Unless otherwise expressly agreed, these general terms and conditions apply for all legal assistance provided by GALST Advokataktieselskab, VAT no. 32 28 55 70 to its clients. The terms and conditions were most recently revised on 12th May 2023.

Case
If you are a corporate client, the scope of the agreed case will be discussed on an ongoing basis, and unless otherwise agreed, the fee will be calculated according to our general principles for calculation of fees, see below. If you are a consumer, a written agreement specifying the scope of the case and the agreed fee will always be drawn up in advance.

We carry out all tasks in accordance with the provisions of the Danish Code of Professional Ethics and the provisions on lawyers set out in the Danish Administration of Justice Act.

Intellectual property rights to material prepared by GALST Advokataktieselskab belong to GALST Advokataktieselskab, unless otherwise expressly agreed.

Duty of confidentiality
All employees at GALST Advokataktieselskab are subject to a duty of confidentiality. All information received about a client in connection with a case will be treated confidentially unless it is evident from the circumstances that the information is not confidential.

Conflicts of interest
When we receive a case, we make sure, in accordance with the rules of the Danish Bar and Law Society and our internal procedures, that there is no basis for disqualification or conflict of interest. If disqualification or conflict of interest becomes evident during the case and we must relinquish the case as a result of this, we will be pleased to refer you to another lawyer.

Determination of fee

Our legal fees are determined on the basis of the rules of the Danish Administration of Justice Act and the Code of Conduct for the Danish Bar and Law Society. Our fee is based on the complexity of the task, the importance of the task for the client, the value of the task, the outcome of the task, the responsibility associated with the performance of the task and the time spent and specialist knowledge applied in connection with our assistance as well as the time involved in fulfilling statutory requirements in relation to the creation of the case, including e.g. money laundering investigation, know-your-client (KYC), DAC6 and GDPR. Replying to attorney's letters to the customer's auditor is invoiced based on time spent, see below.

Clients are invoiced separately for disbursements and other relevant costs in connection with the advisory services provided, including for example transport and accommodation. These costs are thus paid by the customer in addition to the legal fee.

As a main rule, we invoice the time spent monthly in arrears.

Unless otherwise agreed in writing, the following hourly rates are included in the determination of the fee:

• Partners (Hans Christian Galst, Christian Steen Laursen, Kristian Dreyer and Majken Korsgaard) DKK 3,750 excl. VAT or DKK 4,687.50 incl. VAT.
• Attorneys Regitze Elmsted, Lotte Lundin, Peter Jakobsen and Finn Altschuler DKK 3,200 excl. VAT or DKK 4,000 incl. VAT.
• Attorneys Anders Hebbelstrup Jensen, Sabrina Bolvig Olsen and Henrik Drewes Rasmussen DKK 3,000 excl. VAT or DKK 3,750 incl. VAT.
• Attorney Josephine Winge DKK 2,800 excl. VAT or DKK 3,500 incl. VAT.

During the course of the case, the hourly rates can be adjusted henceforth and without notice, and are valid from the time of adjustment until the next adjustment. The client will be informed of any adjustment. The applicable hourly rates are always available under "terms and conditions" on our website www.galst.dk.

We reserve the right to request payment of an on account fee prior to the execution of the task

Terms of payment
Our payment terms are net cash, and our fee therefore falls due for payment on issue of the invoice or subject to 14-day payment terms, which will be set out specifically in the invoice under terms of payment.

In the event of late payment, reminder fees and interest will be charged in accordance with the general rules of the Danish Interest Act. VAT is added to the fee according to current rules.

Client funds
All “client funds” are managed in accordance with the rules laid down by the Danish Bar and Law Society and will be placed in a “client account”. Any interest will accrue to the client in accordance with the rules laid down by the Danish Bar and Law Society.

Client funds are protected under the Act on Guarantee Scheme for Depositors and Investors. At 1 June 2015, protection is limited to an amount of EUR 100,000 per client per bank. GALST Advokataktieselskab is not liable for any loss of client funds due to financial stress suffered by the bank or due to restricted cover from the Depositors’ Guarantee Fund.

Inside information
We have rules prohibiting the disclosure of inside information on listed companies and restrictions for trading of listed securities for all employees in the firm. The rules also apply to family members and cohabiting partners.

Money laundering regulation
We are covered by the Danish Act on measures to prevent money laundering, and we therefore have a duty to report any irregularities to the authorities.

According to the Act, we have a duty to obtain and store identity information from new and existing clients who have not previously submitted identity information.

Termination of the case and resignation
The agreement or the cooperation may be terminated by either party at any time. Termination by GALST Advokataktieselskab may take place in the following situations, among others: material failure to make timely payment, resignation is deemed to be in the client’s interest, the client’s insolvency or other compelling reasons. We will make every effort to ensure that resignation will take place without undue difficulties and that the client will have the possibility to seek advice and representation from another law firm. Resignation does not mean that any claim for payment of fees will lapse.

Complaints
We always aim to do our very best to meet the client’s needs. If the client is dissatisfied with anything in our case handling the client may contact the responsible partner in order to discuss the issue and find an amicable solution.

The client may also submit an actual complaint to the Disciplinary Board of the Danish Bar and Law Society. In that case, the complaint must be submitted to the Disciplinary Board of the Danish Bar and Law Society no later than one year after the client identified the issue of the complaint. However, we recommend that the client discusses the matter with us before submitting the complaint and that a complaint is submitted as soon as possible, preferably within three months.

Contact information for the Disciplinary Board of the Danish Bar and Law Society: Secretariat of the Disciplinary Board of the Danish Bar and Law Society, Kronprinsessegade 28, DK-1306 Copenhagen K.
Website: http://www.advokatsamfundet.dk/Advokatnaevnet.aspx
E-mail: klagesagsafdelingen@advokatsamfundet.dk

Liability, limitation of liability and time-barring
We are liable in accordance with the general rules of Danish law. In case of simple and gross negligence on our part, liability is limited to a maximum amount of DKK 85 million per year and directors’ and officers’ liability cover of a total of DKK 10 million per year for each attorney. The client needs to pay particular attention to this limitation of liability.

We have taken our liability insurance with HDI Danmark, a branch of HDI Global SE, Indiakaj 6, 1st floor, DK-2100 Copenhagen Ø (VAT no: 37 27 62 51). If and when the size of a case so require, we will agree with the client to take out additional insurance for the case in question. GALST Advokataktieselskab, our partners and employees are not liable for indirect loss or business interruption loss, including loss of data, loss of profit, goodwill, image or similar conditions.

Claims can only be raised against GALST Advokataktieselskab and not against the individual employee or partner.

For corporate clients, claims for compensation against GALST Advokataktieselskab become time-barred 12 months after the client became aware or should have become aware of the circumstances resulting in the claim. However, claims become time-barred no later than 3 years after the provision of the advisory service on which the claim is based.

Governing law and jurisdiction
Our advisory services and our terms and conditions are subject to Danish law, except where conflict of laws invoke the application of foreign law. Any disputes between GALST Advokataktieselskab and the client may only be brought before the Danish courts.

GALST SELSKABER

The terms and conditions below apply when you order new registration of private limited liability companies and public limited liability companies via www.galstselskaber.dk.

The website is operated and its services are provided by GALST Selskaber, CVR no. A/S 32 28 55 70, which has the following registered address:

GALST Selskaber

c/o Galst Advokataktieselskab

Gammel Strand 44

DK-1202 Copenhagen K.

GALST Selskaber is owned by Galst Advokataktieselskab.

We are a member of the Danish Bar and Law Society and the Association of Danish Law Firms.

Unless another separate agreement has been concluded, the following terms and conditions also apply:

When you send an order for a company via our order module, you provide a wide range of information and personal data for both legal entities and private individuals.

If you are an attorney or auditor or other adviser, and if you order a company or other service from us on behalf of your own client, you have an independent responsibility for ensuring that these persons/legal entities have provided every necessary consent, including consent to join the company's management, group of owners, or group of founders. As a proxy holder/representative, you guarantee that every necessary consent has been obtained.

If you are a private individual or company, we will send you a memorandum of association with associated articles of association and power of attorney to be signed by all persons/entities before registration can take place. If some of the company members are prevented from signing, they must give power of attorney to another company member.

Like all other law firms, we are subject to the Danish Anti-Money Laundering Act. In section 1(1)(13) and (14) of the Danish Anti-Money Laundering Act, it is provided that the formation of companies and related work/consultancy are subject to the obligation to collect and store statutory identity information. As a result, we must receive photo identification in the form of a passport copy or driver's licence. If the founder is an alien, we must have official proof of the person's registered address abroad. For foreign companies, it applies that we must receive a company registration certificate from the relevant country's registration authority which must state who the owner is. There must be identity information for all persons included in the registration of the company. We store the identity information.

If the contributed capital in a cash formation is not transferred to our client account, the capital must be documented in the form of a statement of account confirmed by your bank, in the name of the company. The fee share must have been deposited in our client account, or transfer must be documented before a draft is submitted.

Immediately after your entry, you will receive an order confirmation of your order to the email address provided by you at the end of the order module. When the capital has been deposited or payment has been documented and all the above documents have been submitted, the memorandum of association with associated articles of association will be sent, and the right of cancellation will thus cease. The company's documents are only delivered electronically in the form of files in PDF format (Adobe Reader®). You will always be able to receive these in an editable format upon request.

Any business connection, all advisory services, any agreement, and any purchase from/with us are subject to Danish law, and the Danish courts have exclusive jurisdiction with respect to settlement of disputes. However, Danish choice of law rules that point to the application of any other law than Danish (foreign law) do not apply.

Legal proceedings must be instituted before the Copenhagen District Court with the usual right to appeal to the Eastern High Court. In the event of legal proceedings, you as well as the company are obliged to appear before the Copenhagen City Court and/or the Eastern High Court upon due notice.

The following company documents must be submitted in connection with registration:

Memorandum of association

Articles of association

Register of shareholders

Certificate of incorporation (compiled summary) Invoice

Other documents can be purchased according to separate agreement and separate payment.

Delivery always takes place to the email address provided by the orderer in the order module. We assume no responsibility if the email address is incorrectly entered or does not work for technical reasons, also if SPAM filters or the like prevent expected and usual delivery.

Usual delivery time is up to a few hours after the duly signed memorandum of association and articles of association as well as other documentation as listed above have been returned to us (preferably by email or as a scanned copy in PDF format) .

For the formation of companies, the following price sheet applies in Danish kroner and with the VAT rate applicable at any time, subject to reservation. The current VAT rate is set out below:

Conversion of a private limited company to a public limited company                             DKK 5,000.00

Conversion of a public limited company to a private limited company                             DKK 5,000.00

Formation of a limited liability company (ApS)                                                                 DKK 3,000.00

Formation of a public limited liability company (A/S)                                                        DKK 4,000.00

Formation of a private limited liability operating company and holding company             DKK 4,500.00

Formation of a public limited liability operating company and holding company              DKK 5,500.00

Vat A TAX (tax deducted at source)/LABOUR MARKET CONTRIBUTION                            DKK 500.00 + 25% VAT

Invoices are usually issued to the newly registered company, unless otherwise agreed. Fees can be deducted from the capital contribution before payment from our client account.

You have the right to cancel your order although any order is considered a business relationship. The right of cancellation lapses as stated in clause 1.6 when we have received the order and the company capital has been paid or it has been documented that it has been paid into the company’s account, and we have knowledge of this. The right of cancellation may be exercised free of charge. Cancellation of an order for a company must take place in writing to info@galst.dk. Any amount paid by you (fee share and any company capital paid) will be returned to you as soon as possible within one week at the latest. In the event of cancellation, there is no interest on amounts paid.

We will cancel your order if, after repeated inquiries, we do not receive the above documentation or payment. One month after receipt and failure to respond to our inquiries regarding follow-up, the case will be closed without further notice.

Longer delivery times may occur if the Danish Business Authority's online system is unstable or out of order, including any delay by third parties (suppliers of our IT systems etc.). However, we will always keep you closely informed during such a process. We disclaim any responsibility for the consequences of the delay, also with regard to your other legal transactions that may be related to GALST Selskaber. It has been agreed that we are not liable for any operating loss, loss of profit, consequential loss or other indirect loss of any kind.

The formation of the company and the preparation of the corporate documents are based on your own entries, and you are yourself responsible for the correctness of these. On receipt of corporate documents, it is always your responsibility to review them yourself to identify any errors on our part and to ensure that your own errors are corrected. Complaints regarding any errors on our part must be received by us no later than 10 days from receipt. After expiry of the time allowed for complaints, notice of lack of conformity can no longer be made. If you identify an error in the registration in relation to your order, you must immediately notify info@galst.dk and state the nature of the error and the file number as well as the company's CVR number.

The terms below apply to your information to the extent that the information is to be considered personal data within the meaning of the Danish Data Protection Act. Personal data within the meaning of the Danish Data Protection Act include inter alia information about natural persons' names, addresses, etc., including corresponding information about sole proprietorships as well as the name and position of employees in companies or public authorities. The information that you provide to us in connection with your purchase (name, address, telephone number, email address, etc.) as well as information that you may otherwise provide to us, is treated confidentially in accordance with the Act on the Operation of Legal Professions (confidentiality) and is used to process your order and in connection with other contact with you. Personal data is transmitted between us in non-encrypted form. Personal data is stored by us in a database on a secure server to which there is no public access from the internet. We only store your personal data to the extent that it is legal.

According to the Danish Data Protection Act, you have a right of access to and rectification of the personal data relating to you. You can also object to further processing of your personal data.

Our website collects information about your identity and your conduct. This happens, among other things, through the use of so-called "cookies". The information is used to describe how our website is used, including for statistical purposes. All information collected is treated confidentially and is not transferred to countries outside the EU/EEA. The information is processed by an external data processor hosting our website. You can obtain more detailed information about any personal registrations by contacting us.

The general terms and conditions of Galst Advokataktieselskab apply. They are described in clauses 1-13. These are always available in electronic form on www.galst.dk, to which reference is made.