Terms of Engagement

Fees
We generally charge at our standard hourly rates (available on request) for the time spent on a project. However, we are open to agreeing other fee arrangements in writing with clients. We may alter our standard hourly rates depending on urgency, complexity, value or other factors. All hourly rates are reviewed periodically and, accordingly, these may increase during a project.

Estimates
If requested, written estimates of fees will be provided before work commences. Estimates are provided as a guideline only and final fees charged will be based on our standard hourly rates unless otherwise agreed in writing. All estimates are exclusive of goods and services tax and disbursements unless otherwise stated.

Quotations
In certain circumstances quotations will be provided. Any quotation provided will be recorded in writing and clearly labelled as a quotation, not an estimate. All quotations are exclusive of goods and services tax and disbursements unless otherwise stated.

Billing
Our usual practice is to bill our clients on a monthly basis. All invoices will be the responsibility of our Client irrespective of whether there is an agreement in place for some other party to be responsible for our Client's costs such as occurs with landlords, lenders, and by agreement between our clients and third parties. Payment of our accounts is required 14 days following the date of the invoice. We include in all our invoices a flat fee to cover incidental office services such as routine phone calls, couriers and photocopying. Larger expenses will be itemised separately and we may require payment of these in advance

Default
Without prejudice to all of our recovery rights, overdue accounts will incur penalty interest at the rate of 2% per month or part month. We reserve the right to stop work on our Client's affairs where accounts are overdue. All collection costs (including our legal fees at standard hourly rates) will be to our Client's account. If more than one Client, each agrees to extend the normal solicitor's lien to cover amounts owing from any Client. In addition, in the event of default, we may deduct any amount outstanding plus penalty interest accrued, from any amount held by us on our Client's account (whether as a retainer or on deposit) and/or refer the matter to a debt collection agency, which will affect credit ratings.

Retainer/Guarantee
For new clients, usually a retainer will be required before we commence work (and we may also require a guarantee from a corporate client's shareholders). We will hold the retainer in our trust account on interest bearing deposit (interest to our Client's account) until the conclusion of the project. Until then, all monthly invoices are to be paid on the due date until the completion of that project, failing which, we may deduct the amount outstanding from the retainer and require further funds to be deposited. The retainer (or any balance) will be applied against the final account, with any surplus being refunded to our Client.

Monies Held
Other than as set out above or otherwise agreed in writing, all monies held by us will be held in accordance with our investment terms (copy available on request or on our website at www.lojo.co.nz).

Confidentiality
In addition to our ethical obligations of confidentiality, all information obtained is held by this firm subject to the provisions of the Privacy Act 1993 to enable us to provide legal and ancillary services to our Client. In doing so, we may from time to time provide newsletters and other material that we consider to be of interest to clients (in hardcopy or electronically). Our Client authorises us to conduct credit checks with, and obtain credit and other personal information from, credit agencies and to provide personal information to those agencies, at any time.

Audit
Our firm may be subject to regular audit by an auditor approved by the New Zealand Law Society and by an auditor certified by JAS - ANZ for the purpose of maintaining our ISO 9001 Certification. Unless otherwise agreed, our Client consents to the disclosure of information necessary to enable completion of such audits.

Future Instructions
Unless otherwise agreed in writing, these terms, having been handed, sent or referred to our Client, will apply to all instructions received from our Client including matters currently in train and future instructions. We may revise these terms from time to time and the revised terms will apply to any instructions we receive after they have been handed, sent or referred to our Client.

Note:
This is a commercial contract between Lowndes Jordan and our Client; we are therefore unable to give you legal advice as to its effect and any legal advice you require will need to be taken independently.

Guarantee

Client:

Guarantor(s):

In consideration of Lowndes Jordan extending credit to our above-named Client, the above named Guarantor(s) (and if more than one, each of them jointly and severally) personally undertake(s) to Lowndes Jordan that: