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 Terms of Business
 
1. DE BROECK VAN LAERE & PARTNERS (hereinafter "DVP") is a civil company in the form of a cooperative limited liability company (SCRL) incorporated under Belgian law.

2. These terms of business apply to the work undertaken for the client by DVP, its partners, associates and trainees and by any other persons who work with or under the responsibility of DVP.

3. All work for a client is deemed to have been exclusively entrusted to and to have been carried out by DVP, even if it is the express or implied intention that a specific person will carry out a specific assignment.

4. The client undertakes to provide DVP with all data and information, possibly supported by documents. The client will ensure that the information given by him or on his behalf is correct, complete and reliable.

The client undertakes to inform DVP in due time about any procedural initiatives to be undertaken and to transmit promptly to DVP any documents which may come to the attention of the client and/or be notified in the context of judicial procedures and/or disputes.

5. As the dominus litis, DVP will make every possible effort to achieve the result expected by the client but cannot offer any guarantee to this effect.

DVP will always strive to offer optimal assistance and accuracy of the advice given in accordance with the current state of the legislation, the case law and the legal doctrine, but DVP cannot be held liable for the inappropriate or fraudulent intentions of the client, that would result in an improper use of the assistance.

6. The work is undertaken exclusively for the benefit of the client. Third parties cannot derive any rights form the work undertaken or from the ensuing results.

7. DVP's bills are payable within 8 days of receipt. If the client does not agree with the amount of fees billed, he must protest in writing within 8 days.

Interest shall be due automatically and without notice of default from the due date and will be calculated at the statutory interest rate. In case of late payment an indemnity will be due to cover the cost of recovery, calculated at 10 % of the principal amount of the bill, with a minimum of EUR 250.

8. If the client has legal expenses insurance, he will always remain personally liable to pay DVP's bills for the part of the bill that is not paid by the legal expenses insurer.

9. The liability of DVP, its partners, associates and trainees is limited to the amount of the professional liability insurance policy subscribed by DVP and within the limits of its cover. The insured amount is currently EUR 3,250,000. At the express request of the client, insurance can be taken out for a higher amount for a specific file, if the client pays an additional premium.

In any case, any claim for damages lapses if the competent court is not seized within one year after the facts on which the claim is based, were known or could reasonably have been known to the client.

10. Unless expressly agreed otherwise, DVP is not liable for the services provided by third parties, on which it relies.

11. Documents, messages and information of any kind sent by e-mail to the client are not encrypted, irrespective of whether or not they contain confidential information. All electronic communications are purely indicative and cannot entail the liability of DVP, except for attachments in PDF format signed on behalf DVP.

DVP will make all reasonable efforts to keep e-mails and attachments free of viruses or other defects which might result in damage to a computer or IT system. It is however the client's responsibility to take all necessary measures to protect and safeguard their computer or IT system.

DVP does not accept any liability or responsibility for any loss or damage that may result from the client receiving or not receiving, using or not using electronic communications or documents coming from DVP.

12. DVP, and all persons involved in undertaking work for a client are entitled to invoke these terms of business, including former employees (as well as their legal successors), if they are held liable after they have left DVP.

13. The Client acknowledges and accepts that under the Act of 11 January 1993 on preventing use of the financial system for purposes of laundering money and terrorism financing, DVP has a duty to comply with the obligations defined by the Act in respect of, inter alia, client due diligence and reporting of suspicions of money laundering or terrorism financing to the competent authorities.

The client is also aware that under this Act, DVP may be required to identify the client. The client undertakes to cooperate fully in the manner prescribed in the Act.

If required, the full text of this legislation may be obtained from DVP

14. Only Belgian law is applicable to all legal relationships between clients and DVP. Parties shall endeavour to resolve any disputes amicably. Only the courts of Brussels shall have jurisdiction, subject to the right of DVP to take legal action before the courts of the client's jurisdiction.



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