Hong Kong and Offshore company formation: Terms of business

Hong Kong and Offshore company formation: Terms of business - 9

9.PAYMENT OF FEES

The Clients irrevocably agree that, if the Entity is a limited liability company and the Alpha Concept Officers are members or officers of that company, or the Entity is a Partnership and the Alpha Concept Officers are members of that partnership, or the Entity is a trust and the Alpha Concept Officers are trustees or protectors of that trust, Alpha Concept may, without being obliged to give notice to the Clients or the Clients’ Appointees, take such steps as they shall in their absolute discretion consider appropriate which shall without prejudice to the generality of the foregoing include having the Entity struck off, dissolved or liquidated; or resigning all or any of the Alpha Concept Officers; or transferring all or any of the shares, capital or assets or liabilities of the Entity into the name of the Clients; or appointing the Clients as a director, officer, manager, trustee or protector of the Entity; or take such other action as they shall in their absolute discretion consider appropriate or as it may be advised.

9.1When the Entity is not a trust or a foundation, the legal ownership of the Entity shall not pass to the Clients until payment in full of all fees, including government duties and taxes, has been received by Alpha Concept. No refunds are given after an order has been processed and no refunds will be made where Alpha Concept ceases to provide the Services.

9.2Alpha Concept will not provide Services until Alpha Concept has received, in full, all fees and disbursements payable in relation to the Entity or the provision of the Services.

9.3The Clients hereby irrevocably authorizes Alpha Concept to withdraw from any sums held on any account managed by Alpha Concept or otherwise held by Alpha Concept, on behalf of the Clients and / or the Entity any monies required to discharge any fees or expenses, including any government fees, duties, taxes or penalties, payable to or by Alpha Concept or the Entity.

9.4Fees are stated in Alpha Concept Fee Schedule, published from time to time, or as may be notified to or agreed with Clients.

9.5Where any fees for Services remain unpaid for more than 90 days, Dicènt may at its discretion immediately terminate the Services, and / or obtain payment from any assets of the Entity and / or the Clients. In such circumstances, Alpha Concept reserves the right to treat these Terms of Business as terminated without further obligation, save as to any continuing covenant, obligation or undertaking given by the Clients or the Clients’ Appointees to Alpha Concept , and to act pursuant to the provision of Paragraph 8.4 of these Terms of Business.

9.6Unless otherwise agreed in writing with the Clients, Alpha Concept will not pay any interest on any monies held by Alpha Concept on behalf of the Entity and / or the Clients and / or the Clients’ Appointees.

9.7Alpha Concept and its associated companies, their officers, agents and employees shall be entitled to retain any third-party commission or fee which is paid or may become payable to it notwithstanding that such commission or fee is payable as a direct or indirect result of Alpha Concept providing the Services or otherwise in relation to the Entity.

9.8Should Alpha Concept cease to provide Services or should the Clients advise Dicènt that they no longer require the Entity, the Clients must pay to Alpha Concept any fees or costs which may be incurred by Alpha Concept in relation to the striking off, dissolution, liquidation or transfer of the Entity (including Alpha Concept's minimum transfer or termination fee).

9.9In the event that the Clients shall request Alpha Concept to transfer the management or administration of the Entity or should Alpha Concept request the Clients to transfer the management or administration of the Entity to another agent or Corporate Service Provider, Alpha Concept shall not be obliged to transfer the Entity until all outstanding fees (including government fees, duties, taxes and other third party disbursements together with Alpha Concept's transfer or termination fees) have been paid in full.

9.10Where the Clients make part payment to Alpha Concept of any fee note or invoice rendered by Alpha Concept, Alpha Concept reserves the right to apply any monies received in firstly discharging its professional fees and only thereafter in payment of any government fees, duties charges or taxes or other payments to third parties.

Studio Alpha Concept & Partners

Unit 1010, Miramar Tower, 132 Nathan Road,

Tsim Sha Tsui, Kowloon, Hong Kong

Tel: +85282180166; Email: info@nokia-hk.net - Location Map

Alpha Concept

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