liability

LEAD exclusively advises on Danish law, unless otherwise agreed with the client. We are liable for the advice rendered to our clients according to the general rules of Danish law, and we are insured with a reputable insurance company.
Our liability is limited to the insured sum according to our indemnity insurance for each matter. Information on the insured sum shall be made available to clients, upon request.

Our liability does not include consequential losses, loss of data, loss of profits, goodwill, image or other forms of indirect losses.

LEAD is not liable for any errors committed by other advisors or sub-contractors whom LEAD, upon agreement with the client, has asked to assist or to who LEAD has referred the client.