Terms of Business

1.

Instructions and scope of services

1.1

Haavind will agree with the client on an ongoing basis on the nature of legal services and the scope of each instruction, as well as the involvement and services (if any) of the client or others.

1.2

Haavind undertakes to provide qualified legal services punctually and as agreed.

1.3

In its work, Haavind complies with the provisions of the Attorney Regulations, the Norwegian Court Act and other relevant rules and regulations.

1.4

Haavind is subject to the rules of the Norwegian Money Laundering Act, and as such must obtain and keep proof of the client's identity, etc.

1.5

All papers and documents will be kept for at least five years after completion of the work. All original documents may be returned on completion of the work.

1.6

Clients will be granted the necessary rights to written material created in the course of Haavind's acting for the client, but all copyrights and other intellectual property rights are and remain vested in Haavind.

2.

Fees, invoicing and client accounts

2.1 

Haavind's fees are based on the scope of work requested, including work outside normal hours, the responsibility associated with the work, the complexity of the matter, the degree of specialist knowledge required and the result achieved.

2.2

All expenses and disbursements associated with the work performed by Haavind, including charges (if any) paid to third parties on behalf of the client, reasonable travelling and hotel expenses, food, large photocopying, postage and courier costs and external transmission costs, will be added to the fee payable by the client.

2.3

On acceptance of the client's instructions, Haavind will on request give the client an estimate of the fee if the nature of the services requested allows it. If it is impossible to give an estimate, Haavind will inform the client of the basis for the calculation of the fee, e.g. the hourly rates. In consumer contracts, the client will be given information about the fee before any work is begun.

2.4

The services of Haavind are usually invoiced monthly in arrears. However, Haavind will generally require prepayment of large amounts to be paid to third parties on behalf of a client.Haavind  may also require new clients to pay a retention amount reflecting the anticipated costs of any instructions, with any fees to be deducted from such amount in case of non-payment of invoices or towards payment of final invoice for the instruction.

2.5

The payment terms are 10 days net from the invoice date. In case of late payment, interest will be charged in accordance with the provisions of the Norwegian Delayed Payment Act.

2.6

All client funds paid to Haavind will be managed in accordance with provisions of rules of the Norwegian Bar Association, and will be deposited in specific client accounts with our bank. Interest accrued will be credited to the client according to the rules of the Norwegian Bar Association.

2.7

Based on appeal to relevant disciplinary authorities, it is possible to get evaluated whether the instructions were carried out in accordance with good practice or whether the fee is proportionate in relation to the instruction. The quality of work will not be considered. Generally, there is a 6 month appeal period. Information as to the appeal process is available on the web-site of the Norwegian Bar Association, www.jus.no.

3.

Confidentiality and inside information

3.1 

All information and data received from or about the client will be treated in confidence. Everyone at Haavind is obliged to observe an extended duty of confidentiality, and Haavind  follows procedures to ensure effective protection of all confidential information and data.

3.2

Everyone at Haavind is subject to special rules in accordance with current legislation prohibiting the disclosure of inside information about listed companies and restricting trading in listed securities.

3.3

Haavind shall be authorised to include the name of the Client on a list of its clients and in other business development materials of Haavind.

4.

Liability, limitation of liability and insurance

4.1 

Haavind is liable for the services provided in accordance with general rules of Norwegian law.

4.2

The liability of Haavind and its partners and staff is, however, limited to a maximum of NOK 200,000,000 for each instruction.

4.3

Haavind and its partners and staff are not liable for any consequential loss or other indirect loss, including loss of profits, data, goodwill, image, etc.

4.4

Haavind and its partners and staff are not liable for any errors committed by advisers recommended by Haavind, nor are Haavind liable for work undertaken by sub-contractors engaged by Haavind in accordance with agreement with the client.

4.5

Haavind has taken out professional indemnity insurance with a recognised insurance company.

5.

Applicable law and jurisdiction

5.1 

All services provided by Haavind and these Terms of Business are governed by Norwegian law.

5.2

Norwegian courts shall have exclusive jurisdiction to settle any claim or dispute.