Client information and business terms

1. CORE DATA

Gangsted-Rasmussen Law Firm is located at the address:

Esplanaden 34A, 1st floor
DK-1263 Copenhagen K
Tel. (+45) 33 33 70 70
E-mail: info@g-r.dk
Company reg. (CVR) no.: 39 35 85 30

Gangsted-Rasmussen Law Firm is established as a partnership company.

The company’s lawyers are authorised to practise law by the Ministry of Justice in Denmark and are admitted to the Danish Bar and Law Society.

2. THE ASSIGNMENT

The legal assistance and the scope of the assignment in question will be agreed upon with the client on start-up as well as on an ongoing basis.

We tailor our advisory services to each client and its specific requirements. Consequently, the advisory services cannot and must not be used for any other purpose without our prior express approval. Unless otherwise agreed, we are only liable to the client for the advisory services provided.

The client will have the required rights to use the specific written material prepared for use in a specific case, whereas the intellectual property rights, including copyrights, to the material produced will remain with our law firm.

We may decide to stop representing a client, for example in the event of the client’s breach of these terms, the client’s bankruptcy or insolvency, or if payment is not made in accordance with our terms.

3. CONFLICT OF INTEREST

In accordance with the rules of the Danish Bar and Law Society and our procedures regarding conflicts of interest, we will clarify that no conflict of interest or conflict of loyalty exists before we accept to take an assignment.

4. MEASURES TO PREVENT MONEY LAUNDERING

Lawyers are subject to the Danish Act on Measures to Prevent Money Laundering and Financing of Terrorism. The act obliges the law firm to collect and keep on file clients’ identity information for five years. Consequently, clients must provide us with their name, address and personal registration number (CPR) or company registration number (CVR) on start-up of a case and, to the extent required, present documentation thereof in the form of a passport, health insurance card or perhaps a driver’s licence in cases involving money transactions. As regards companies, information about and documentation of beneficial ownership must also be provided.

In addition, the Danish Act on Measures to Prevent Money Laundering and Financing of Terrorism obliges the law firm to investigate transactions in the event of a suspicion that they are related to money laundering or financing of terrorism. In this connection we may also be obliged to notify the State Prosecutor for Serious Economic Crime or the Danish Bar and Law Society.

5. CONFIDENTIALITY

Any information we receive in connection with an assignment will be treated confidentially, unless circumstances indicate that the information is not of a confidential nature. This confidentiality follows from the rules on ethics for lawyers and the Danish Act on Processing of Personal Data.

6. INSURANCE AND LIMITATION OF LIABILITY

Gangsted-Rasmussen Law Firm is liable for the legal advice we provide in accordance with the general rules of Danish law. Our liability for any damage extends only to any direct losses, whereas any consequential losses or any indirect losses, including loss of profit, loss of data or goodwill, are not covered by our liability. The law firm is not liable for advisory services or any other services provided by parties other than us, from whom we have requested assistance with the client’s approval or to whom we have referred the client.

Our lawyers are covered by our liability insurance and guarantee scheme taken out with HDI Danmark (a branch of HDI Global SE, Germany). The liability insurance covers any and all practice of law anywhere in the world.

The lawyers are subject to the supervisory and disciplinary system of the Danish Bar and Law Society and the rules of professional conduct set out in section 126 of the Danish Administration of Justice Act. In addition, the rules on ethics for lawyers apply. The rules applying particularly to the practice of law are available at the website of the Danish Bar and Law Society at www.advokatsamfundet.dk.

7. FEES

Pursuant to section 126(2) of the Danish Administration of Justice Act, a lawyer must not charge fees that are higher than what is considered reasonable.

Our fees are set on the basis of a specific assessment, including, among other things, the following factors: Time spent, the specialist knowledge required, the complexity of the case, whether the case required work under severe time pressure, the significance of the case to the client, the responsibility entailed by the case and the outcome of the case.

If requested by the client, we will prepare an estimate of our fees or the criteria for the calculation thereof. Such estimate will be indicative, unless otherwise expressly agreed.

Any dispute relating to the amount of the fee may be brought before the Disciplinary Board (Advokatnævnet) – www.advokatnaevnet.dk.

8. INVOICING AND TERMS OF PAYMENT

Fees for major or long-term assignments are invoiced monthly in arrears, unless otherwise agreed. Fees for small or short-term assignments are invoiced upon completion of the assignment.

The terms of payment are 8 days net to the bank account number specified on the invoice. VAT is added to our fee according to the applicable rules. In case of late payment, default interest will be charged in accordance with the Danish Interest Act.

We reserve the right to ask the client for an advance payment if we deem that this is necessitated by the nature of the case or the client’s place of residence.

All client funds entrusted to Gangsted-Rasmussen Law Firm will be managed according to the rules of the Danish Bar and Law Society on the management of client funds. Interest accrued will accrue to the client, and any negative interest will be payable by the client.

We have a client account with Jyske Bank A/S. In case a bank enters into bankruptcy, the depositors will have losses covered under the Danish Act on a Guarantee Fund for Depositors and Investors. The Guarantee Fund covers deposits up to an amount equivalent to EUR 100,000 (approximately DKK 750,000) per depositor. This maximum applies to the total amount held in deposits with the bank even if deposited in different accounts, including client bank accounts and the client’s own accounts. Special rules apply to deposits concerning real property if the real property has been used for or is primarily for non-commercial purposes. Deposits of up to EUR 10 million will be covered for up to 12 months from the date of deposit, regardless of whether the amount is deposited in a separate account. For more information, see the website of the Guarantee Fund at www.gii.dk.

9. EXPENSES

The client will be charged separately for any expenses related to the case payable to a third party for any services rendered. Such expenses may include court fees, registration fees, fees, reasonable travel and accommodation expenses, meals and shipping charges. If the lawyer handling the case is required to guarantee expenses for an expert opinion – and the client does not have legal expenses insurance or free legal aid – an estimated amount for this purpose will also be charged. Major copying tasks are subject to a separate fee.

10. RECORD-KEEPING OF CASE DOCUMENTS

Original documents will be handed over no later than in connection with the completion of the case, and we will file case documents for a minimum of five years from completion of the case.

11. GOVERNING LAW AND JURISDICTION

Any dispute between a client and Gangsted-Rasmussen Law Firm must be settled pursuant to Danish law with the City Court of Copenhagen as venue.

01.03.2018.