General Terms of Engagement

This document sets forth our general Terms of Engagement intended solely for information purposes. It is not to be construed as an exhaustive list or as an irrevocable undertaking to any prospective Client.

1. Scope of Services. Team.

The scope of work shall be discussed in detail with the Client and concrete tasks shall be identified. Depending on the nature of identified tasks the matter is to be assigned to a team of professionals with a carefully selected blend of expertise and corresponding language skills. Usually the team works under the management and supervision of a partner that is involved permanently or from time to time, as circumstances may require. The Client is notified of the name of a contact person within the team who keeps him informed of all developments.

Our performance of services is dependent on the Client’s carrying out his responsibilities as set out below:

 

2. General Quality Standards.

Unless otherwise agreed with the Client, our services shall be based on duly promulgated Bulgarian legislation that is in force as of the date of the provision of the services. Upon request we are also able to provide services based on draft-laws, EC and foreign law.

3. Fee Arrangements.

We generally charge for our services based on the time devoted to the matter by applying hourly fees in accordance with the expertise and seniority of each team member. In some instances where it is possible to calculate the amount of time that a particular matter will require we may upon request estimate the likely overall cost of engagement or stipulate a cap fee which cannot be exceeded save with the Client’s prior consent. In some special cases, e.g. major deals, litigation and arbitration, we often base our fees on the outcome.

Our quoted fees include expenses for telephone, fax and up to 3 pages of translation from/into English. Other expenses, such as business trips in the country and abroad shall be covered by the Client separately.

Upon entering a new engagement we may require an advance to be held with us and applied to expenses and fees as they accrue.

Our invoices are payable within 30 days of issuance. In the event of delayed payment or other material breach of the Client’s obligations we reserve the right to suspend our services at any time.

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