Business terms

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The business terms apply to all assignments that Gangsted performs for the client unless otherwise agreed.

The assignment

Gangsted’s assignments include legal advice and are limited in cooperation with the client.

Instructions

Gangsted offers advice in accordance with the client’s instructions. However, Gangsted would be provisionally entitled to refuse to comply with an instruction if this were to infringe the legislation or other rules, e.g. those on “good Attorney-at-Law practice”.

Conflicts

Before starting an assignment, Gangsted investigates whether there is any conflict of interests that may mean that Gangsted is precluded from representing the client.

Credit information

Gangsted is entitled to examine the client’s creditworthiness. This takes place by obtaining information from credit reference agencies or credit ratings, among others.

Confidentiality

Gangsted is subject to the duty of confidentiality in relation to the information received by Gangsted. This duty of confidentiality continues to apply after the assignment has been concluded.

The duty of confidentiality is subject to rules that impose the duty of information on Gangsted in relation to public authorities or other parties, including “laundering rules”.

Fees

On the basis of the scope and type of the concrete advice, Gangsted sets its fee against the background of the case’s economic and fundamental significance to the client, the responsibility that is linked with the case, the complexity of the case, the time used, the level of specialist knowledge and the result achieved. Gangsted would like to draw your attention to the fact that lawsuit fees will normally exceed the legal expenses awarded by the court when a case is won.

As a starting point, Gangsted settles on account at the end of each month and final settlement is in conjunction with the end of the case. Payment terms are 8 days, whereupon penalty interest may be calculated in accordance with the regulations of the Interest Act.

The duration of the assignment

Both the client and Gangsted may cancel the cooperation at any time. If Gangsted cancels the cooperation, this will take place subject to the rules on Attorney-at-Law ethics, which prescribe “that an Attorney-at-Law must not withdraw from a case in such a way and under such circumstances that the client is prevented from applying for other legal assistance at the right time and without suffering damage”.

Limitation of liability

Gangsted is liable for compensation in accordance with the general rules of Danish Law for any loss to which the advice may lead for the client, with the following limitations.

Gangsted’s liability does not cover liability for operating losses, loss of time, loss of profit, goodwill or similar indirect losses.

The following limitations also apply to Gangsted’s liability:

  1. Gangsted’s liability for advice in connection with the assignment cannot exceed DKK 20 million.
  2. The client can make a claim only against Gangsted and therefore not against the individual partner or other legal employees.

As a group of Danish Attorneys-at-Law, Gangsted offers advice only on Danish legal matters. If the assignment involves foreign legislation, Gangsted recommends that the client engage local Attorneys-at-Law. Gangsted’s involvement in such parts of the assignment shall not be considered to constitute advice on foreign legal matters.

Gangsted is not liable for advice offered by the client’s other advisers, including irrespective of whether such advisers are engaged with Gangsted’s assistance.

Archiving

Files will be archived for five years, counted from the end of the assignment, whereupon they will be destroyed.

Marketing

In its marketing, Gangsted may refer to the fact that Gangsted has acted as an Attorney-at-Law for the client in relation to the assignment when it has been concluded and is known to the public.

Applicable law and complaints

In the event of dissatisfaction with Gangsted’s advice or handling of the case in general, the client may contact either the Attorney-at-Law responsible or the chairperson of Gangsted’s board at any time.

Gangsted is subject to the rules on ethics for Attorneys-at-Law that are issued by the Danish Bar and Law Society. The client may bring complaints about conduct and/or the calculated fee before the Disciplinary Board (Advokatnævnet) of the Danish Bar and Law Society.

The rules on Ethics for Attorneys-at-Law can be found at www.advokatsamfundet.dk, and the Disciplinary Board’s contact information is:

Advokatnævnet
Kronprinsessegade 28
1306 København K
www.advokatsamfundet.dk/Advokatnaevnet.aspx

The European platform for online complaints (OTB-platform) is found here: https://webgate.ec.europa.eu/odr/main/index.cfm?event=main.home.show&lng=DA

Any disputes concerning Gangsted’s advice are subject to Danish Law and the exclusive competence of the Danish courts.

Specific regarding deposits into attorneys’ client bank accounts

Limitation of coverage:

  • From 1 June 2015, clients’ deposits into attorneys’ client bank accounts has been limited to EUR 100,000 per client.
  • Deposits made into a client account before 1 June 2015 retain the existing coverage until paid to the rightful recipient. Deposits must have been made before the date of commencement of the act. This provision is only relevant in case the deposits cannot be disbursed or transferred to the ultimate rightful recipient.
  • Deposits made into a client bank account on or after 1 June 2015 are thus not fully covered but only covered in accordance with the general rules providing coverage up to EUR 100,000 per client per bank.

In addition, a number of special deposits will be covered:

  • Deposits made in connection with transactions concerning real property (homes of private individuals) by up to EUR 10 million for up to 12 months from the date of deposit.
  • Deposits serving a special social purpose pursuant to the act by up to EUR 150,000 per depositor for up to six months from the date of deposit.
  • Deposits made by way of indemnification or compensation pursuant to the act for claims arising as a result of a criminal act or wrongful conviction by up to EUR 150,000 per depositor for up to six months from the date of deposit.
  • Pension savings accounts pursuant to the act are fully covered.
  • Clients (both legal and natural persons) having made deposits with the same bank (Jyske Bank A/S) as Gangsted’s client bank accounts will not have dual coverage.
  • It is important for the client to note whether Gangsted and the client use the same bank (Jyske Bank A/S).

Gangsted requests the client to state if the client uses the same bank as Gangsted and, if so, to specify the amount of the client’s deposit with the bank in order to clarify the scope of coverage.

Specific regarding payment of interest of deposits into attorneys’ client bank accounts, including negative interest

Gangsted pays interest of deposits into client bank accounts in accordance to the client account rules, which are available here (in Danish):

https://www.retsinformation.dk/Forms/R0710.aspx?id=170451

The above only applies if the interest rate is positive. If the interest rate is negative then Gangsted shall not be obligated to defray costs related to client bank accounts in the form of negative interest, and such costs will be calculated and the costs will be invoiced to the client.

Negative interest are calculated similar to positive interest: I.e. a total deposit of more than DKK 10,000 which is held on the client bank account for more than 14 days will be ascribed the applicable negative interest rate.

Interests are calculated and ascribed on the last business day of every month.

Gangsted Law Firm, 7 March 2018

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