1. AGREEMENT

1.1.  Unless we have agreed with you in writing otherwise, these standard terms (the “Terms”) will apply. You accept and agree to these standard terms by instructing or continuing to instruct us.

1.2. In these terms of engagement:

a. “We” or “Us” means Papadopoulos, Lycourgos & Co LLC.

b. The Client or “You” means the client for whom we are acting and/or are
engaged with.

1.3. Our engagement is only with you and not your shareholders, directors, members, assignees, trustees or heirs unless we expressly agree otherwise in writing.

1.4. We shall be entitled to assume that whoever gives us instructions to provide services has actual authority to do so and we shall be entitled to rely on any information provided to us by that person.

1.5. Where instructions are given on behalf of a company or other organisation we shall be entitled to assume that the Terms have been brought to the attention of and approved by your directors and/or partners and/or your appropriate and/or authorised officers.

2. COMPLIANCE AND REGULATION

2.1. We are under strict requirements to identify our clients for the purposes of anti-money laundering legislation. You agree to provide us with such evidence of your identity and that of directors, partners, trustees and controllers of your company or firm and of all connected shareholders and parties as we may require in order to comply with our obligations under the legislation and regulations against money laundering and drug trafficking or proceeds of crime generally.

2.2. We may need to obtain formal evidence of your identity. This may be necessary even though we have acted for you before or even if you or your organisation are personally known to us. We may also need to update on an annual basis identification evidence that we already hold.

2.3. We may cease to act for you if you fail to provide evidence of identity within thirty days of being requested to do so.

3. FEES

3.1.We charge for our services on a bespoke basis. Unless otherwise agreed, our fees are calculated on an hourly basis.

3.2. On request and where appropriate, we offer fixed, capped, conditional and abortive fees as well as value billing.

3.3. In setting our fees and our hourly rates we take into account:

a.The nature and complexity of the work;

b.The amount of time spent, knowledge required and responsibility involved;

c.The type and nature of the documents involved; and

d.The value of the transaction, property or subject matter.

3.4. Time spent on your matter will include, but is not limited to, meetings with you and others in relation to the matter, time spent travelling and waiting, considering and preparing papers, making and receiving telephone calls, correspondence, sending and receiving e-mails, attendance at Court or Tribunal, time spent in filing documents at Court and undertaking other clerking tasks, and documenting the arrangements under which we will provide legal services to you.

3.5. Out of pocket expenses incurred reasonably or at your request, are billed separately and in addition to our fees. Any disbursements of a significant amount may be charged separately and we will not be expected to meet these specific items, without first being placed in funds.

3.6. If a prepayment is requested and paid it will be credited in your favour and will be used to set-off any invoices issued by us and any other sums due under this engagement agreement or paid upon your instructions. When the Prepayment is exhausted, we will be entitled to ask you to make another prepayment to cover future invoices/services. We will not be formally engaged until we have received the Prepayment.

3.7 When an hourly fee arrangement is agreed, this will apply to all work already performed by the Lawyers for the Client prior to the signing of this engagement, which will be billed accordingly.

3.8. Fees are always quoted exclusive of Value Added Tax, which is payable in addition to the Fees where applicable.
 

3.9.  The contract can be terminated by giving notice in writing. Upon termination we will issue our final invoice for any unbilled services and request payment of all outstanding amounts. There is no right to a refund or of cancellation for services already rendered - you must pay for all services rendered up to the date of termination. If at the time of termination you have a credit balance (e.g. unused prepayment or parts of it) we will pay any unpaid services and return any remaining balance to you.

4.CONFIDENTIALITY AND CONFLICT OF INTEREST

4.1. We will not act for any other client on any matter in which we are acting for you, without your express written consent.

4.2. You agree that we will otherwise be free to act for any other client in any other matter, in which you may have an interest, unless we conclude at our discretion that it would be inappropriate for us to do so in the circumstances.

4.3. We owe a duty of confidentiality to all our clients and accordingly all documents and information, we receive as a result of acting for you, are confidential and cannot be disclosed to any third parties without your express consent.

4.4.Where our client consists of more than one person:

a.Each joint client irrevocably permits us to disclose to any other of the joint clients any information which we would otherwise be prohibited from so disclosing by virtue of our duty of confidentiality.

b. If any joint client ends this permission we may suspend or terminate the provision of the services related to that matter to one or more of the joint clients.

4.5. You agree that we may publish or otherwise disclose to other clients or third parties the fact that you are a client of our firm.

4.6. You agree to the storage, transfer, handling and processing of your data by us.

4.7. We do not agree to retain files for any particular period of time but generally keep all files for a minimum period of 5 (five) years. Unless we have agreed otherwise in writing, we reserve the right to destroy files without further reference to you, 5 (five) years after completion of a matter.

5.AUTHORISATION AND CONDUCT

5.1. We are authorised by you to do anything which is appropriate in our view to carry out our assignment and/or comply with any applicable laws, rules and regulations, codes of conduct, authorisations or practice.

5.2. You shall make available to us all the necessary and/or relevant material and information, for the purpose of effectively rendering our services.

5.3. We undertake not to compromise the case or conclude to any kind of binding arrangement on your behalf without first obtaining your authorisation.

6.LIMITATION OF LIABILITY

6.1. Without prejudice to the Terms, our aggregate liability to you, including liability for legal and other fees, costs and disbursements, in respect of all claims relating to our appointment is limited to the amount of 20 (twenty) times the fee that we are paid.

7.INDEMNITY

7.1. You undertake to indemnify and reimburse us for any liability and/or damages we incur in the rendering of our services provided that such liability or damages were not incurred as a result of our own default, negligence or wrongful action.

8.GENERAL PROVISIONS

8.1.The headings are only for easy reading and do not affect the construction of these Terms.

8.2. These terms and our appointment shall be governed by and/or construed in accordance with the laws of the Republic of Cyprus.

8.3. The parties agree that any dispute, legal action or proceeding arising out of or in connection with this Agreement shall be brought by the parties before the courts of the Republic of Cyprus.