Terms of business

Unless otherwise agreed in writing, these terms of business apply to all assignments undertaken by Reimer Legal.

All assignments will be performed in compliance with the provisions on lawyers set out in the Danish Administration of Justice Act and the Code of Conduct available on the Danish Bar and Law Society’s website www.advokatsamfundet.dk.

Assignments
Reimer Legal and the client will for every assignment agree on the scope of the legal advice to be provided, the involvement of and the nature of the services to be provided (if any) by the client or others and the deadlines applying to the assignment.

Client identification – money laundering
Reimer Legal is subject to the provisions of the Danish Act on Measures to Prevent Money Laundering and Financing of Terrorism and must therefore obtain and retain proof of the client’s identity. By submitting proof of identity, the client will be deemed to have consented to Reimer Legal disclosing this proof of identity to other advisers and financial institutions, etc., as required to allow compliance with their obligations pursuant to the above Act.

Conflicts of interest
Prior to an assignment, Reimer Legal will make a conflicts of interest check in accordance with the Code of Conduct of the Danish Bar and Law Society.

Fees – invoicing
Reimer Legal’s fees are based on an overall assessment of a number of elements such as: The scope of the work and time spent, including whether the assignment required work outside normal office hours, the importance of the matter to the client, the value added by the services provided by Reimer Legal, the liability involved in the work, the complexity of the matter, the degree of specialist knowledge required and the result achieved.

Reimer Legal will inform the client of the basis for the calculation of the fee or give the client a fee estimate. If the assignment turns out to be more extensive than assumed in the estimate, Reimer Legal will inform the client as quickly as possible that the fee must be expected to exceed the estimate and, if possible, about the revised estimate.

VAT will be added to the fee, unless special exceptions apply under current legislation.

The services of Reimer Legal will be invoiced quarterly in arrears or on completion of the individual assignment. Payment terms are eight days net from date of invoice. In case of late payment, interest may be charged in accordance with the provisions of the Danish Interest Act.

Client funds
All client funds paid to Reimer Legal will be held in accordance with the client account rules of the Danish Bar and Law Society and in a client account with our bank. Interest on the amounts will accrue to the client in accordance with the rules of the Danish Bar and Law Society.

Expenses
In addition to our fees, the client must pay for the expenses incurred by us in the course of our work, e.g. charges, court fees, reasonable travel and accommodation expenses, meals, extensive photocopying, postage and courier. A specification of such expenses will always be provided. Reimer Legal will notify the client of expected expenses and reserve the right to request prepayment.

Liability and insurance
Reimer Legal and our partners are liable in damages under the general rules of Danish law. The liability of Reimer Legal is, however, limited to a total of DKK 10,000,000 for each assignment.

Reimer Legal and our partners will have no liability for any consequential loss or other indirect loss, including loss of business, time, data, profits, goodwill, image, etc.

Reimer Legal and our partners will have no liability for any errors committed by external advisers to whom the client has been referred by Reimer Legal, nor will Reimer Legal and our partners have any liability for errors committed by sub-contractors engaged by Reimer Legal for the performance of part of an assignment with the prior consent of the client.

Reimer Legal has taken out professional indemnity insurance and provided a guarantee in accordance with the rules of the Danish Bar and Law Society. Reimer Legal’s professional indemnity insurance and the guarantee provided have been taken out with HDI-Gerling Forsikring.

Confidentiality and inside information
Reimer Legal undertakes to treat all information received from or about the client in confidence. Reimer Legal has policies and procedures in place for the handling of all confidential material.

Reimer Legal is subject to special rules set out in applicable Danish legislation prohibiting the disclosure of inside information on listed companies and restrictions in respect of trading in listed securities.

Intellectual property rights
The client will be granted all necessary rights to the written material prepared in the course of Reimer Legal’s performance of the assignment(s) on behalf of the client. However, all copyrights and other intellectual property rights in the material will be, and remain, the property of Reimer Legal. The client may use our material only in connection with the specific assignment and is not entitled to make such material available to any third party without our prior written consent.

Filing
Reimer Legal will keep all records and documents relating to an assignment on file for at least five years from completion. Unless otherwise agreed with the client, original documents will be returned on completion of our work.

Marketing
When an assignment has been completed by Reimer Legal and become known to the public, Reimer Legal will be entitled to use the assignment as a reference for marketing purposes.

Governing law and jurisdiction
Any advice rendered by Reimer Legal and these terms of business are subject to Danish law and the exclusive jurisdiction of the Danish courts.

If so agreed by Reimer Legal and the client, the parties will seek to settle any dispute by mediation. Danish Mediation Lawyers will be requested to appoint a mediator. If Reimer Legal and the client fail to agree on mediation, or if a mediation procedure already initiated is terminated without the dispute having been settled, the dispute may be brought before the District Court of Lyngby as the court of first instance.