1. Applicable Law
Our engagement letter, the schedule of services and our standard terms and conditions of business are governed by, and should be construed in accordance with, the law of Northern Ireland. Each party agrees that the courts of Northern Ireland will have exclusive jurisdiction in relation to any claim, dispute or difference concerning this engagement letter and any matter arising from it. Each party irrevocably waives any right to object to any action being brought in those Courts, to claim that the action has been brought in an inappropriate forum, or to claim that those Courts do not have jurisdiction.
2. Client identification
As with other professional services firms, we are required to identify our clients for the purposes of the UK Anti-Money Laundering legislation. We may request from you, and retain, such information and documentation as we require for these purposes and/or make searches of appropriate databases.
3. Commissions and other benefits
In some circumstances, we may receive commissions or other benefits for introductions to other professionals or in respect of transactions that we arrange for you. This commission varies between lenders. The fees you would otherwise pay will not be reduced by the amount of the commissions or benefits. We source a Lending Proposal from a panel of lenders, details will be supplied upon request. In this role, we are doing no more than effecting an introduction between You and the Lender(s) to enable You to choose a Finance Product that, in your sole opinion, is suitable for You. We are not Your agent or otherwise acting on Your behalf, and there is no duty upon Us to provide you with impartial advice, information, or recommendation.
We may receive a commission from the Lender as well as receiving Fees separately from You pursuant to the terms outlined in this agreement; for the avoidance of doubt these sums are subject to the terms of our arrangements with the Lender who pays that commission and will not be subject to the refund.
Communication between us is confidential and we shall take all reasonable steps to keep confidential your information except where we are required to disclose it by law, by regulatory bodies, by our insurers or as part of an external peer review. Unless we are authorised by you to disclose information on your behalf this undertaking will apply during and after this engagement.
We may, on occasions, subcontract work on your affairs to other professionals. The subcontractors will be bound by our client confidentiality terms. We reserve the right, for the purpose of promotional activity, training or for similar business purpose, to mention that you are a client. As stated above we will not disclose any confidential information.
5. Conflicts of interest
We will inform you if we become aware of any conflict of interest in our relationship with you or in our relationship with you and another client. We have safeguards that can be implemented to protect the interests of different clients if a conflict arises. Where conflicts are identified which cannot be managed in a way that protects your interests then we regret that we will be unable to provide further services. If this arises, we will inform you promptly.
If there is a conflict of interest that is capable of being addressed successfully by the adoption of suitable safeguards to protect your interests then we will adopt those safeguards. Where possible this will be done on the basis of your informed consent.
We reserve the right to act for other clients whose interests are not the same as or are adverse to your subject of course to the obligations of confidentiality referred to above.
6. Data Protection
We confirm that we will comply with the provisions of the General Data Protection Act 2018 when processing any personal data that we have obtained from you. In order to carry out the services of this engagement and for related purposes such as updating and enhancing our client records, analysis for management purposes and statutory returns, legal and regulatory compliance and crime prevention we may obtain, process, use and disclose personal data about you. Please refer to the Privacy Notice for more detail.
A Privacy Notice has been issued separately from the Terms of Business. Being transparent and providing accessible information to individuals about how We will use Your personal data is a key element of the EU General Data Protection Regulation (GDPR)
This Privacy Notice details the following;
The lawful bases for processing data, who we are, how we use the information about you, marketing consent, what information is collected, why the personal data is required, Our data retention periods, and individuals’ rights to personal data. More detailed information can be obtained on request.
You must be confident you understand how Your data will be processed. If you require further clarification, please contact us before entering into an Agreement.
If you have not reviewed our Privacy Notice Click here
Should we resign or be requested to resign we will normally issue a disengagement letter to ensure that our respective responsibilities are clear.
8. Electronic and other communication
Unless you instruct us otherwise we may, where appropriate, communicate with you and with third parties via email or by other electronic means. The recipient is responsible for virus checking emails and any attachments.
With electronic communication, there is a risk of non-receipt, delayed receipt, inadvertent misdirection or interception by third parties. We use virus-scanning software to reduce the risk of viruses and similar damaging items being transmitted through emails or electronic storage devices. However electronic communication is not totally secure and we cannot be held responsible for damage or loss caused by viruses nor for communications which are corrupted or altered after despatch. Nor can we accept any liability for problems or accidental errors relating to this means of communication especially in relation to commercially sensitive material. These are risks you must agree to bear in return for greater efficiency and lower costs.
If you do not wish to accept these risks please let us know and we will communicate by paper mail, other than where electronic submission is mandatory. Any communication by us with you sent through the postal system is deemed to arrive at your postal address two working days after the day that the document was sent.
9. Fees and payment terms
Our fees may depend not only upon the time spent on your affairs but also on the level of skill and responsibility and the importance and value of the advice that we provide, as well as the level of risk. If we provide you with an estimate of our fees for any specific work, then the estimate will not be contractually binding unless we explicitly state that that will be the case.
Where requested we may indicate a fixed fee for the provision of specific services or an indicative range of fees for a particular assignment. It is not our practice to identify fixed fees for more than a year ahead as such fee quotes need to be reviewed in the light of events. If it becomes apparent to us, due to unforeseen circumstances, that a fee quote is inadequate, we reserve the right to notify you of a revised figure or range and to seek your agreement thereto.
In some cases, you may be entitled to assistance with your professional fees. Assistance may be provided through insurance policies you hold or via membership of a professional or trade body. Other than where such insurance was arranged through us you will need to advise us of any such insurance cover that you have. You will remain liable for our fees regardless of whether all or part are liable to be paid by your insurers.
We will bill at appropriate intervals and our invoices will be due for payment upon presentation unless otherwise stated. Our fees are exclusive of VAT which will be added where it is chargeable. Any disbursements we incur on your behalf and expenses incurred in the course of carrying out our work for you will be added to our invoices where appropriate.
We reserve the right to charge interest on late paid invoices at the rate of 5% above bank base rates under the Late Payment of Commercial Debts (Interest) Act 1998, as amended with the Late Payment of Commercial Debts Regulations 2002. We also reserve the right to suspend our services or to cease to act for you on giving written notice if payment of any fees is unduly delayed. We intend to exercise these rights only where it is fair and reasonable to do so.
If you do not accept that an invoiced fee is fair and reasonable you must notify us within 21 days of receipt, failing which you will be deemed to have accepted that payment is due.
We will only assist with the implementation of our advice if specifically instructed and agreed in writing.
11. Intellectual property rights
We will retain all copyright in any document prepared by us during the course of carrying out the engagement save where the law specifically provides otherwise.
If any provision of this engagement letter or enclosed schedules is held to be void, then that provision will be deemed not to form part of this contract and the remainder of this agreement shall be interpreted as if such provision had never been inserted.
In the event of any conflict between these terms of business and the engagement letter or appendices, the relevant provision in the engagement letter or schedules will take precedence.
13. Internal disputes within a client
If we become aware of a dispute between the parties who own or are in some way involved in the ownership and management of the business, it should be noted that our client is the business and we would not provide information or services to one party without the express knowledge and permission of all parties. Unless otherwise agreed by all parties we will continue to supply information to the business address and/or registered office for the attention of the directors. If conflicting advice, information or instructions are received from different directors/principals in the business we will refer the matter back to the board of directors and take no further action until the board has agreed with the action to be taken.
We may be introduced to you by another professional who you may know. This introduction should not convey any pressure on you to engage with us for providing professional services. As a result of any introduction made, an introducer’s fee may be payable by us to the introducer. The introducer may be required to disclose details of any introducer’s fee to you under the guidelines of the professional body under which they are required to operate.
15. Investment advice (including insurance mediation services)
Investment business is regulated under the Financial Services and Markets Act 2000 and as amended by the Financial Services Act 2012 and the Bank of England and Financial Services Act 2016. If, during the provision of professional services to you, you need advice on investments, including insurances, we may have to refer you to someone who is authorised by the Financial Conduct Authority or licensed by a Designated Professional Body as we are not authorised to give such advice.
Insofar as we are permitted to do so by law or professional guidelines, we reserve the right to exercise a lien over all funds, documents and records in our possession relating to all engagements for you until all outstanding fees and disbursements are paid in full.
17. Limitation of liability
We will provide our services with reasonable care and skill. Our liability to you is limited to losses, damages, costs and expenses directly caused by our negligence or wilful default.
Exclusion of liability for loss caused by others
We will not be liable if such losses, penalties, surcharges, interest or additional tax liabilities are caused by the acts or omissions of any other person or due to the provision to us of incomplete, misleading or false information or if they are caused by a failure to act on our advice or a failure to provide us with relevant information.
Exclusion of liability in relation to circumstances beyond our control
We will not be liable to you for any delay or failure to perform our obligations under this engagement letter if the delay or failure is caused by circumstances outside our reasonable control.
Exclusion of liability relating to the discovery of fraud etc.
We will not be responsible or liable for any loss, damage or expense incurred or sustained if information material to the service we are providing is withheld or concealed from us or misrepresented to us. This applies equally to fraudulent acts, misrepresentation or wilful default on the part of any party to the transaction and their directors, officers, employees, agents or advisers.
This exclusion shall not apply where such misrepresentation, withholding or concealment is or should (in carrying out the procedures which we have agreed to perform with reasonable care and skill) have been evident to us without further enquiry beyond that which it would have been reasonable for us to have carried out in the circumstances.
Indemnity for unauthorised disclosure – You agree to indemnify us and our agents in respect of any claim (including any claim for negligence) arising out of any unauthorised disclosure by you or by any person for whom you are responsible of our advice and opinions, whether in writing or otherwise. This indemnity will extend to the cost of defending any such claim, including payment at our usual rates for the time that we spend in defending it.
You agree that you will not bring any claim of a kind that is included within the subject of the limit against any of our principals, directors or employees on a personal basis.
18. Limitation of Third Party rights
The advice and information we provide to you as part of our service is for your sole use and not for any third party to whom you may communicate it unless we have expressly agreed in the engagement letter that a specified third party may rely on our work. We accept no responsibility to third parties, including any group company to whom the engagement letter is not addressed, for any advice, information or material produced as part of our work for you which you make available to them. A party to this agreement is the only person who has the right to enforce any of its terms and no rights or benefits are conferred on any third party under the Contracts (Rights of Third Parties) Act 1999.
19. Period of engagement and termination
Unless otherwise agreed in the engagement covering letter our work will begin when we receive your implicit or explicit acceptance of that letter. Except as stated in that letter we will not be responsible for periods before that date.
Each of us may terminate this agreement by giving not less than 30 days’ notice in writing to the other party except where you fail to cooperate with us or we have reason to believe that you have provided us or HMRC with misleading information, in which case we may terminate this agreement immediately. Termination will be without prejudice to any rights that may have accrued to either of us prior to termination.
In the event of termination of this contract, we will endeavour to agree with you the arrangements for the completion of work in progress at that time, unless we are required for legal or regulatory reasons to cease work immediately. In that event, we shall not be required to carry out further work and shall not be responsible or liable for any consequences arising from termination.
20. Professional Indemnity Insurance
We will have professional indemnity insurance cover in place at all times to meet our normal business needs and in accordance with the appropriate professional guidelines.
The current insurance is provided by Beazley Solutions Ltd acting on behalf of Beazley Syndicate 2623/ 623 at Lloyd’s and the policy number is BUK/20985. They can be contacted at Plantation Place South, 60 Great Tower Street, London EC3R 5AD.
21. Reliance on advice
We will endeavour to record all advice on important matters in writing. Advice given orally is not intended to be relied upon unless confirmed in writing. Therefore, if we provide oral advice (for example during the course of a meeting or a telephone conversation) and you wish to be able to rely on that advice, you must ask for the advice to be confirmed by us in writing.
22. Retention of papers
During the course of our work we may collect information from you and others relevant to your affairs. We will return any original documents to you if requested.
Whilst certain documents may legally belong to you we may destroy correspondence and other papers that we store, electronically or otherwise, which are classified by our records as more than 6 years old, however maintaining compliance with the retention of records requirements as outlined within the General Data Protection Regulations. You must tell us if you require the return of any records within this period or retention of any specific documents for a longer period.