These Standard Terms of Engagement (Terms) apply in respect of all work carried out by us for you, except to the extent that we otherwise agree with you in writing.
1. Services
The services which we are to provide for you are outlined in our engagement letter.
2. Financial
2.1 Fees:
a. The fees which we will charge or the manner in which they will be arrived at, are set out in our engagement letter and will be in accordance with the Law Society’s Rules of Conduct and Client Care for Lawyers.
b. If the engagement letter specifies a fixed fee, we will charge this for the agreed scope of our services. Work which falls outside that scope will be charged on an hourly rate basis. We will advise you as soon as reasonably practicable if it becomes necessary for us to provide services outside the agreed scope and if requested, give you an estimate of the likely amount of the further costs.
c. Where our fees are calculated on an hourly basis, the hourly rates are set out in our engagement letter. The differences in those rates reflect the experience and specialization of our professional staff. The hourly rates are reviewed and may be amended from time to time without reference to you. Time spent is recorded in 6 minute units, with time rounded up to the next unit of 6 minutes.
2.2 Disbursements and expenses:
a. In providing services we may incur disbursements or have to make payments to third parties on your behalf. These will be included in our invoice to you when the expense is incurred. We may require you an advance payment for the disbursements or expenses which we will be incurring on your behalf. If you make payment into our trust account, you authorise us to make payment on your behalf to cover these disbursements.
b. We may charge research fees if required for cases. (i.e. Document order fee – $15 including GST per each document ordered, Registration fee – $25 including GST per each registration.)
c. We charge an additional office expense fee to cover photocopying, phone calls, fax, postage, filing, and other incidental office expenses.
2.3 GST (if any): Is payable by you on our fees and charges.
2.4 Invoices: We will send interim invoices to you, usually monthly and on completion of the matter, or termination of our engagement. We may also send you an invoice when we incur a significant expense.
2.5 Payment: Invoices are payable within 7 days of the date of the invoice, unless alternative arrangements have been made with us. We may require interest to be paid on any amount which is more than 7 days overdue. Interest will be calculated at the rate of 15 % p.a. All costs in relation to the collection of overdue accounts will be added to your account.
2.6 Security: We may ask you to pre-pay amounts to us, or to provide security for our fees and expenses. You authorise us:
a. to debit against amounts pre-paid by you; and
b. to deduct from any funds held on your behalf in our trust account any fees, expenses or disbursements for which we have provided an invoice.
2.7 Third Parties: Although you may expect to be reimbursed by a third party for our fees and expenses, and although our invoices may at your request or with your approval be directed to a third party, nevertheless you remain responsible for payment to us if the third party fails to pay us.
3. Confidentiality
3.1 We will hold in confidence all information concerning you or your affairs that we acquire during the course of acting for you. We will not disclose any of this information to any other person except:
a. to the extent necessary or desirable to enable us to carry out your instructions; or
b. to the extent required by the law or by the Law Society’s Rules of Conduct and Client Care for Lawyers.
3.2 Confidential information concerning you will as far as practicable be made available only to those within our firm who are providing legal services for you.
3.3 We will of course, not disclose to you confidential information which we have in relation to any other client.
4. Termination
4.1 You may terminate our retainer at any time.
4.2 We may terminate our retainer in any of the circumstances set out in the Law Society’s Rule of Conduct and Client Care for Lawyers.
4.3 If our retainer is terminated you must pay us all fees due up to the date of termination and all expenses incurred up to that date.
5. Retention of files and documents
5.1 You authorise us (without further reference to you) to destroy all files and documents for this matter (other than any documents that we hold in safe custody for you) 10 years after our engagement ends, or earlier after a time that is legally defined for each document, or if we have converted those files and documents to an electronic format.
6. Conflicts of Interest
6.1 We have procedures in place to identify and respond to conflicts of interest. If a conflict of interest arises we will advise you of this and follow the requirements and procedures set out in the Law Society’s Rules of Conduct and Client Care for Lawyers.
7. Duty of Care
7.1 Our duty of care is to you and not to any other person. Before any other person may rely on our advice, we must expressly agree to this.
8. Trust Account
8.1 We maintain a trust account with ASB Bank for all funds which we receive from clients (except monies received for payment of our invoices).
8.2 We are obliged under Section 114 of the Layers and Conveyancers Act 2006 where practicable to place client monies, held on behalf, on Interest Bearing Deposit (IBD). All interest is subject to our administration fee of 5 % and applicable withholding tax deductions.
8.3 With the regulation by FATCA/CRS, we are unable to place funds on IBD for you unless you have returned your signed self-certification from provided by ASB Bank. Without the signed form, we cannot deposit your funds into IBD.
8.4 Where the amount of net interest likely to be earned is minimal (less than $100 per transaction), we may consider and decide that it is impracticable to deposit the trust monies into your IBD Account.
9. General
9.1 These Terms apply to any current engagement and also to any future engagement, whether or not we send you another copy of them.
9.2 We are entitled to change these Terms from time to time, in which case we will send you amended Terms.
9.3 Our relationship with you is governed by New Zealand Law and New Zealand Courts have non-exclusive jurisdiction.
10. Regulation by Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS)
10.1 By law, ASB Bank is required to obtain certain information on funds in IBD and provide the information to the Inland Revenue Department (IRD), which may share and exchange the financial information with overseas tax organisations. We are also oblige to supply such information to the IRD, if requested.
10.2 You agree and consent as part of their engagement with us, to the disclosure of your information relating to your funds that are or will be held on IBD to the IRD and bank maintaining your funds.