Terms and Conditions for Kirk Larsen & Ascanius Commercial Law Firm

Unless otherwise agreed, Kirk Larsen & Ascanius’ terms and conditions are applicable to legal counselling and the services provided by Kirk Larsen & Ascanius to the client.

These terms and conditions shall apply to all tasks accepted by Kirk Larsen & Ascanius after 1 January 2018.  

  1. Performance of the task
     
    1. Kirk Larsen & Ascanius and the client agree on the legal counselling and the scope of each task on an ongoing basis, in addition to the participation and services of the client and other parties.
       
    2. Kirk Larsen & Ascanius undertakes to provide qualified legal counselling to the client delivered at the agreed time and at the agreed scope.
       
    3. All assignments are performed in accordance with the provisions of the Danish Administration of Justice Act (Retsplejeloven) concerning lawyers and other relevant legislation.
       
    4. Kirk Larsen & Ascanius stores all files in an (electronic) archive for a period of at least five years from the conclusion of the case. Original documents are returned no later than the time of conclusion of the case.
       
    5. The client receives the necessary rights to use the written material that Kirk Larsen & Ascanius delivers to the client in connection with the case, but Kirk Larsen & Ascanius has, and retains, all copyright and other intellectual property rights to the material.
       
  2. Fee, invoicing and client funds
     
    1. Kirk Larsen & Ascanius determines the fee based on several different parameters. The amount of time consumed, the nature of the involved lawyers’ specialist knowledge and experience, the complexity of the case and its importance/value to the client, the assets involved, the result achieved and liability associated with the solution of the task are all taken into account. In actual cases the parties can enter into a special agreement concerning the fee, for example based on “no cure, no pay” principles.
       
    2. Our fee is exclusive of relevant costs and expenses.
       
    3. It can be difficult to determine a fee on receipt of an assignment. If requested, however, we are prepared to provide information as to how the fee will be calculated, or a substantiated estimate and information concerning the expected costs and expenses, in addition to which we will notify the client should it subsequently be expected that the total fee will exceed the estimate.
       
    4. Normally Kirk Larsen & Ascanius invoices one month in arrears. As a point of departure, however, prepayment of major external costs is required, in addition to which, depending on the nature of the assignment, prepayment is required in connection with the commencement of the assignment and when it is otherwise deemed appropriate.
       
    5. Terms of payment are 10 days net from the invoice date. In the event of late payment, interest is calculated in accordance with the provisions of Danish legislation concerning the late payment of commercial debts (Renteloven).
  3. Client account

    1. All client money placed with Kirk Larsen & Ascanius ¦|are administered according to the rules and regulations of the Danish Bar and Law Society and are deposited at client accounts. Added interests fall to the client in accordance with the rules and regulations of the Danish Bar and Law Society.

    2. Without written instructions from the client, Kirk Larsen & Ascanius is entitled to deposit the client’s funds freely at a client account with a bank of the choice of Kirk Larsen & Ascanius.

    3. Kirk Larsen & Ascanius has established head client accounts with a number of commercial banks and savings banks including Danske Bank, Sydbank, Nordea, Skjern Bank and Nykredit Bank.

    4. Kirk Larsen & Ascanius does not advice on the risk in connection with deposits with the individual banks, and Kirk Larsen & Ascanius does not assume liability and responsibility for the client’s possible loss of funds deposited with the client accounts of Kirk Larsen & Ascanius.

    5. The funds are covered by Garantiformuen http://www.gii.dk/.

    6. The client must be aware of the fact that all funds deposited at the client accounts of Kirk Larsen & Ascanius are only covered with a maximum amount of EUR 100,000 if a commercial bank and savings bank should become in distress.

    7. If the deposit on a client account relates to a transaction regarding a real estate property, which is mainly used for private relations, the cover of the Garantifonden is maximum EUR 10,000,000.

    8. The coverage apply to the clients total deposit with the individual bank, and thus not only to the clients deposit with the client account of Kirk Larsen & Ascanius.

    9. It is the responsibility of the client to ensure, that the funds deposited with Kirk Larsen & Ascanius are deposited at a client account with a bank other than the client’s usual bank, if the clients total deposit will exceed EUR 100,000. The client may contact the partner responsible for the case in order to be informed of the name of the bank, where the funds are deposited.

    10. Kirk Larsen & Ascanius have client accounts with a number of banks, and the client is advised to contact Kirk Larsen & Ascanius with regards to where possible funds are deposited.
       

  4. Danish Anti-Money Laundering Act.

    1. Kirk Larsen & Ascanius is subject to the Danish law on money landering according to which we are obliged to colletc and keep identity information on our clienst. The clients herby (consent to Kirk Larsen & Ascanius being entitled to transfer this information to a third party, who is subject to the same rules.  
       

  5. Confidentiality and insider rules

    1. All employees at Kirk Larsen & Ascanius are subject to client confidentiality. All information from or concerning a client at Kirk Larsen & Ascanius which becomes known to us in connection with an assignment is of course treated in the strictest confidence unless it is apparent from the circumstances that the information is not of a confidential nature.

    2. Everyone at Kirk Larsen & Ascanius is subject to applicable legislation concerning the prohibition of disclosure of internal knowledge on listed companies and restrictions on transactions with listed securities.
       
  6. Liability, limitation of liability and insurance
     
    1. Kirk Larsen & Ascanius is liable for the counselling provided pursuant to the general rules of Danish law, and professional indemnity insurance has been taken out with a recognised insurance company.
       
    2. For Kirk Larsen & Ascanius, its partners and employees, liability is, however, limited to a maximum sum of DKK 10 million per assignment, although such that the total indemnity which a single client is entitled to receive may not exceed DKK 15 million with respect to all claims that the client can demand within a calendar year.
       
    3. Kirk Larsen & Ascanius and its partners and employees are not liable for indirect losses or consequential losses, including business interruption, loss of data, loss of profits, goodwill, image, etc.
       
  7. Applicable law and disputes
     
    1. Kirk Larsen & Ascanius’ counselling services and these terms and conditions are governed by Danish law.
       
    2. Any disputes may only be brought before the Danish courts.
       
    3. Clients may file a complaint to the Disciplinary Board of the Danish Bar and Law Society (Advokatnævnet) at the address Kronprinsessegade 28, DK-1306 Copenhagen K, or by email to klagesagsafdelingen@advokatsamfundet.dk. A claim may concern the fee or conduct of a lawyer.
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