General Terms & Conditions
1. Sjiem Fat & Co, also to be named “the Firm” hereinafter, is a professional corporation with limited liability.
2. These General Terms & Conditions shall be applicable to any and all assignments the clients of Sjiem Fat & Co. give the Firm, the shareholders of the Firm, or their directors, or the Firm’s employees.
3. Any and all assignments shall be deemed to have been given to, and accepted by the Firm. The directors, as well as those in the employment of the Firm, shall not be bound or liable personally, and the assignment shall not end by their death, irrespective of whether the assignment was granted with a view to a certain person.
4. In the event of engaging third parties not belonging to its organization, Sjiem Fat & Co. will exercise due care and (except for assistance by attorneys of record and process servers) it will consult with the client on the selection of these third parties as much as is reasonably possible. Any and all liability for shortcomings of these third parties shall be excluded.
5. Any and all liability of Sjiem Fat & Co. shall be limited to the amount paid in the case in question under the applicable professional liability insurance obtained by Sjiem Fat & Co., increased by the amount of the deductible applicable under the insurance, or, if the Firms so elects, shall be limited to an amount equal to 250% of the legal fees due to the Firm in connection with the assignment in question.
6. The execution of the assignments given shall exclusively take place for the benefit of the client. Third parties cannot derive any rights from the execution of the work and services carried out for the client.
7. Without prejudice to the provision under 3, these General Terms & Conditions are also stipulated in behalf of the shareholders of Sjiem Fat & Co., as well as the directors, and of all those who are in the employment of the Firm.
8. The legal relationship between the client and Sjiem Fat & Co. is subject to Aruban law. Any and all disputes arising from this legal relationship shall be settled exclusively by the competent judge in Aruba.
9. Sjiem Fat & Co is subject the State Ordinance for the Prevention and Combating of Money Laundering and Terrorist Financing (AB 2011 no 28) which requires all legal professionals to perform in-depth due diligence checks, monitor the professional relationship and keep client identity information up to date under the circumstances mentioned in the State Ordinance. Accordingly, Sjiem Fat & Co may make enquiries as to the source of assets, the beneficial owner and request to supply the firm with certain documents.