This document sets out the basis on which Sagnard & Associés accepts instructions and conducts business with clients.
A letter of engagement signed by the partner(s) in charge of your matter may alter or override any of these terms. By instructing us, you agree to be bound by these terms.
Our fees are established according to the rules set forth by Luxembourg law and the Bar Association, taking into account inter alia the importance of the matter, its complexity and its outcome.
For each lawyer we charge an hourly rate that is set in accordance with his or her individual experience. These rates are exclusive of VAT and may be reviewed from time to time.
Our final professional fee will be based on the time our lawyers spend on the matter and there may be an additional charge if the work is particularly complex or the outcome is particularly satisfactory.
If a transaction or other matter is terminated, our fees will still be payable by you.
Unless otherwise agreed in writing, estimates are provided only as a guide and should not be regarded as a firm quotation.
The following expenses will be added to our professional fee:
• VAT (where applicable).
• Disbursements (amounts we pay on your behalf) such as bailiff’s fees.
• Specific expenses, such as travelling and translation costs.
Our standard arrangement is to send interim statements of fees and expenses periodically to cover the work we have performed on the matter 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 at the legal rate.
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 may ask you to pay one or several fee instalments in advance, both at the start of our arrangement and as the matter progresses. If you fail to pay such fee instalments, we reserve the right to cease our work on your behalf and charge you for any work already done.
Conflict of interest
Before accepting your instructions, we have made reasonable checks that there is no commercial conflict of interest that prevents us from acting 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 endeavours to ensure that we act in your interests.
We are bound by strict professional secrecy rules under Luxembourg law, and our breach will give rise to criminal sanctions. Accordingly, we will treat all information about your business and affairs as confidential (unless we are required to disclose any information by law or by agreement with you).
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 give us are secure.
Our advice 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.
We are entitled to retain all 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 ten years. After this period, we may destroy your file.
Limitation of liability
All liability to you in respect of breach of contract or breach 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, if any, under our professional liability insurance policy in the matter concerned, plus the amount of the own risk deductible that is not for the account of the insurers under the policy conditions in the matter concerned. In the event and to the extent that no monies are paid out under the professional liability insurance for whatever reason, any and all liability on our part shall be limited to two times the amount of the total fees charged by us in the relevant matter.
We shall, as far as possible, consult you before engaging third parties, and shall in any event exercise the requisite due care in selecting 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 our partners. Your recourse shall be limited to the partner in charge of your matter.
Money Laundering Regulations
The Luxembourg money laundering regulations impose obligations on us to obtain sufficient knowledge of clients, their identity, their business and the nature of funds that pass through our accounts. The rules also require 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 the event that we have any 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 where it arises as a result of any such disclosure to the authorities.
You hereby authorise 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 undertake not to transfer your data to any third parties, except if required by law or authorised by you.
You have a right to access your personal data and may ask for a rectification where such data is inaccurate or incomplete.
You have a right to object to the use of your data for marketing purposes (e.g. invitations to seminars or legal updates).
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.
Governing law and jurisdiction
Our relationship with you is governed by Luxembourg law and subject to the exclusive jurisdiction of the courts of Luxembourg-City.