The following terms and conditions set out the basis of our cooperation for the provision of our services. Please read carefully and ensure that you comprehend the contents hereof before signing the Services Agreement, appointing us as your service provider. Upon signing of the Services Agreement, you are deemed to have understood and accepted in full the Terms and Conditions set forth below.
1. Data Protection and Confidentiality
CosmoServe undertakes to its clients that it will use all reasonable endeavours to keep all information delivered to CosmoServe confidential. CosmoServe in accordance with its statutory obligations protects personal information and personal data from unauthorised access, use or disclosure. CosmoServe reserves the right to treat the obligations of confidentiality as not applicable and may disclose to third parties confidential or personal information and data only when obliged to do so by law. The client also accepts that any transmission of mail via the Internet may be subject to interference of third parties or incorrectly delivered, in such case CosmoServe is not responsible for any loss or damage that could result from this. Without prejudice to the duty of confidentiality, CosmoServe reserves the right to act for other clients such as competitors. Any confidential information that CosmoServe gives to its clients or associates, shall not, without CosmoServe’s prior written approval, be disclosed to third parties, other than to the clients' lawyers or accountants. We require strict adherence by our partners and staff to the ethical rules of our profession, our firm and all related statutory requirements. In all aspects of our practice, our partners and staff maintain a strict standard of confidentiality towards information which is obtained during the course of carrying out our professional duties.
We take all reasonable care to choose reliable and professional associates, however, we do not take any responsibility for any services our associates may provide to our clients, not for any errors or omissions in the work they deliver to them.
CosmoServe’s fees are stated in the Table of Services and Fees as agreed with clients. Our invoices are due for payment thirty days from the date of issue. We reserve the right to charge for costs incurred in recovering late payments and to charge interest. No refunds are given after a service has been processed or when CosmoServe ceases to provide services.
The client agrees to indemnify CosmoServe against all liabilities, claims and expenses that may arise from any breach of the Terms and Conditions by the client.
5. Working for Other Clients
We will not be prevented or restricted by virtue of our relationship with you, including anything in this Terms and Conditions, from providing services to other clients. Our standard internal procedures are designed to ensure that confidential information communicated to us during the course of this assignment will be maintained confidentially.
6. Client Identification
As with other professional firms, we are under stringent requirements to identify our clients for the purposes of anti-money laundering legislation. We are likely to request from you, and retain, some information and documentation for these purposes, and/or make searches of appropriate databases. If satisfactory evidence of your identity is not provided within a reasonable time, there may be circumstances in which we are not able to proceed with rendering our services.
7. Money Laundering Reporting
The provision of corporate, legal, secretarial services is a business in the regulated sector under The Prevention and Suppression of Money Laundering Activities Laws of 1996 to 2004 and as such, our partners and staff are required to report all knowledge or suspicion, or reasonable grounds to know or suspect, that a criminal offence giving rise to any direct or indirect benefit from criminal conduct has been committed, regardless of whether that offence has been committed by their client or by a third party. If, as part of our normal work, we have knowledge or suspicion, or have reasonable grounds to know or suspect, that such offences have been committed we are required to make a report to The Unit for Combating Money Laundering (MOKAS). In such circumstances it is not our practice to discuss such reports with you because of the restrictions imposed by the ‘tipping off’ provisions of the anti-money laundering legislation.
8. Electronic Communications
During our engagement we will from time to time communicate electronically with each other. However, the electronic transmission of information cannot be guaranteed to be secure or virus or error free and such information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete or otherwise be adversely affected or unsafe to use. We recognise that systems and procedures cannot be a guarantee that transmissions will be unaffected by such hazard.
We confirm that we each accept the risks of and authorise electronic communications between us. We each agree to use commercially reasonable procedures to check for the then most commonly known viruses before sending information electronically. We shall each be responsible for protecting our own systems and interests in relation to electronic communications and both yourselves and ourselves (in each case including our respective members, directors, employees, agents or servants) shall have no liability to each other on any basis, whether in contract, tort (including negligence) or otherwise, in respect of any error, damage, loss or omission arising from or in connections with the electronic communication of information between us and our reliance on such information.
The exclusion of liability in the previous paragraph shall not apply to the extent that any liability arises out of acts, omission or misrepresentations which are in any case criminal, dishonest or fraudulent on the part of our respective members, directors, employees, agents or servants.
If the communication relates to a matter of significance on which you wish to rely and you are concerned about the possible effects of electronic transmission you should request a hard copy of such transmission from us. If you wish us to password protect all or certain documents transmitted you should discuss this with us and we will try to make appropriate arrangements.
9. Applicable Law
These Terms and Conditions are governed and shall be construed in accordance with the laws of Cyprus and submit to the exclusive jurisdiction of the Cyprus courts.