2. Money laundering and data protection

2.1
Heygum Petersen Thomsen is subject to the rules set out in the Danish Act on Measures to Prevent Money Laundering and Financing of Terrorism and is, consequently, obliged to obtain and retain proof of its client’s identity, etc.

2.2
Identity information obtained in accordance with the Danish Money Laundering Act is solely processed with a view to prevent money laundering and the financing of terrorism. Identity information will not be applied for commercial purposes.

2.3
When Heygum Petersen Thomsen establishes a client account, Heygum Petersen Thomsen is under obligation to disclose identity information to the bank with which the account is established for the bank’s performance of the duties to which it is obligated under the Danish Money Laundering Act.

2.4
In connection with legal advice and other client services, Heygum Petersen Thomsen processes personal data for various purposes. Reference is made to Heygum Petersen Thomsen’s Privacy Policy, which is available at Heygum Petersen Thomsen’s website.

3. Fees, invoicing and client funds

3.1
Heygum Petersen Thomsen’s fees are based on the scope of work requested, including work outside normal office hours, the importance of the matter to the client, the value added by the services provided by Heygum Petersen Thomsen, the responsibility associated with the work, the complexity of the matter, the degree of specialist knowledge required and the result achieved. In cases decided by administrative bodies, arbitration tribunals or the courts, Heygum Petersen Thomsen’s fee will constitute at least the amount awarded to the client in litigation costs.

3.2
All expenses and disbursements associated with the work performed by Heygum Petersen Thomsen, including charges, reasonable travel and hotel expenses, food, extensive photocopying, postage and courier costs as well as external transmission costs will be charged to the client in addition to the fee payable by the client for services provided by Heygum Petersen Thomsen.

3.3
On acceptance of the client’s instructions, Heygum Petersen Thomsen will, on request, give the client an estimate of its fee if possible considering the nature of the services requested. If it is impossible to give an estimate, Heygum Petersen Thomsen will inform the client of the basis for the calculation of the fee, e.g. the hourly rates. In consumer contracts, the client will be given information on the fee before any work is commenced.

3.4
Heygum Petersen Thomsen generally invoices its services monthly in arrears. However, large external expenses will always be subject to advance payment.

3.5
The payment terms are 21 days net from the invoice date. In case of late payment, interest will be charged in accordance with the provisions of the Danish Interest Act. The invoice amount is payable net of any local taxes in the jurisdiction of the client.

3.6
All client funds paid to Heygum Petersen Thomsen will be managed in accordance with the rules of the Danish Bar and Law Society and will be deposited in client accounts. Interest accrued will be credited to the client in accordance with the rules of the Danish Bar and Law Society. The client must pay any interest debited to a separate client account as a consequence of such account being subject to a negative rate of interest as well as any fees which the account-holding bank may debit in connection with establishing, maintaining or closing down a separate client account. Client account deposits will be covered up to a general limit of EUR 100,000 laid down by the Danish Guarantee Fund for Depositors and Investors Act in the event of the financial collapse of the account-holding bank. The cover limit is calculated for each individual bank per client and includes the client’s deposits in own accounts, in separate client accounts and in joint client accounts. Heygum Petersen Thomsen assumes no liability for any loss incurred by clients as a consequence of the financial collapse of the account-holding bank.