Business Terms

General terms of business

Our expertise: Luxembourg law

We are exclusively advising under Luxembourg law at the date on which our advice is given. We are not advising under any other law (US law for example). Ongoing legal monitoring services after the date our advice is provided are not part of our engagement. Our engagement does not cover tax aspects or tax advice nor does it cover IT advice. We are not offering financial services or advice either.

Invoicing

Invoices shall as a matter of principle be issued on a monthly basis or bi-monthly basis.

Adjustments

Where we are working on the basis of hourly rates, these are adjustable on a yearly basis.

Payments

Invoices are payable upon receipt. If they are not paid within 15 days, interest shall be due as provided for by Directive 2011/7/EU of 16 February 2011.

Expenses

While our fees are determined on an ad hoc basis, our office expenses are set at a fixed 5 % which shall be added to our fees.

Out of pocket expenses will be invoiced separately. They include, but are not limited to DHL, travel, hotel and related expenses, translations, certifications, experts, notary, registration as well as third party costs incurred in general.

VAT

Mandatory VAT at a rate of currently 17 % comes on top of all fees and office expenses and shall be invoiced accordingly, except otherwise provided under VAT legislation or equivalent.

DAC 6

As lawyers, we are exempted from reporting obligations of certain cross border arrangements as defined under Council Directive 2018/822 (DAC 6) and its implementing legislation. We have instead a notification obligation towards certain intermediaries involved in such arrangements or, as the case may be, on our client.

Unless our client notifies us of the presence of certain intermediaries in the transaction at the time when we enter into a business relation, we shall consider that there are no such intermediaries under DAC 6 and that our notification obligation towards the client is herewith completed.

Data protection

We care about data and for the purpose of rendering our services, we shall process personal data in accordance with applicable laws and our privacy policy which can be consulted separately.

Documents

Except for originals which may be requested from time to time during the period of our engagement from us to the extent we have been entrusted with them before, we shall retain physical and/or electronic copies of papers and documents, when and as we deem fit.

Money laundering – terrorist financing

The combat against money laundering and terrorist financing is paramount to us, and we shall abide by our anti money laundering and counter terrorist financing obligations as provided for under Luxembourg law.

Termination

A client-attorney relationship is about trust, and the business relationship between our client and ourselves is accordingly subject to termination by either party at its sole discretion but always in good faith by written or email notice, and in such case our undertakings shall cease upon issuing of such notice, and we shall establish a final invoice.

Limitation of liability

Our liability shall be limited to acts of wilful misconduct and serious negligence and under no circumstances shall such liability exceed three times the amount of fees invoiced and paid for a specific assignment.

Third parties

Unless specifically agreed otherwise, third parties shall not be entitled to and shall indeed not rely on our advice. Where specifically agreed otherwise, such agreement shall also be subject to the present general terms of business, and in particular its limitation of liability clause.

Law and jurisdiction

These general terms of business and the advice we are providing shall be governed by Luxembourg law (excluding its provisions of conflict of laws). Any dispute shall be subject to the exclusive jurisdiction of the Courts of the city of Luxembourg, and we shall under no circumstances be subject to the jurisdiction of any other Courts in the US or elsewhere.