General Conditions

LEGAL FORM & ACTIVITY – You contract with KORU LAW BV (hereinafter referred to as “KORU LAW”), a private limited liability company under Belgian law (“besloten vennootshap” or “société à responsabilité limitée) with registered office at de Meeûssquare 35, B-1000 Brussels, Belgium and registered in the Crossroad Bank of Enterprises under the number 0821.159.438. The purpose of the company is to provide all type of legal services and to exercise the profession of attorney, lawyer, arbitrator, legal counsel, legal consultant, legal advisor and legal representative.

APPLICABILITY – Our General Conditions apply to all services and activities performed for clients and to all legal relationships formed in this context. You agree to be bound by these General Conditions explicitly, excluding the applicability of any other general conditions.

CLIENT COOPERATION – When so requested, client shall immediately provide all information related to the services to be performed. Furthermore, client will have to provide complete information on his identity as KORU LAW is obliged to comply with anti-money laundering legislation. Client shall be responsible for the accuracy, completeness and reliability of all data and information provided to KORU LAW. Client’s failure to cooperate in a timely manner shall entitle KORU LAW to suspend its services immediately or to terminate the agreement.

BEST EFFORT OBLIGATION – The contractual relationship is concluded between KORU LAW and client. The obligations of KORU LAW are best effort obligations. KORU LAW shall execute the client’ instructions to the best of its capabilities. In case of any subcontracting to internal or external lawyers, the continued application of the present General Conditions shall remain in force. Claims relating to legal services may only be introduced against KORU LAW. The client agrees that only KORU LAW can be held liable for shortcomings in the performance of the services.

THIRD PARTIES – KORU LAW is authorized to entrust the performance of services to third parties such as bailiffs, external lawyers, legal advisors and legal consultants. By accepting these General Conditions, client agrees that KORU LAW can entrust services to third parties. In the performance of these services, KORU LAW cannot be held liable for errors committed by these third parties.

FEES, COSTS AND ADVANCES – KORU LAW agrees on a price structure (flexible price methods or hourly rates) that best matches the client’s need. The price structure is to be agreed with client prior to the performance of any services.

All fees will be set in function of the nature of the case, the specialisation, the degree of difficulty, the urgent nature of the services to be provided and the experience of the lawyer handling the matter.

KORU LAW shall be entitled to request an advance (a lump sum) from the client by means of a provision statement. The advances paid to KORU LAW shall be deducted from the total amount on the final invoice.

All amounts are subject to a VAT percentage of 21 % and administrative costs of 5 %. Invoicing will occur at the end of the month or after performance of certain tasks. Each invoice will contain a detailed description of the services rendered, the administrative costs (5%) and VAT (21%).

The invoices are payable within fifteen (15) days as of invoice date. Failure to proceed to payment will accrue a 10% interest as of due date until the date of full payment without any prior notification of default. Furthermore, KORU LAW is entitled to request a fixed sum of compensation of 10% on unpaid invoices. At its sole discretion, KORU LAW has the right to suspend the performance of its services or to terminate the agreement in case of non-payment of the invoices without being held liable for any damages that may be caused by such suspension or termination.

CONFIDENTIALITY – KORU LAW undertakes to perform each service and activity in compliance with the confidentiality obligations prescribed by the Judicial Code and the professional rules of the Bar.

INTELLECTUAL PROPERTY RIGHTS – All written material issued by KORU LAW are covered by intellectual property rights and may not be reproduced or used without the prior written authorization of KORU LAW.

LIABILITY – The lawyers of KORU LAW are insured for professional liability via the Dutch speaking Bar Council, the Council of French-Speaking and the German-Speaking Bars. Client accepts that any compensation of damages in the event of professional error(s) is limited (i) to the amount paid out by the insurer, in default of which, (ii) to the amount of the fees (not including VAT) charged for the services rendered with a maximum of EUR 25.000. KORU LAW can never be held liable for any shortcomings of third parties that were engaged in the performance of the services.

TERMINATION – Both client and KORU LAW have the right to terminate the agreement at any time without prejudice to the client’s obligations to remunerate services already rendered and costs incurred.

ARCHIVAL OBLIGATIONS – After termination of the agreement, KORU LAW, shall preserve the documents and files for the period required by law. Passed such period, the documents and files may be destroyed.

APPLICABLE LAW & COMPETENT COURT – These General Conditions are governed by Belgian law. Any dispute arising in connection with these General Conditions shall be subject to the sole jurisdiction of the competent courts of Brussels, Belgium. Any claim linked to a dispute regarding the performance of services by KORU LAW shall be introduced within twelve (12) months as of the termination of the services.