Bonum’s Terms of Business

These terms of business apply to all engagements of Bonum unless otherwise has been agreed with the client (the “Client”).

Engagement

Bonum offers legal advice within the scope agreed with the Client.

Instructions

Bonum acts in accordance with the Client’s instructions. We retain the right to refuse to act upon an instruction that would be unlawful or breach other rules, such as the Danish lawyers’ code of conduct.

Communication

Bonum cannot warrant that confidentiality is maintained when communicating externally, including by way of e-mail or fax.

Conflicts of Interest

Before initiation of the assignment, Bonum will investigate whether the assignment gives rise to any conflicts of interest, which could preclude Bonum from representing the Client. All relevant matters are considered and discussed with the Client, before the actual case handling is initiated.

Subject to the prevailing rules on conflicts of interest, the assignment does not prevent Bonum from advising other companies within the same line of business as that of the Client.

The Client is informed that Thomas Tofte Hansen, partner and attorney at Bonum, also is a partner at Tofte & Co that provides services within corporate finance and fund raising.

Credit Information

Bonum is entitled to check the Client’s creditworthiness. This is done by gathering information from credit reference agencies, including payment remarks and credit ratings.

Confidentiality

All information received by Bonum is subject to a duty of confidentiality. Such duty of confidentiality also applies after completion of the assignment.

The duty of confidentiality applies subject to rules, which impose a duty to disclose on Bonum vis-à-vis public authorities or others, including the “money laundering rules”.

Attorneys Involved

One or several partners will be devoted to each assignment, hence being the Client’s primary contact(s). The partner responsible for the case will decide whether to involve other partners, attorneys, etc.

Fees

Bonum’s fees are calculated based upon the use of resources and on the value added by the services and advice rendered. It will be an overall valuation taking into account e.g. the following elements:

The time spent, the need for specialist skills, the complexity of the work, whether the Engagement has necessitated work under considerable time pressure or outside normal business hours, the Client’s interest in the engagement, the liability involved in the engagement, and the results achieved.

The fees are subject to VAT, unless otherwise provided by applicable law.

Terms of payment 14 days, after which time default interest may be charged as prescribed in the Danish Interest rates Act (renteloven).

Payment of Expenses

Bonum is not obliged to pay disbursements on the Client’s behalf.

Expenses defrayed in connection with e.g. extensive photocopying assignments and travelling are charged to the Client.

Duration

Both the Client and Bonum may terminate the assignment at any time. Termination by Bonum is effected in accordance with the Code of Conduct stipulating that an attorney may not resign from a case in such way and in such circumstances that the client is precluded from seeking other legal assistance in due time and without adverse effects.

If the engagement is terminated prior to its ordinary completion, Bonum will be entitled to payment of fees and expenses for the period until such termination.

Limitation of Liability

Bonum is liable for damages in accordance with the general rules of Danish law for any loss that our Client may suffer as a result of our services with the below limitations.

Bonum is not liable for any loss on operations, loss of time, profits, goodwill or any similar indirect losses. In addition, the following limitations of Bonum’s liability will apply:

I. Bonum’s liability for services and advice rendered in connection with the engagement is limited to a maximum of DKK 2.5 million.
II. In the event of a claim by the Client, the Client may raise such claim against Bonum only and not against an individual partner or lawyer.

As Danish lawyers, Bonum advises on Danish law only. If the Engagement involves foreign law, Bonum recommends that local lawyers be engaged by the Client. Any involvement of Bonum in such non-Danish legal matters related to the Engagement shall not be considered to amount to advice on non-Danish legal matters.

Bonum assumes no liability for advice and services rendered by other advisers to the Client, irrespective of such advisers having been engaged with the assistance of Bonum.

Storage of Files

All case documents are kept for three years after completion of the assignment, and subsequent hereto, the documents are shredded.

Marketing

We reserve the right to refer to this engagement in the marketing of Bonum, once the engagement has been completed and is publicly known.

Choice of Law and Disputes

In case of dissatisfaction with Bonum’s advice or general treatment of the case, the Client may at any time contact either the partner responsible, or our Managing Partner.

Bonum is subject to the Code of Conduct laid down by the Danish Bar and Law Society. It is possible for the Client to file a complaint about our services and the fee charged with the General Council of the Danish Bar and Law Society/the Disciplinary Board of the Danish Bar and Law Society. The Code of Conduct is available at www.advokatsamfundet.dk.


Any dispute about Bonum’s advice is subject to Danish legislation and the exclusive jurisdiction of the Danish Courts.


Client Information

Under clause 3.3 of the Danish Bar and Law Society’s Code of Conduct, the following information is required to be given to clients.

All Danish Bonum lawyers are admitted to practice law by the Danish Ministry of Justice and are registered with and members of the Danish Bar and Law Society.

Contact information:

Bonum Advokatanpartsselskab
Veras Allé 5
DK-2720 Vanløse
Denmark
E-mail: tth@bonumlaw.com
Call: +45 26 73 21 61
Company registration no. 35483179

Insurance

Bonum is covered by professional liability insurance and has provided a guarantee in accordance with the rules of the Danish Bar and Law Society. Our liability insurance covers any legal practice, regardless of where the practice is being conducted. Bonum’s liability insurance and guarantee have been taken out with HDI-Gerling Forsikring Indiakaj 6, 1.sal, DK-2100 Copenhagen.

Governing Law and Jurisdiction

Any dispute about Bonum’s advice is subject to Danish law and the exclusive jurisdiction of the Danish Courts.

Public and Insurance Covered Legal Aid

When Bonum accepts a matter for a client, we determine whether public and insurance covered legal aid is available under applicable law or the client’s insurance. If our fee is to be paid out of public funds or by an insurance company, preliminarily or finally, the client will be advised of the principles for determining the fee, etc. and of the potential consequences for the client.

Code of Conduct

All Danish lawyers are subject to the legal ethics rules contained in the Danish Admini-stration of Justice Act (retsplejeloven). The General Council of the Danish Bar and Law Society supervises compliance with the code of legal ethics and has drawn up a Code of Conduct requiring lawyers to comply with high professional and ethical standards. The Disciplinary Board of the Danish Bar and Law Society ensures compliance with the rules and may impose disciplinary sanctions in case of violation.

The ethical professional conduct rules include:

  • Non-disclosure obligations: Lawyers and their employees are required to treat information received in the course of their work confidentially.
  • Conflicts of interest rules: Circumstances of conflicting interests in which a lawyer may not assist a client.

More information about the Code of Conduct and the General Council is available on the Danish Bar and Law Society’s website. More information about ethical professional conduct, rights to complain, etc. is available on the Disciplinary Board’s website.

Prohibition against Insider Dealing

All Bonum staff are subject to internal rules that satisfy the requirements of the Danish Securities Trading Act (lov om værdipapirhandel) on prohibition against disclosure of insider information regarding listed companies and on restrictions on trading in listed securities.

Preventive Anti-money Laundering Measures

Bonum is also subject to the Danish Act containing anti-money laundering and anti-terrorism financing measures (lov om forebyggende foranstaltninger mod hvidvaskning af penge og finansiering af terrorisme). Under the Act, Bonum is required to obtain and keep client identification records for five years. Clients are required to provide their name, address and civil registration (CPR) number or Central Business Register (CVR) number when a new matter is opened and also, where necessary, documentation. Businesses also have to provide ownership information and documentation.

Under the anti-money laundering and anti-terrorism financing measures Act, Bonum is required to investigate transactions where there is suspicion of money laundering or financing of terrorism. Bonum may also be obliged to notify the Public Prosecutor for Serious Economic Crime or the Danish Bar and Law Society.


Payment Information

Danske Bank
Holmens Kanal 2-12
DK-1092 Copenhagen

Transfers from Denmark
(Operational – state invoice no.)
Reg.no.: 3409
Accnt.no.: 11731708

(Client – state name or case no.)
Reg.no.: 3409
Accnt.no.: 3409436145

Transfers from abroad
(Operational – state invoice no.)
IBAN: DK6730000011731708
BIC/SWIFT: DABADKKK

(Client – state name or case no.)
IBAN: DK2530003409436145
BIC/SWIFT: DABADKKK

Our company reg.no. (VAT no.): 35483179