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The present terms and conditions constitute the terms for the provision of legal services as well as other services provided by the law firm Marleen Watté-Bollen or any other person or company designated by the law firm Marleen Watté-Bollen.


 The fees are based on the time spent, the difficulty of the mandate, the relationship with and its advantage to the client. Unless otherwise agreed, the hourly rate shall vary between EUR 100 and EUR 350. The variation is due to the type of work done and the person assigned to the job. Other costs such as telephone, fax, photocopy, e-mail, stamps and transport costs, are extras. In some cases, but only with the prior agreement of the client, the billing may include a success fee based on the success of the transaction. The billing covering fees for work done will normally be submitted either on a monthly or quarterly basis. Advances may also be required for work in progress. Settlement is to be made before the end of the month following the date of the issue of the fee note, to the law firm Marleen Watté-Bollen at ING Bank (Luxembourg) S.A., 52, route d’Esch, Luxembourg, or any other banking institution or beneficiary named by the law firm Marleen Watté-Bollen. Late payment will automatically generate supplementary interest charge in accordance with Article 5 or 12 of the law of 18 April 2004. The billing for work done will specify when it is final or when it covers advances. In cases of premature closing of the mandate, work already done to that time will still be billed.


Costs which need to be engaged for your account such as travel costs, outside expert advice, or any other reasonably incurred expense will be charged to you on top of our fees. Additional expenses incurred or additional time spent to respect a deadline imposed by you will be charged to you as supplementary billing, except when otherwise previously agreed upon. In any case we will not agree to engage into expenses of a material amount on your behalf, and arrangements must be made to have such expenses billed directly to you or agreed previously with you. In the case where, exceptionally we are to settle an outside bill of a substantial amount on your behalf we will ask that you advance the cash to cover the expense before we make the payment.


The law firm Marleen Watté-Bollen is allowed to request you an advance to cover the expected billing. For regular clients an advance payment of EUR 1,000 (one thousand EURO) may be requested at the beginning of each mandate year. If so, a minimum advance of EUR 1,000.- is to be maintained at all times. For occasional clients and affairs a minimum advance payment of EUR 500.- may be requested. Any excess amount will be returned when our work is finished.

 5. VAT

All amounts quoted above exclude VAT. Where you consider that our services fall outside the scope of Luxembourg VAT we shall not include VAT provided you communicate to us your VAT number. Where you are subject to VAT, you shall indemnify us of any amount due by virtue of a fine, interest or other legal fees due by virtue of the fact that your VAT regime is not correct.


Upon written instructions from yourselves, you can, at any time, with or without motive, ask that our services be no longer provided except for provisions relating to other contracts. We can also at any time with or without reason subject to our professional obligations cease the provision of services to you. Our services will also end where: (i) you do not reply to our requests for information required to carry out our work on your behalf or; (ii) if continuing our activities on your behalf would be unethical or impracticable or; (iii) your account is overdue or; (iv) your account is not adequately provisioned.


All work done by us on your behalf cannot be copied or transmitted, in any form whatsoever, to any other third party, without our prior written approval. Any breach of such undertaking will give us the right to a proper compensation.


 In case of a conflict between these general terms and conditions and those of the other party, these General Terms and Conditions shall prevail.


The liability of the law firm Marleen Watté-Bollen will be engaged only in case it has committed a gross negligence. Any claim must be introduced within the three months following the occurring of the fault.


These Conditions shall be governed and construed in accordance with the laws of Luxembourg. The Luxembourg courts shall have sole jurisdiction whenever litigation is referred to the courts and the parties agree to the non-exclusive jurisdiction of the Luxembourg court.


For the implementation of these conditions, both parties elect domicile at the office of the law firm Marleen Watté-Bollen presently at 117 Val des Bons Malades, L-2121 Luxembourg. Notifications, petitions and proceedings relating to this agreement must be made at this address.