1. GENERAL PROVISION

 

  • These General Terms and Conditions shall be applicable to all services provided to any legal entity and/or
    individual person (hereinafter referred to as “Client”) by Libra Trust These General Terms and Conditions set up the
    main terms and conditions for providing Service to the Client by Libra Trust AG and its affiliated companies
    (hereinafter the “Service Provider”);
  • The rights and responsibilities of the Service Provider and the Client (hereinafter together referred to as the
    Parties) specified in these General Terms and Conditions (hereinafter referred to as the Terms) arise from the
    Standard Service Agreement signed between the Parties;
  • By signing the Standard Service Agreement, the Client confirms that it is familiar and agrees with these Terms and
    accepts them in full;
  • Any reference to these Terms, or any provisions of these Terms shall be construed as a reference to that provision
    as amended, re-enacted or extended at the relevant time;
  • These Terms may be revised at any time by the Service Provider. The relevant Terms shall be provided to the Client
    under its request;
  • All provisions in these Terms as well as any other conditions agreed upon with the Client are stipulated for and
    may be relied upon by Libra Trust AG and by any individuals and/or legal entities associated or formerly associated
    with Libra Trust AG or involved in the provision of services by or on behalf of Libra Trust AG in any manner, as
    well as by their legal successors. They may invoke any of these provisions with regard to Client and, where
    appropriate, any reference to Libra Trust AG should be read as a reference to the person and/or legal entity
    concerned. In the performance of their professional work, these persons shall act exclusively for the account and
    risk of Libra Trust.

 

  1. PROVISION OF SERVICES

 

  • All Service Agreements (in any form whatsoever) shall be deemed to have been concluded under the applicability of
    these Terms at the moment that the Service Provider commenced provision of the services;
  • Under the Act on prevention of money laundering and terrorist financing, the Service Provider is obliged to
    establish the identity of the Client and of the ultimate beneficial owner(s) and to notify the competent authorities
    of any unusual transactions as referred to in this Act. The Service Provider is obliged to disclose aggressive tax
    planning arrangements with a cross-border dimension with the competent authorities;
  • At all times, the Service Provider may decide for whatever reason not to enter into a Service Agreement or to
    terminate any Service Agreement with any Client with immediate effect, including in the event that, in the Service
    Providers’ sole opinion, the outcome of Client acceptance procedures carried out by the Service Provider in the
    framework of its statutory obligations, gives grounds to such decision;
  • The services shall be provided exclusively for the Client. Third Parties may not derive any rights from the
    content of the Service Agreement, nor from the work performed, even if they can be considered an interested party
    either directly or indirectly in the result of the work. The Service Provider shall accept no liability towards
    third parties for work performed for the Client;
  • The Service Provider shall provide and perform the Services on the terms and conditions of these Terms and the
    Agreement and will do so:

    • in compliance with all applicable laws, regulations, codes of practice and professional standards;
    • with reasonable skill and care;
    • in accordance with the terms of the Agreement and the Terms,
      in accordance with good professional practice.

 

  1. SERVICES

 

  • Company formation.
    • share capital bank account introduction (banks fees are not included);
    • drafting of Statutes and bylaws;
    • providing registration of company in the commercial register;
    • certified copies of the certificate of incorporation, statutes and bylaws;
    • support of service manager at all stages of company formation.

Notary fees and fees from the register of commers are not included.

  • Registered address (c/o);
  • Registered address (flexi desk);
  • Legal services;
  • Assistance in preparing documents for opening a corporate bank account;
  • The Service Provider does not guarantee approval of the application, as the banks have their own compliance
    and due diligence procedures and make an independent decision, which cannot be influenced by 3rd parties;
  • All annual fees are subject to renewal once a year, all extra work out of Service packages shall be charges
    separately based on hourly rates;
  • Other services may be provided by the Service Provider at the request of the Client based on standard rates of the
    Service provider without conclusion of a separate Agreement or Addendum;
  • Payment terms: 100% advance payment if otherwise is not agreed by the Parties;
  • Where the fees are to be calculated on a time and materials basis, the Service provider may increase those fees on
    giving a notice to the Client;
  • Any sums stated in the Agreement, Addendum or Terms are expressed exclusive of VAT and all other taxes which,
    where applicable, will be added and payable by the Client in addition.

 

  1. TERMS OF PAYMENT

 

  • Payment must be made without deduction, discount, or set-off by deposit or transfer to the bank account stated on
    the invoice within 7 (seven) days after the invoice date;
  • The Service Provider must be notified as soon as possible by the Client of any objections, but no later than five
    days after invoice date, with payment of the uncontested part of the invoice;
  • If the Client has not paid within the period stated above, or within a different period agreed between the
    parties, the Client shall be in default without further notice and the Service provider shall be entitled to charge
    the statutory commercial interest from that moment;
  • The Service provider shall be entitled to adjust its hourly rates periodically;
  • The Service Provider shall in all cases be entitled to suspend the work assigned to it if invoices older than
    sixty days have not been paid;
  • In the case of termination of the contract on the initiative of the Client, when prepayment for 1 (one) year was
    made, the payment under the contract is not refundable.

 

  1. LIABILITY

 

  • Any liability on the part of the Service Provider shall be limited to the amount paid out;
  • The Service Provider shall not be liable for any trading loss or indirect or consequential damage sustained by
    Client or third parties;
  • The Client shall be obliged to indemnify and compensate the Service Provider in the event of any claims by third
    parties – including shareholders, directors, supervisory directors, and persons in the service of the Client, as
    well as affiliated legal persons and companies, and other persons involved in Client’s organisation – arising from
    or related to the activities of the Service Provider for the Client;
  • The Client undertakes to provide full and accurate information without undue delay, needed for bookkeeping,
    preparation of the financial statements and tax returns, and the Service Provider relies on the information and
    documents, rendered by the Client while providing Services;
  • The Client is obliged to immediately notify the Service Provider about all changes in the company (e.c. change of
    address, change of shareholders, moving to another canton, birth of child for him and his employees, that affects
    the payroll or other taxes, etc) and is duly responsible for  any negative consequences occurred in case of
    non-provision or failure to provide of such notifications on timely manner;
  • The Client signing this Agreement releases the Service Provider from any liability if such occurs due to the
    Client´s failure to provide the Service Provider with full and accurate information and documents, needed for
    bookkeeping, tax return and financial statements. The Client agrees to hold full liability, including financial
    responsibility in case of fines or sanctions against the Company in connection with such failure.

 

 

  1. PERSONEL

 

  • The Service Provider shall use its reasonable endeavours to ensure that the same personnel provide the Services in
    order to maintain consistency and build a relationship with the Client.
    The Client shall not at any time during the term of the Agreement or for a period of 6 months following its expiry
    or termination employ or solicit for employment or engage on any
    basis any member of the Service Provider’s personnel (whether employed or engaged on some other basis by the Service
    provider).

 

  1. OBLIGATION OF THE CLIENT

 

  • The Client shall provide the Service Provider with information and documents as the Service Provider shall
    reasonably require in order to provide the Services.
    The Client shall make such decisions and provide such instructions as the Service Provider shall require and at the
    time that the Company requires to enable the Service Provider to provide the Services;
  • The Client acknowledges that the Service Provider’s ability to provide the Services and to meet any timeframe
    agreed for the provision of the Services is dependent on the Client providing that information and access and
    providing those decisions and instructions at the times required by the Service Provider.

 

  1. CONFIDENTALITY

 

  • The Service Provider and the Client may during the course of the Agreement and in connection with the Services
    obtain information relating to the other party which is not made available
    generally by that other party (“Confidential Information”);
  • The receiving party shall:
    • keep all Confidential Information confidential and not disclose it to any person (save as required by law);
      and use the Confidential Information only for the purpose for which it was provided and for no other purpose.

 

  1. DATA PROTECTION   

     

  • Both parties will comply with all applicable requirements of the Data Protection Legislation. This is in addition
    to, and does not relieve, remove or replace, a party’s obligations under
    the Data Protection Legislation;
  • The parties acknowledge that for the purposes of the Data Protection Legislation, the Client is the data
    controller and the Service Provider is the data processor (where “Data Controller” and
    “Data Processor” have the meanings as defined in the Data Protection Legislation);
  • The Client will ensure that it has all necessary appropriate consents and notices in place to enable lawful
    transfer of the personal data to the Service Provider for the duration and purposes of
    the Agreement.

 

  1. ENTIRE AGREEMENT

 

  • The Agreement, Addendums to the Agreement and these Terms, together with privacy policy, constitute the entire
    Agreement between the Client and the Service Provider.

 

  1. JURISDICTION AND APPLICABLE LAW

 

  • All agreements between Client and the Service Provider shall be governed exclusively by Swiss law;
  • Unless parties explicitly agree otherwise in writing, all disputes relating to agreements between the Client and
    the Service Provider shall be brought before the competent court in Zug, Switzerland.