FINANCIAL INTELLIGENCE CENTRE ACT, 38 OF 2001
South Africa has enacted laws centred around combatting money laundering and organised crime in the region. De Beer Attorneys Incorporated supports this legislation. As a result, it requires a certain standard of compliance from its clientele, which we have summarised below for your convenience.
"To establish a Financial Intelligence Centre and a Money Laundering Advisory Council to combat money laundering activities and the financing of terrorist and related activities; to impose certain duties on institutions and other persons who may be used for money laundering purposes and the financing of terrorist and related activities; to amend the Prevention of Organised Crime Act, 1998, and the Promotion of Access to Information Act, 2000; and to provide for matters connected therewith."
As a registered and compliant legal institution operating in the region, in terms of FICA and its related body of legislation, De Beer Attorneys Incorporated is an "accountable institution" and as such, we are obliged to adhere to the stringent requirements laid out in such legislation. We adhere to all the obligations imposed by FICA and its regulations.
1. To establish and verify the identity of our clients;
2. To keep a record of business relations and transactions;
3. To report receipt of cash above a prescribed amount to the Financial Intelligence Centre;
4. To report suspicious transactions to the Financial Intelligence Centre;
5. To implement internal rules consistent with our obligations under the Act;
6. To offer compulsory FICA training to all our employees; and
7. To appoint a compliance officer.
To serve the national and international community, it is incumbent upon us to gather this information from our clientele - our firm cannot comply with this legislation without your help. While we appreciate that this process is inconvenient, please rest assured that we are willing to assist our clients in any way necessary to facilitate this tedious process.
We reserve the right to defer acceptance of instruction(s) from any client(s) pending receipt of the required information and/or documentation as prescribed by the Act.
Should you have any questions or concerns related to our client identification and verification protocol, please feel free to send us an email detailing your concerns at firstname.lastname@example.org - we will be happy to engage with you.
Download a copy of The Financial Intelligence Centre Act 38 of 2001 here.
Please see the terms of our De Beer Attorneys FICA agreement below;
GENERAL TERMS & CONDITIONS:
1. INTRODUCTION: These standard terms and conditions (''Terms") are to be read together with the terms (if any) as expressly agreed in writing between the Parties. These Terms apply to the provision of services as specifically agreed between the Parties as set out in a Pro Forma invoice and/or as agreed between the Parties in writing. Where the Pro Forma Invoice is accepted by a Client, the Pro Forma Invoice jointly with these Terms shall constitute the agreement ("Agreement") between De Beer Attorneys and the Client
2.1: "Client" means the entity indicated as the Account Holder as indicated in the above New Client Form;
2.2 "Proposal" means the scope of work agreed between the Parties and/or Pro Forma invoice which is sent to the Client, in response to an enquiry by the Client;
2.3 "Services" means those services which De Beer Attorneys shall provide to the Client as agreed between the Parties; and
''Time Basis" means the basis on which De Beer Attorneys shall charge the Client for the Services (if a fixed price is not stipulated beforehand) and which is based on the time spent by professional staff, any/all materials utilized to execute the Services and any/all relevant disbursements incurred on behalf of the Client, including the time spent travelling by the professional staff of De Beer Attorneys, in the rendering of the Services.
3. RENDERING OF SERVICES: The scope of work to be performed and to which these terms and conditions shall apply shall be those services ("Services") as more fully stipulated in the Pro Forma Invoice and/or as agreed between the Parties in writing. The Services to be rendered by De Beer Attorneys to the Client will be accepted by the Client upon delivery of documentation to the Client, completion of the applicable milestone for the Client and/or rendering of the Service by De Beer Attorneys, as the case may be.
4. LIABILITY: Neither Party shall be liable for any indirect, special or consequential damages of any kind, whether for loss of profit, loss of business, loss of goodwill or loss of use of data, interruption of business, under or arising out of this Agreement or the provision of Services, whether caused contractually, delictually or otherwise and whether caused directly or indirectly. In no event shall De Beer Attorney's total aggregate liability for direct damages exceed the amount as stipulated in the accompanying Pro Forma Invoice and/or the amount as stipulated in the applicable invoice generated by De Beer Attorneys for the Services rendered.
5. PRICING AND PAYMENT TERMS:
5.1 GENERAL: The prices reflected in the Pro Forma Invoice are a deposit only, and are required to be provided by the Client, for De Beer Attorneys to start rendering the Services and are determined as a portion of the estimated professional fees. The Pro Forma Invoice and any subsequent invoiced issued by De Beer Attorneys is based on inter alia rates of exchange, interest and taxation rates, courier charges (if any), insurance, costs of Third Parties including other service providers and/or government organizations and other charges ruling at the date of the issuance invoice and are subject to change, at any given time. Any variation in any of the aforesaid rates and/or charges occurring after the date of the invoice shall entitle De Beer Attorneys to vary the amount payable by the Client after the issuance of the invoice. The amount stipulated on an invoice may also be exclusive, at the time of issuance, of any applicable tax(es), additional bank charges and/or disbursements which may form the subject of a subsequent invoice.
5.2 DEPOSIT: For local, South African clients, we normally require payment of a portion of the estimated professional fees upfront, before commencing formal instructions. We may be prepared to make certain indulgences in respect of our deposit policy, if set out accordingly in our Pro Forma Invoice and/or agreed-to writing between the Parties. In this regard, we may, for example, agree to a split of 50% of the estimated fees upfront with the rest becoming immediately payable upon the presentation of our invoice and/or upon completion of the work. Deposits are payable into our Trust Account The details of our Trust Account will be forwarded upon receiving formal instructions or upon issuance of the Proposal.
5.3 IF SERVICE RENDERED ON A FIXED COST BASIS If agreed between the Parties in writing, work will be rendered by De Beer Attorneys on a "Fixed Cost" basis. In these instances, the price stipulated in the Pro Forma Invoice shall remain fixed for the duration of the Service. Work shall be performed against Service milestones and payment shall be made upon completion and/or partial completion of specific milestones or payment schedules, at the price or in the manner stipulated in the Pro Forma Invoice. Please note that variations in the final amount invoiced may vary, based upon any tax(es) that may be applicable, unforeseen professional time being spent on the matter and/or unforeseen disbursements being incurred on behalf of the Client, in the rendering of the Services. The final amount due and owing by the Client, which is based on the aforementioned variations, will immediately become due and payable by the Client upon the issuance of an invoice in respect thereof, to the Client.
5.4 IF SERVICES RENDERED ON A TIME BASIS For professional services rendered where a fixed cost is not specified and/or formally agreed to in writing between the Parties beforehand, the Client will be invoiced on a time and materials basis. In such an instance, any amount(s) indicated in the Pro Forma Invoice, shall be regarded as an estimation of a portion of the expected professional fees and/or disbursements to be incurred on behalf of the Client, by De Beer Attorneys in the rendering of the Services. All man-hours worked by De Beer Attorneys' professional staff shall be invoiced at an hourly rate of between R2800
(US$216) (exclusive of VAT) and R1800 (US$138) (exclusive of VAT) per hour, depending on the seniority of the attorney involved, or as otherwise stipulated in the Pro Forma invoice and/or agreed to in writing between the Parties. Upon request, during office hours, the Client shall have access to reasonable details with regard to the hours and costs incurred by De Beer Attorneys to date in the completion of the Services, in order to allow the Client to closely manage the cost of the Services. For Services rendered on a Time Basis, De Beer Attorneys shall submit invoices to the Client from time to time unless otherwise agreed to in writing between the Parties. The Client will provide payment of an invoice by De Beer Attorneys, immediately upon receipt thereof.
6. DEADLINES: If a matter is subject to a deadline, the Client is obligated to inform De Beer Attorneys in writing of such deadline by which you require completion of your matter or instruction. In the course of completing instructions, in particular, those related to Patent, Registered Design and Trademark applications, we are dependent on the efficiency of the relevant government institution/s as well as the turn-around time of our foreign associates (if applicable). We are also always dependent on the availability of reliable infrastructure including those of local or international postal or courier services, electricity suppliers and the like. We commit to the best turn-around times possible but cannot guarantee turn-around times where we are dependent on input or facilities supplied by Third Parties. In this regard, please note that the registration process in South Africa as regards patents, designs and trademarks is ordinarily a lengthy process, even when unforeseen delays are not at play.
7. PERSONAL DATA: The Client hereby agrees to promptly provide us with additional details to comply with all of the requirements under applicable anti-money laundering legislation in South Africa (i.e. FICA) when called upon to do so. De Beer Attorneys respects the privacy of our clients. And confirm that the personal information of our clients will be held strictly confidential and will not be sold or otherwise provided to third parties unless required by law. We will also make our best efforts to secure your information on our systems.
8. NEWSLETTER: The Client hereby confirms that they would like to receive newsletters from our firm from time to time. These newsletters include information relating to our firm, which may improve your rights or legal developments which may be relevant to your business. You will always have the option to unsubscribe from any electronic newsletters we may send you.
9. CONTACT DETAILS: The Client hereby agrees to provide De Beer Attorneys with their most recent contact details and hereby certify that the contact details provided are correct and accurate. You agree to inform us of any changes in the above contact details within a reasonable time of such changes having taken place. In the event that your contact details have changed, and after taking reasonable steps to locate you for a period of 6 months (including via email, registered post, telephone, fax and/or email contacts as well as searches on the Internet and Company Register) we reserve the right to cease rendering services and to formally or informally withdraw as "Address for Service" without further notification to yourselves.
10. UNPAID INVOICES: If invoices are not paid promptly, we reserve the right to immediately cease rendering services, cease incurring costs on your matters, withdraw as attorneys of record at any time, and take legal action against you to recover such payments. If any steps are taken for recovery of any amount, you agree to pay such costs of such court proceedings on a clientattorney scale as well as any other costs related to the recovery of your outstanding amount.
11. INTEREST ON UNPAID INVOICES: If invoices are not paid and settled in full by the due date as indicated on the invoice, we reserve the right to immediately charge interest at a rate of 2% per month until such time that the invoice has been settled in full in accordance with Section 8(4) and 103(2) of the National Credit Agreement.
12. AGREEMENT: The terms of this document constitute the basis of our engagement and the signed document is a valid agreement between our firm and the instructor indicated above. You, the signatory hereof, confirm that you are duly authorized to bind the instructor indicated above to these terms and agreement. These terms of engagement are also published on our website located at http://www.debeerattorneys.com and may be updated from time to time.