These standard terms of engagement shall apply in respect of all work carried out on your behalf, except to the extent that the parties have otherwise agreed in writing (the "
Terms").
1. SERVICES
1.1 The Services that we shall provide to you are outlined in the Letter of Engagement.
2. FINANCIAL INFORMATION
Hourly Rates2.1. Our current hourly rates are set out in the Letter of Engagement. We reserve the right to amend the hourly rates charged as and when reasonably necessary. You shall be notified of any change in advance of such amendment taking affect.
2.2 The hourly rates charged shall take into account the following (but shall not be limited to) the time-spent working on each matter; the skill / level of expertise required; the complexity of the matter and the technical knowledge required; urgency of the matter (including any timeliness); the importance of the matter to you; what degree of risk (if any) is assumed by us in undertaking the Services; and all other reasonable factors that may be considered when providing the Services.
Estimate of Costs2.3 Should we provide you with an Estimate of Costs, this will be an estimate only considering the nature of the Services described and the likely fees to be incurred at that time.
2.4 If the Services are varied or the matter proves more complicated than initially anticipated, all additional work undertaken shall be charged on a time-spent basis at the hourly rates set out in the Letter of Engagement. You shall be notified of any change in the Estimate of Costs in advance of the estimate being exceeded.
Fixed Fees2.5 If the parties have agreed a Fixed Fee for the Services, this shall be set out in the Letter of Engagement. Any Services performed outside the Scope of Instruction shall be charged on a time-spent basis and those fees will be incurred as per the hourly rates set out in the Letter of Engagement. You shall be notified of any additional fees in advance of the Fixed Fee being exceeded.
Disbursements / Expenses2.6 In performing the Services (or any additional work as agreed), we may incur disbursements or expenses on your behalf. Any disbursements or expenses incurred shall include (but shall not be limited to) filing fees; expert's fees; photocopying charges; communication expenses; travel; couriers; searches or registrations. The disbursements or expenses incurred shall be included in our Invoices.
2.7 We reserve the right to require monies on account from you in advance of any disbursements or expenses which may be incurred.
Goods, Services Tax (GST)2.8 GST shall be payable on fees, disbursements or expenses incurred by us in performing the Services. The extent of the GST payable shall be set out in our Invoices.
Invoices2.9 We shall send Invoices to you (or anyone nominated on your behalf) on an interim basis; this shall usually take place during the middle of each month (e.g. the 15th) and at the end of each month (e.g. 30th) and again upon conclusion of the matter.
Payment of Invoices
2.10 All Invoices rendered shall be payable within fourteen (14) days of the date of the Invoice (unless the parties have agreed alternative payment arrangements).
2.11 We reserve the right to charge interest on any amount which is overdue. Interest shall be calculated at the rate of 2% per month from the date that the Invoice became overdue until such time as the Invoice is paid in full.
2.12 If we are required to undertake steps to seek recovery of an unpaid Invoice (and/or interest incurred), then you shall bear the costs of such recovery which shall include debt collection costs; filing fees; and any professional costs incurred because of the non-payment.
Joint and Several Liability
2.13 You and anyone on your behalf shall be jointly and severally liable for the payment of all Invoice(s).
3. CONFIDENTIALITY3.1 We shall hold in confidence all information concerning you and the matter that we acquire during performance of the Services and shall only disclose such confidential information if it is:
- a) reasonably necessary to enable us to perform the Services; or
- b) in compliance with any guidelines or law(s); or
- c) with your express consent.
4. TERMINATION4.1 Either party may Terminate the engagement at any time.
4.2 In the event that any lnvoice(s) remain unpaid by you, then we reserve the right to Terminate the engagement and shall have no liability to you for any loss(es) suffered as a result of the Services no longer being performed.
4.3 If the engagement is Terminated, then you must ensure that all invoices are settled in full (to include any disbursement s or expenses incurred).