Terms and Conditions

1Introduction

These terms and conditions apply to every matter/engagement undertaken by Summ, CVR number (Danish company registration number) 33884559, unless otherwise agreed in writing. Summ is organised as a private limited company (anpartsselskab, ApS). Our general contact details are as follows:

2The engagement

When we take on a new engagement, we prepare a client agreement. The agreement sets out our understanding of the engagement, our obligations and those of the client, the services we expect to deliver, which partners and other staff will be involved in the matter, the applicable rates for each individual, and an overall estimate of fees and services. We estimate the total fee based on the expected workload. If the nature of the engagement changes, we will inform the client of the revised terms.

3Identity information

Summ is subject to the Danish Anti-Money Laundering Act (hvidvaskloven), which requires us to obtain and retain identity information for all clients. All clients are registered in the AML system Creditro and undergo KYC verification.

4Fees

Our fees are set on the basis of a specific assessment that takes into account:

• The service delivered
• Time spent
• The number of documents and bank transactions
• Who contributed to completing the engagement
• The complexity of the engagement
• Whether the engagement required work under significant time pressure
• The degree of responsibility associated with carrying out the engagement

Our fees are exclusive of relevant expenses and costs. We reserve the right to charge additional fees if the workload exceeds what was agreed.

5Payment and advance payment

We typically issue an invoice when the engagement begins. For larger or longer-running engagements, fees are invoiced monthly in arrears unless otherwise agreed. We reserve the right to require advance payment for matters where, in our assessment, the nature of the engagement makes this necessary. Payment terms are 8 days from the invoice date, and VAT is added in accordance with Danish VAT rules.

6Direct debit agreement

We reserve the right to collect our fees through a direct debit agreement (Leverandørservice) and to establish a debtor mandate for all our clients.

7Price adjustment

We reserve the right to adjust the fees for our services annually in line with a specified price index.

8Obligations

All clients are expected to provide documents, records and materials for our work in digital form. Clients are also expected to submit their documents regularly, on a monthly basis, in connection with our work. If a client does not meet the deadline for monthly submission of documents, we reserve the right to charge an additional fee as compensation for any delays arising from the late submission of documentation.

9Termination of the client relationship

On termination of a client relationship, the notice period will always run to the end of the current quarter, so that we can complete the work and invoice for the services performed, unless otherwise agreed in writing.

10Onboarding fee

We reserve the right to charge an onboarding fee to cover the costs associated with onboarding new clients.

11Confidentiality

All information received in connection with an engagement is treated as confidential, unless the circumstances clearly indicate otherwise.

12Use of our services

Our services are tailored to the specific engagement and may not be used for other purposes without our express prior approval. Unless otherwise agreed, we are responsible only to the client for the advisory services delivered. The client is entitled to use the specific written material we have prepared for a given engagement, while Summ retains all copyright and other intellectual property rights in the material.

13Document retention

Summ carries out the engagement until its natural conclusion or until the client requests that the matter be closed. Documents are typically returned no later than the conclusion of the engagement, and we retain documents for at least five years from the invoice date. For information on retention, deletion, data access etc., please refer to our data processing agreement.

14Governing law and jurisdiction

Any dispute between the client and Summ shall be resolved in accordance with Danish law before a competent Danish court.

In case of any discrepancy, the Danish version prevails.