Here you can acquaint yourself with the terms of doing business when partnering with us. Those terms and conditions are not end in itself but born and based on best practices and experience. They are here to give you an overview where our negotiations normally start and what are the main principles, which we follow when we accept an assignment.

Introduction

A letter of engagement signed by the managing partners in charge of your concern may vary or override any of these terms. By contracting us, you agree to be bound by these terms.

Fees

Our fees are based and fully aligned with the Bulgarian Law, taking into account the importance and urgency of the matter, its complexity and the outcome. We normally charge an hourly rate that is set in accordance with the specific of the business area and the individual experience of the consultants.

Our final professional remuneration will be based on the time spent on the case. The charges for particularly complex situations will be discussed and agreed with the client.

If a transaction or other integrated part of the case is terminated, our fees will still be payable by you. Unless other is agreed in writing, estimations are provided only as a preliminary information and should not be regarded as a firm quotation.

The following expenses will be added to our professional fee:

– Office expenses, telephone and fax costs, postage and special couriers when done on behalf of the client

– Disbursements (amounts we pay on your behalf) such as additional state fees or taxes

– Specific expenses, such as traveling and translation costs if needed

Payment terms

Our standard arrangement is to prepare interim statements of fees and expenses periodically to cover the work we have performed on the case and disbursements we have made on your behalf during the period. We will also send you a final statement of fees and expenses when the work is completed. Our statements of fees and expenses are payable upon receipt.

As our client you are the person responsible for the payment unless we have agreed otherwise in writing.

If our statements are not discharged within one month of the date thereof, interest will be charged as provided for by Directive 2000/35/EC of the European Parliament and of the Council of 29 June 2000 on combating late payments in commercial transactions.

After we have sent you a statement of fees and expenses, we may deduct the amount due from any monies we hold, or may in the future receive, on your behalf within one month of the date of the statement unless we have received payment during that period.

We reserve the right to ask you to pay one or several fee installments in advance, both at the start of our engagement and as the case progresses. If you fail to pay such fee installments, we may hold our work on your behalf and charge you for any work already done.

 

Conflict of interest

Before accepting your instructions, we will make reasonable verifications that there is no commercial conflict of interest that prevents us from operating for you.

If a conflict arises while we are acting for you, we will contact you to discuss how to proceed. We will use all reasonable endeavors in order to ensure that we act and operate in your interests.

Professional secrecy

We are obliged by strict professional secrecy rules, which we accept as an integral part of our service.

Accordingly, we will treat all information about your business and affairs as strictly confidential (unless we are required to disclose any information by law or by agreement with you).

Limitation of liability

All liability to you in respect of breaking of contract or breaking of duty or negligence or otherwise arising out of or in connection with our engagement or the services we provide shall be limited to the amount paid out.

We shall, as far as possible, discuss with you before engaging third parties, and shall in any situation exercise the reasonable due care in selecting and contracting such third parties. We will not be liable for any acts or omissions of third parties.

You authorize us to accept any limitations of liability of third parties on your behalf.

There is no joint liability between us and our partners. Your recourse shall be limited to the partner in charge of your case.

Communications

We will communicate with you by e-mail, post, fax or telephone. Unless you notify us otherwise in writing, we will assume that you are satisfied for us to communicate by e-mail or fax, although we cannot guarantee the security or confidentiality of such communications.

It is your responsibility to ensure that communications to the fax number or e-mail address you provide us are secure. Our advice and deliverables will be final and binding only when is signed by one of our partners and delivered to you by post, fax or email in PDF format.

Records

We are registered according the Bulgarian Law for protection of the private data as  a private data operator and we are entitled  to retain your  papers and documents  until all amounts due or accrued have been discharged.

When we have sent our final statement of fees and expenses, we will retain your file of papers (except for any of your papers which you ask to be returned to you) for 5 (five) years. After this period, we may destroy your file.

Governing law and jurisdiction

Our relationship with you is governed by Bulgarian legislation system and subject to the exclusive jurisdiction of the courts of the Bulgarian state.

Money laundering regulations

The Bulgarian money laundering legislation oblige us to obtain sufficient knowledge of clients, their identity, their business and the nature of funds that pass through our accounts.

The rules also enforce us, under certain conditions, to report any suspicious activity where we know or suspect that money or property is the subject of money laundering. In case that we have such suspicion, our obligation to report to the authorities will prevail. This legal duty overrides any duty of secrecy that we owe you as our client.

We cannot accept any liability for loss caused as a result of any disclosure to the authorities.

Data protection

You herewith authorize and empower us to collect, store and process your personal information required to enable us to provide the services required and to comply with our legal obligations. We oblige not to transfer your data to any third parties, except if required by law or authorized by you.

You have the right to access your personal data and you may ask for a correction if data is inaccurate or incomplete.

We will keep your data for as long as required for the provision of our services to you, subject to the legal period of limitation.



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