Advokat J. Korsø Jensen (H)
Sankt Annæ Plads 13
DK-1250 København K
Denmark
CVR no: DK37340332
Tel: +45 4030 3637
[email protected]
The firm J. Korsø Jensen is a Danish law firm (the Firm) undertaken by J. Korsø Jensen, appointed by the Danish Ministry of Justice (Justitsministeriet) and a member of the Danish Bar and Law Society (Advokatsamfundet).
1. Insurance
1.1.1 The Firm has taken out a professional liability insurance and provided a guarantee in accordance with the rules of the Danish Bar and Law Society with the insurance company Codan Forsikring A/S, 60 Gammel Kongevej, DK 1790 Copenhagen V.
2. Anti-money-laundering regulations
2.1.1 The Firm is subject to the obligations following from the provisions of the Act on Anti-money Laundering and Combating the Financing of Terrorism (“the Anti-Money Laundering Act” (the Act)). and has thus adopted internal rules in relation hereto. The Act requires that the Firm obtains information in respect of the identity of all clients.
If the matter to be undertaken by the Firm on behalf of the client is subject to the Act the Firm is obliged to inform the client in accordance herewith and to obtain and maintain information in respect of the client’s identity and if the Firm suspects that money laundering or financing of terrorism is taking place, the Firm is obliged to notify the Public Prosecutor for Serious Economic or International Crime (SØIK) in respect thereof and furthermore to provide SØIK with the identity information of the client and the Firm is not entitled to inform the client of such notification.
2.1.2 Accordingly, the Firm requests to obtain the following information:
Individual clients must provide their name, address and civil registration number. As proof of identity client must submit a copy of the client’s passport or driver’s license.
Companies and other legal entities must provide their CVR number (company registration number), legal form, the names of the management, the rules governing the power to bind the company, the names of the owners and the name, address and civil registration number of the physical individuals who ultimately control the legal entity.
2.1.3 According to the Act the Firm is prohibited to carry out any matter for a client before the Firm has received the required identity information.
2.1.4 In accordance with the Act, identity information must be in the possession of the Firm for a minimum of five years after the relationship with the client has ended.
3. Business Terms and conditions
3.1 General
3.1.1 The Firm’s business terms and conditions stated below shall apply, to any task that the client may ask the Firm to undertake, unless otherwise agreed in writing.
3.2 Opening of a matter
3.2.1 The Firm shall as soon as possible confirm and acknowledge receipt of a matter and describe to the client a summary of the task to be performed, if necessary, or if requested by the client.
3.2.2 Subject to the provisions of the Danish Bar and Law Society and the internal procedures established by the Firm in respect of identification of conflicts of interest, if any, the Firm shall undertake that no such conflict of interest or incapacity exists when opening a matter.
3.3 Conduct
3.3.1 The Firm will conduct all matters in compliance with the provisions of the Danish Administration of Justice Act on the practice of law and other relevant legislation. In addition, all matter will be conducted by the Firm in compliance with the ethical rules of the Danish Bar and Law Society.
3.3.2 The scope of the legal assistance requested by the client in relation to a matter shall be agreed on a regular basis, and the Firm will undertake to provide the client with qualified, legal advice, and provide the agreed services in due in due course.
3.3.3 The ethical rules applicable to Danish lawyers and the Danish Bar and Law Society is stated on the Website: www.advokatsamfundet.dk.
3.4 Fee
3.4.1 The Firm shall endeavor to carry out any matter at a fee that is commensurate to the performance for carrying out the task undertaken. In connection with this the Firm shall endeavor to conduct the matter at an appropriate level.
3.4.2 The Firm shall, unless otherwise agreed, determine the fee, based on the number of hours undertaken in order to carry out the matter. The size of the hourly rate depends, among other things, on the seniority and expert knowledge possessed by the attorney(s) in conduct of the matter. Apart from the number of hours undertaken, the calculation of the fee will also include other elements, including the scope of necessary expert knowledge, the value involved in respect of the matter, the importance of the matter to the client, the complexity, the result achieved, and the responsibility associated with the case.
3.4.3 The Firm will endeavor to resolve all matters against payment of a consideration in the form of a fee, which is commensurate to the Firm’s performance and the value of the matter, however, in relation to matters representing minor value there may be matters where the fee will not be commensurate to the value of the matter.
3.4.4 Upon request, the client will be informed of the expected fee in connection with the commencement of a matter, if it is possible to estimate such fee, taking the nature of the matter into account. If it is not possible to estimate the fee, the client will be informed of the applicable fee calculation principles.
In matters pertaining to consumers, the client will receive adequate details in respect of the fee prior to the commencement of the matter.
3.4.5 Any necessary costs and disbursements undertaken by the Firm in connection with a matter is payable by the client in addition to the fee. However, general administrative assistance is included in the fee.
3.4.6 The Firm is subject to the surveillance and disciplinary system and the ethical rules administered by the Danish Bar and Law Society and stated on the Website: www.advokatsamfundet.dk.
3.4.7 In the event of a dispute between the client and the Firm in respect of a fee invoiced by the Firm and/or the performance of the Firm, the client is in respect of the size of the fee and/or the Firms performance entitled to submit a complaint to Advokatnævnet, 28, Kronprinssessegade, DK 1306 Copenhagen K (www.advokatnaevnet.dk).
3.5 Terms of payment
3.5.1 In general, the Firm will invoice the client when the matter is completed or with intervals agreed in advance with the client. However, at any time the Firm shall be entitled to settle long-term matters on account.
3.5.2 Payment terms are 14 days from the date of the invoice. In case of late payment, the Firm shall be entitled to charge interest according to the provisions of the Danish Act on Interest in force at any time. Applicable VAT will be added to the fee according to the VAT legislation.
3.6 Confidentiality and insider trading
3.6.1 The Firm will undertake that all information, which is not available to the general public, is kept strictly confidential. The Firm is obliged to observe professional secrecy, and separate safety procedures pertaining to confidential information and materials have been adopted.
3.6.2 The Firm is subject to the current legislation pertaining to non-disclosure of internal information in respect of listed companies and the current restrictions on trading in listed securities.
3.6.3 The Firm has adopted rules and procedures to prevent insider trading.
3.7 Liability, limitation of liability and liability coverage
3.7.1 The Firm shall be liable in respect of any professional advice provided to the client, however solely in accordance with the general rules of Danish law.
3.7.2 The liability of the Firm is limited to a maximum of DKK 20 million for each assignment and matter. However, compensation to a client cannot exceed DKK 20 million for claims presented within the same calendar year and the immediately subsequent year.
3.7.3 The liability of the Firm shall only cover direct financial losses, which do not include consequential losses of any kind, including business interruption, loss of data, loss of profit, goodwill, image etc. or other forms of indirect losses.
3.7.4 The Firm has out an insurance against professional liability risks, and has provided a guarantee in accordance with the rules of the Danish Bar and Law Society with Codan Forsikring A/S, Gammel Kongevej 60, DK-1790 Copenhagen V.
3.7.5 The Firm 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 the Firm.
3.8 Choice of law and venue
3.8.1 Any dispute between the Firm and a client shall be settled solely in accordance with Danish law, and the sole and exclusive venue for such dispute shall be the Danish courts.
Copenhagen, October 12, 2018
Sankt Annæ Plads 13
DK-1250 København K
Denmark
CVR no: DK37340332
Tel: +45 4030 3637
[email protected]
The firm J. Korsø Jensen is a Danish law firm (the Firm) undertaken by J. Korsø Jensen, appointed by the Danish Ministry of Justice (Justitsministeriet) and a member of the Danish Bar and Law Society (Advokatsamfundet).
1. Insurance
1.1.1 The Firm has taken out a professional liability insurance and provided a guarantee in accordance with the rules of the Danish Bar and Law Society with the insurance company Codan Forsikring A/S, 60 Gammel Kongevej, DK 1790 Copenhagen V.
2. Anti-money-laundering regulations
2.1.1 The Firm is subject to the obligations following from the provisions of the Act on Anti-money Laundering and Combating the Financing of Terrorism (“the Anti-Money Laundering Act” (the Act)). and has thus adopted internal rules in relation hereto. The Act requires that the Firm obtains information in respect of the identity of all clients.
If the matter to be undertaken by the Firm on behalf of the client is subject to the Act the Firm is obliged to inform the client in accordance herewith and to obtain and maintain information in respect of the client’s identity and if the Firm suspects that money laundering or financing of terrorism is taking place, the Firm is obliged to notify the Public Prosecutor for Serious Economic or International Crime (SØIK) in respect thereof and furthermore to provide SØIK with the identity information of the client and the Firm is not entitled to inform the client of such notification.
2.1.2 Accordingly, the Firm requests to obtain the following information:
Individual clients must provide their name, address and civil registration number. As proof of identity client must submit a copy of the client’s passport or driver’s license.
Companies and other legal entities must provide their CVR number (company registration number), legal form, the names of the management, the rules governing the power to bind the company, the names of the owners and the name, address and civil registration number of the physical individuals who ultimately control the legal entity.
2.1.3 According to the Act the Firm is prohibited to carry out any matter for a client before the Firm has received the required identity information.
2.1.4 In accordance with the Act, identity information must be in the possession of the Firm for a minimum of five years after the relationship with the client has ended.
3. Business Terms and conditions
3.1 General
3.1.1 The Firm’s business terms and conditions stated below shall apply, to any task that the client may ask the Firm to undertake, unless otherwise agreed in writing.
3.2 Opening of a matter
3.2.1 The Firm shall as soon as possible confirm and acknowledge receipt of a matter and describe to the client a summary of the task to be performed, if necessary, or if requested by the client.
3.2.2 Subject to the provisions of the Danish Bar and Law Society and the internal procedures established by the Firm in respect of identification of conflicts of interest, if any, the Firm shall undertake that no such conflict of interest or incapacity exists when opening a matter.
3.3 Conduct
3.3.1 The Firm will conduct all matters in compliance with the provisions of the Danish Administration of Justice Act on the practice of law and other relevant legislation. In addition, all matter will be conducted by the Firm in compliance with the ethical rules of the Danish Bar and Law Society.
3.3.2 The scope of the legal assistance requested by the client in relation to a matter shall be agreed on a regular basis, and the Firm will undertake to provide the client with qualified, legal advice, and provide the agreed services in due in due course.
3.3.3 The ethical rules applicable to Danish lawyers and the Danish Bar and Law Society is stated on the Website: www.advokatsamfundet.dk.
3.4 Fee
3.4.1 The Firm shall endeavor to carry out any matter at a fee that is commensurate to the performance for carrying out the task undertaken. In connection with this the Firm shall endeavor to conduct the matter at an appropriate level.
3.4.2 The Firm shall, unless otherwise agreed, determine the fee, based on the number of hours undertaken in order to carry out the matter. The size of the hourly rate depends, among other things, on the seniority and expert knowledge possessed by the attorney(s) in conduct of the matter. Apart from the number of hours undertaken, the calculation of the fee will also include other elements, including the scope of necessary expert knowledge, the value involved in respect of the matter, the importance of the matter to the client, the complexity, the result achieved, and the responsibility associated with the case.
3.4.3 The Firm will endeavor to resolve all matters against payment of a consideration in the form of a fee, which is commensurate to the Firm’s performance and the value of the matter, however, in relation to matters representing minor value there may be matters where the fee will not be commensurate to the value of the matter.
3.4.4 Upon request, the client will be informed of the expected fee in connection with the commencement of a matter, if it is possible to estimate such fee, taking the nature of the matter into account. If it is not possible to estimate the fee, the client will be informed of the applicable fee calculation principles.
In matters pertaining to consumers, the client will receive adequate details in respect of the fee prior to the commencement of the matter.
3.4.5 Any necessary costs and disbursements undertaken by the Firm in connection with a matter is payable by the client in addition to the fee. However, general administrative assistance is included in the fee.
3.4.6 The Firm is subject to the surveillance and disciplinary system and the ethical rules administered by the Danish Bar and Law Society and stated on the Website: www.advokatsamfundet.dk.
3.4.7 In the event of a dispute between the client and the Firm in respect of a fee invoiced by the Firm and/or the performance of the Firm, the client is in respect of the size of the fee and/or the Firms performance entitled to submit a complaint to Advokatnævnet, 28, Kronprinssessegade, DK 1306 Copenhagen K (www.advokatnaevnet.dk).
3.5 Terms of payment
3.5.1 In general, the Firm will invoice the client when the matter is completed or with intervals agreed in advance with the client. However, at any time the Firm shall be entitled to settle long-term matters on account.
3.5.2 Payment terms are 14 days from the date of the invoice. In case of late payment, the Firm shall be entitled to charge interest according to the provisions of the Danish Act on Interest in force at any time. Applicable VAT will be added to the fee according to the VAT legislation.
3.6 Confidentiality and insider trading
3.6.1 The Firm will undertake that all information, which is not available to the general public, is kept strictly confidential. The Firm is obliged to observe professional secrecy, and separate safety procedures pertaining to confidential information and materials have been adopted.
3.6.2 The Firm is subject to the current legislation pertaining to non-disclosure of internal information in respect of listed companies and the current restrictions on trading in listed securities.
3.6.3 The Firm has adopted rules and procedures to prevent insider trading.
3.7 Liability, limitation of liability and liability coverage
3.7.1 The Firm shall be liable in respect of any professional advice provided to the client, however solely in accordance with the general rules of Danish law.
3.7.2 The liability of the Firm is limited to a maximum of DKK 20 million for each assignment and matter. However, compensation to a client cannot exceed DKK 20 million for claims presented within the same calendar year and the immediately subsequent year.
3.7.3 The liability of the Firm shall only cover direct financial losses, which do not include consequential losses of any kind, including business interruption, loss of data, loss of profit, goodwill, image etc. or other forms of indirect losses.
3.7.4 The Firm has out an insurance against professional liability risks, and has provided a guarantee in accordance with the rules of the Danish Bar and Law Society with Codan Forsikring A/S, Gammel Kongevej 60, DK-1790 Copenhagen V.
3.7.5 The Firm 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 the Firm.
3.8 Choice of law and venue
3.8.1 Any dispute between the Firm and a client shall be settled solely in accordance with Danish law, and the sole and exclusive venue for such dispute shall be the Danish courts.
Copenhagen, October 12, 2018