Terms of Engagement
Except otherwise agreed in writing, these present terms & conditions shall apply to any assignment undertaken by Wissum & Company.
Legal Fees and Payment
Our fees are based on a combination of various parameters, such as
the time spent
the expertise and experience of the attorneys involved
the complexity of the assignment
the importance to the client
the values involved
the outcome of the assignment, and
the liability exposure.
Our fees are exclusive of relevant costs and disbursements. It can be very difficult to estimate the fees upon receipt of the assignment. However we will provide an estimate of the expected fees, costs and disbursements, and we will inform the client as early as possible in the event that the total fees are likely to exceed the estimate.
Invoicing, Terms of Payment and Prepayment
The client is usually invoiced when the assignment has been completed. Continuous assistance and assignments of a longer duration are invoiced at regular intervals, typically monthly or quarterly, unless otherwise agreed.
The terms of payment are two weeks of the date of in-voice, and VAT is added pursuant to applicable rules.
Prepaid fees, disbursements or costs are paid into our client account, and the amount may be used to settle future invoices, disbursements and costs, unless otherwise agreed.
Interest on Client Account Deposits
Client accounts with Wissum & Company carry interest in accordance with applicable rules and regulations. Deposits in client accounts will accrue interest – negative or positive – with the rate of interest applicable from time to time to our account with Nordea Bank Denmark.
Disbursements and Costs
Disbursements and relevant costs in connection with the assistance (provided) are charged separately to the client. In general, we ask for prepayment of disbursements and costs.
Conflict of Interest or of Loyalty
We ensure in accordance with the rules of the Danish Bar and Law Society that no conflict of interest or of loyalty exists before we accept an assignment. If subsequently a conflict of interest or impartiality should arise, causing us to discontinue our work, we shall be pleased to recommend another law firm.
KYC, Identity Information
In accordance with the Danish Act on Measures to Prevent Money Laundering Wissum & Company, like other law firms are obliged to obtain and keep identity information on any client.
Discontinuation of an Assignment
Wissum & Company reserves the right to discontinue our assistance immediately if the credit period of our invoices, despite reminders, has been exceeded considerably, or if the client becomes insolvent. We also reserve the right to withdraw from a matter if, in exceptional cases, we find that we cannot be responsible for handling the case or if we believe that it is in the interest of the client that our cooperation is terminated.
Any dispute between a client and Wissum & Company shall be subject to Danish law and the jurisdiction of Danish courts.
Liability, Limitation of Liability and Insurance Cover
Wissum & Company is liable for our advice to clients in accordance with the general rules of Danish law, and we are insured against third-party risks with Tryg Forsikring.
Our liability is, however, limited to a maximum of DKK 5 million per assignment and the compensation to a client cannot exceed DKK 5 million for claims advanced or increased within the same or the immediately following calendar year.
Our liability does not comprise financial consequential losses, including, but not limited to, operating loss, loss of data, lost earnings, goodwill, image, etc., or any other indirect loss.