TERMS OF BUSINESS

1. Scope of Terms & Conditions

1.1 LOU Advokatfirma operates at the following addresses: Nytorv 17, 2. sal., 1450 Copenhagen K – Søndergade 44, 3., 8000 Aarhus C – Østergrave 4, 1., 8900 Randers C – Gothersgade 2, 8800 Viborg – Horsøvej 16, 9500 Hobro.

We may be contacted by telephone on +45 70 300 500 and by fax number +45 70 300 501 and by e-mail info@louadvokatfirma.dk.

Our corporate identification no. is 3527 2348.

LOU Advokatfirma is organized as a partnership.

The lawyers at LOU Advokatfirma are all appointed by the Ministry of Justice in Denmark and are members of the Danish Bar Association.

1.2 The general terms and conditions of services rendered apply to all legal tasks performed by LOU Advokatfirma for the Client unless the Client has entered into a separate written agreement for the particular assignment with the law firm.

2.  Undertaking of legal services

2.1 LOU Advokatfirma and the client shall agree upon the legal assistance required and the scope of each case, and upon the participation of and services to be provided by the client and other parties.

2.2  LOU Advokatfirma undertakes to provide the client with qualified legal assistance, to be delivered by the time and to the extent agreed upon.

2.3 LOU Advokatfirma, including the firm’s partners and employees, will perform all work in accordance with the requirements for conduct and ethics in the Administration of Justice Act and the rules of the Danish Bar and Law Society.

2.4  LOU Advokatfirma is subject to the rules of the Money Laundering Act and is therefore obliged to collect and store information on client identity.

LOU Advokatfirma is entitled to request personal identification from the client at any time as needed in order to observe the rules on money laundering, including identification from personnel empowered to bind the company by their signatures or others acting on behalf of companies, associations, foundations, etc.

2.5  LOU Advokatfirma will store all case documents in an archive for at least five years from the conclusion of the case. The original documents will be returned as soon as the case has been concluded.

2.6  The client has the necessary rights to use any written materials supplied by LOU Advokatfirma to the client in relation to the case, but LOU Advokatfirma owns and retains all copyrights and other immaterial rights to these materials.

 

3. Fees, invoicing and client funds

3.1  LOU Advokatfirma determines its fees based on the scope of work, including work outside normal business hours; the interest the case represents for the client; the value of LOU Advokatfirma’s services; the liability related to the work; the complexity of the case; the degree of specialist knowledge required; and the results achieved. We can request that the client pay a deposit for our fees.

3.2  In addition to fees, the client is responsible for paying work-related costs and expenses, including reasonable travel and accommodation expenses, subsistence, major copying and carriage costs, and external transmission expenses.

3.2.2  In connection with the completion of property transactions, the client will be charged for legal assistance given to the other party to the transaction if that party does not have digital signature and we therefore have to obtain registration authorization, etc.

3.3  In connection with the start of work on the client’s behalf, the client will be advised of the size of the fee upon request if the nature of the case permits it. If the fee cannot be estimated, the client will be informed how it will be calculated (e.g., the hourly rates used). In consumer matters, the client will be given details of the fee before work commences.

3.4  LOU Advokatfirma usually invoices quarterly for work performed. However, advance payment is generally required if large external costs are involved.

3.5  Terms of payment are 14 days net from the date of invoice. In the event of late payment, interest will be applied in accordance with the Late Payment Interest Act. The invoice amount is payable without regard to local taxes in the country in which the client is resident.

 

4.  Confidentiality, legal capacity, and insider rules

4.1  LOU Advokatfirma is obligated to treat all details received from or about the client as confidential. All LOU Advokatfirma personnel are subject to expanded duty of confidentiality. In addition, LOU Advokatfirma applies its own security procedures for handling confidential material.

4.2  All LOU Advokatfirma personnel are subject to special rules in accordance with laws forbidding the disclosure of internal knowledge of stock exchange-listed companies and restrictions on the trading of stock exchange-listed securities.

4.3  LOU Advokatfirma has implemented special rules and procedures designed to prevent conflicts of interest upon acceptance of a case and to manage such conflicts as may arise during the course of a case. Where potential conflicts of interest are deemed to exist or have the possibility of arising, the client will be informed immediately and advised to seek legal assistance elsewhere.

 

5.  Liability, limitation of liability, and insurance

5.1  LOU Advokatfirma is liable for the advice it provides, in accordance with the general rules of Danish law.

5.2  However, such liability for LOU Advokatfirma and its partners and employees is limited to a maximum amount of DKK 50 million per case, such that the total amount of compensation that a single client is entitled to receive cannot exceed DKK 50 million for all claims raised by a client in a single calendar year.

5.3  LOU Advokatfirma and its partners and employees cannot be held liable for indirect loss or consequential loss, including operational loss or loss of data, profit, goodwill, reputation, etc.

5.4  LOU Advokatfirma’s partners and employees cannot be held liable for any errors made by consultants whom the firm has referred the client to. Neither can LOU Advokatfirma and its partners and employees be held liable for any errors made by subcontractors that LOU Advokatfirma has, by agreement with the client, subcontracted part of a case to.

5.5  LOU Advokatfirma has taken out liability insurance with a reputable insurance company.

 

6.   Governing law and jurisdiction

6.1  LOU Advokatfirma’s legal advice and terms of business are subject to Danish law.

6.2  Any disputes can only be brought before Danish courts.

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