Unless otherwise agreed in writing, the present business terms shall apply to any assignment undertaken by Plesner.
1 Conflict of interest or of loyalty
In accordance with the rules of the Danish Bar and Law Society and our procedures as to impartiality we ensure that no conflict of interest or of loyalty exists before we finally undertake/accept an assignment. If subsequently a conflict of interest or impartiality should arise, causing us to discontinue our work, we shall be pleased to recommend another law firm.
2 Identity information and money laundering
Like other law firms Plesner is comprised by the Danish Act on Measures to Prevent Money Laundering. Accordingly, we are obliged to obtain and keep identity information on any client.
3 Fees and payment
Legal fees are based on various parameters, such as the time spent, the expertise and experience of the attorneys involved, the complexity of the assignment and its importance to the client, the values involved, the outcome of the assignment and the liability exposure. Our fees are exclusive of relevant costs and disbursements.
It can be very difficult to estimate the fees upon receipt of the assignment. However, upon request – and always to consumers – we provide an estimate of and information regarding the expected fees, costs and disbursements, and we will inform the client as early as possible in the event that the total fees are likely to exceed the estimate.
We usually invoice the client, when the assignment has been completed. Continuous assistance and assignments of long duration are invoiced at regular intervals, typically monthly or quarterly, unless otherwise agreed. The terms of payment are two weeks of the date of in-voice, and VAT is added pursuant to applicable rules.
In general, we ask for prepayment of disbursements and costs – and in rare cases for prepayment of fees.
Prepaid fees, disbursements or costs are paid into our client account, and the amount inclusive of any interest accrued may be used to settle future invoices, disbursements and costs, unless otherwise agreed.
6 Disbursements and costs
Disbursements and relevant costs in connection with the assistance (provided) are charged separately to the client.
7 Client Funds
Plesner handles funds held on behalf of clients ("Client Funds") in compliance with applicable law. In accordance with such regulations Client Funds are deposited on separate accounts with recognized Danish banks and any and all interest thereon accrue for the credit of the relevant client. Client Funds are protected by the Act on Guarantee Scheme for Depositors and Investors (Lov om indskyder- og investorgarantiordning) which protection with effect from 1 June, 2015 has been made subject to a general maximum of EUR 100,000 per client in respect of each deposit bank. Plesner is not liable for any loss of Client Funds which may result from the insolvency of any bank with which Client Funds are deposited.
All employees with Plesner are subject to professional secrecy. Any information from or regarding clients which we receive in connection with an assignment is treated as confidential, unless it appears from the circumstances that the information is non-confidential.
9 Insider trading
Furthermore, all Plesner employees are comprised by the applicable legislation on the prohibition against exchange of inside information on listed companies and restrictions on trade in listed securities as well as by Plesner's internal rules. Plesner has established internal procedures to prevent insider trading.
10 Use of our advice
Our advice is targeted at each individual assignment and is accordingly not to be used for any other purpose without our explicit prior consent. Unless otherwise agreed, we are only liable to the client for the assistance provided.
11 Completion of the assignment
Plesner completes the assignment, unless the client requests the assistance to be terminated beforehand. However, we reserve the right to discontinue our assistance immediately if the credit period of our invoices, despite reminders, has been exceeded considerably, or if the client becomes insolvent. We also reserve the right to withdraw from a matter if, in exceptional cases, we find that we cannot be responsible for handling the case or if we believe that it is in the interest of the client that our cooperation is terminated.
Original documents are usually surrendered no later than upon completion of the assignment, and we keep the files for at least five years from the date of invoice.
Plesner is subject to the general rules on complaints of the Danish Bar and Law Society.
If the client is not satisfied with our assistance or fees, the client will be asked to contact the partner in charge of the matter or the partner responsible for the client relation. If the client and the partner in charge of the matter or the client responsible partner are unable to solve the issue, the general manager of Plesner will be involved to ensure that the complaint is processed according to internal procedures, which imply that the assessment of one or more other experienced partners not involved in the matter is obtained in order to solve the matter amicably.
13 Law and venue
Any dispute between a client and Plesner shall be subject to Danish law and the jurisdiction of Danish courts.
14 Liability, limitation of liability and insurance cover
Plesner is liable for our advice to clients in accordance with the general rules of Danish law, and we are insured against third-party risks with a wellesteemed insurance company.
Our liability is, however, limited to a maximum of DKK 50 million per assignment. The compensation to a client cannot, however, exceed DKK 100 million for claims advanced or increased within the same or the immediately following calendar year. Our liability does not comprise financial consequential losses, including, but not limited to, operating loss, loss of data, lost earnings, goodwill, image, etc., or any other indirect loss.