1. INTRODUCTION
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.
2. FEES
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.
3. COSTS FOR YOUR ACCOUNT
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.
4. PROVISIONNING YOUR ACCOUNT
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.
6. END OF SERVICES
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.
7. COPYRIGHT
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.
8. CONFLICT OF THE GENERAL TERMS AND CONDITIONS
In case of a conflict between these general terms and conditions and those of the
other party, these General Terms and Conditions shall prevail.
9. LIMITATION OF LIABILITY
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.
10. COMPETENCE AND APPLICABLE OF LAW
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.
11. DOMICILE
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.