TERMS OF BUSINESS:

Terms of business:
The Terms of Business govern the basis upon which Kønig & Partners Law Firm provides legal services and advice, unless otherwise agreed in writing with the client.


Conflicts of interest rules
According to the Danish Bar and Law Society´s code of legal ethics we make sure that no conflict of interest or conflict of loyalty is present before assisting a client. Should such a conflict arise during the assisting of a client, making it necessary to discontinue our representation of the client, we are happy to recommend a different lawyer.


Preventive anti-money laundering measures
Kønig & Partners Law Firm is - as are all Danish law firms - subject to the Danish Act containing anti-money laundering and anti-terrorism financing measures (lov om forebyggende foranstaltninger mod hvidvaskning af penge og finansiering af terrorisme). Under the Act, Kønig & Partners Law Firm is required to obtain and keep client identification records for five years.


Fee and payment
Fees are based upon several different parameters. Fees are calculated from the time spent, the specialist skills and experience of the lawyers involved, the complexity of the work, the importance of the matter to the client, the monetary values involved, the results achieved and the liability involved in the Engagement. The fees are exclusive relevant costs and disbursements.

It can be difficult to asses a fee at the beginning of an Engagement. At the clients request, we are happy to offer an assessment of the expected size of the fee before the work is commenced. In those cases where an assessment may be difficult to offer, we will inform according to which pa-rameters the fee will be calculated, for example which hourly rates will be used for the Engagement. We will inform the client if, during the carrying of the Engagement, the fee is expected to exceed the given assessment.

To consumers, we will on our own initiative inform of the expected fee or the criteria for calculating the fee before the work is commenced.


Billing
As a general rule, we request prepayment/deposit of funds regarding disbursements and external costs - and in some cases prepayment/deposit of funds regarding our fee.

Prepaid or deposited funds are deposited in our client account and may, including any interests, be used for settlement of future invoices and costs, unless otherwise agreed.

Our terms of payment are 14 days from date of invoice. Interests will be calculated after the Overdue Payments Interest Act. The fees are subject to VAT, unless otherwise provided by applicable law.


Disbursements
The client is separately charged for disbursements and relevant costs in connection to the Engagement.

Confidentiality
All employees at Kønig & Partners Law Firm are subject to a duty of confidentiality. All information from or concerning a client at Kønig & Partners Law Firm, received during the carrying out of an Engagement will be treated as confidential, unless it is apparent under the circumstances, that the information is not of a confidential nature.


Prohibition against insider dealing
All employees at Kønig & Partners Law Firm are subject to rules that satisfy the requirements of the Danish Securities Trading Act (lov om værdipapirhandel) on prohibition against disclosure of insider information regarding listed companies and on restrictions on trading in listed securities.

 

The use of our counselling
Our counselling is targeted at the individual Engagements and may therefore not be used for any other purpose without the explicit acceptance of Kønig & Partners Law Firm.


Conclusion of the Engagement
Kønig & Partners Law Firm continues the Engagement to its natural conclusion or until the client requests that the Engagement be concluded. However, we reserve the right to conclude our involvement if the terms of payment are substantially exceeded in spite of payment reminders or if the client falls into insolvency. We furthermore reserve the right to withdraw from an Engagement, if we in certain cases no longer find that we can uphold responsibility for the handling of the Engage-ment, or if we believe that it is in the interest of the client that the collaboration is ended.

Original documents will be given to the client at his/her request, usually at the conclusion of the Engagement at the latest, and we store the case files for at least 5 years from date of (final) invoice.


Complaints
Kønig & Partners Law Firm is subject to the legal ethics rules contained in § 126 of the Danish Administration of Justice Act (Retsplejeloven). The General Council of the Danish Bar and Law Society supervises compliance with the code of legal ethics and has drawn up a Code of Conduct requiring lawyers to comply with high professional and ethical standards. Any disputes concerning our legal assistance or our legal fees can be brought before the General Council of the Danish Bar and Law Society, Kronprinsessegade 28, DK-1306 Copenhagen K.

However, if the client is not satisfied with our services or fees we ask that the client contact the partner and/or lawyer responsible for the client relationship before making contact to the General Council of the Danish Bar and Law Society.


Governing law and jurisdiction
Any dispute regarding Kønig & Partners Law Firms advice is subject to Danish law and the exclusive jurisdiction of the Danish Courts.


Liability, Limitation of liability and insurance
Kønig & Partners Law Firm is liable for damages in accordance with the general rules of Danish law and is covered by professional liability insurance in a recognized insurance company.

All lawyers in Kønig & Partners are covered by the firm´s insurance in HDI-Gjerling Forsikring. The insurance covers all legal assistance rendered by Kønig & Partners irrespective of where the legal assistance is rendered.

Kønig & Partners Law Firm is not liable for any loss on operations, loss of time, loss of data, profits, goodwill, image or any similar indirect losses.

In case of a bank´s bankruptcy the depositors will be covered according to the Danish Act on Guarantee for Depositors and Investors. The guarantee amount covers a justified depositor´s funds up to an amount equivalent to 100,000 EURO (approx. 750,000 DKK). This maximum coverage covers the entire deposit in the bank even though the amount is places in different accounts, including clients´ accounts and own accounts.

Special rules applies for deposits regarding real estate if the property has been used for or is determined primarily for non-commercial purposes. In this regard the amount covered is up to 10,000,000 EURO until 12 months after the deposit date regardless of whether the deposit is deposited on a separate account. You can find further information about the Danish Act on Guarantee for Depositors and Investors on www.gii.dk.