Introduction

These Terms of Engagement apply to all work carried out by Central Law Limited (“us” and “we”) for you, unless otherwise agreed in writing. By continuing to instruct us after receiving these Terms, you accept the terms described below.

1. Fees

We charge a fee that is fair and reasonable, considering both your interests and ours. The following factors may be relevant in determining the fee:

• Time spent (hourly rates of qualified employees available on request)
• Required skill, specialized knowledge, and responsibility
• Importance of the matter, results achieved, and transaction value
• Urgency, circumstances, and any time constraints, including those you impose
• Degree of risk assumed, including value and amount involved
• Complexity and novelty of the matter
• Experience, reputation, and ability of our team
• Potential conflict or preclusion from acting for other clients
• Whether the fee is fixed or conditional
• Quotes, estimates, or fee agreements between you and us
• Reasonable costs of running our firm
• Customary fees for similar work in the market and locality

Unless otherwise stated, all fees and expenses are subject to GST.

We will provide fee estimates upon request and notify you if they are likely to be exceeded.

Alternative charging methods may apply, depending on the type of work.

We maintain a trust account for client funds. Significant funds are usually placed on interest-bearing deposit, and an administration fee of 7.5% of interest earned is charged. It may be necessary for you to complete ASB Bank documentation prior to your funds being placed on interest bearing deposit.

2. Office Expenses and Disbursements

In addition to our fees, we charge office expenses:

• A minimum fee of 3% of fees per account, covering general office expenses (e.g. phone, email, post, photocopying, printing, forms, and incidentals). This may be charged as a lump sum and can include reasonable mark-up or processing margin.
• Digital Storage Fee: $25 plus GST per file opened, covering digital storage costs.
• E-dealing Administration Fee: $20 plus GST for the first Land Information New Zealand (LINZ) instrument, $10 plus GST for each additional instrument, covering licensing and compliance.
• Digital Signing: $5.50 plus GST per bundle of documents signed electronically via our platform, covering licensing costs.
• AML/CFT compliance costs for customer due diligence, plus any third-party disbursements

We also charge for actual out-of-pocket disbursements incurred on your behalf, such as search fees, court filings, registration, LIM fees, valuations, travel, or courier charges. Prepayment may be required. Funds received in advance are held in trust until disbursed.

Fees, hourly rates, expenses, and disbursements may change without notice.

3. Payment of Accounts

• Fees and expenses are due within 14 days of the account being sent, or may be deducted with your written consent from funds held on your behalf.
• Fees and expenses are payable regardless of the outcome of your matter.
• A final account will be issued upon completion, with interim accounts as appropriate.
• If we hold non-specified funds for you, we may deduct our fees  as invoiced.
• We may request advance costs, to be held in trust and only paid to us upon invoicing.
• Interest accrues on unpaid accounts at 1.5% per month from the due date. Costs of recovery are also payable by you.
• A 1.85% credit card fee applies to credit card payments.
• Defaults may be reported to credit reporters and shared with their clients.

4. Compliance

• We comply with all relevant laws, including Anti-Money Laundering (AML), Countering Financing of Terrorism (CFT), tax, and client reporting laws.
• Customer due diligence may be required for you and associated persons. We may not commence or continue work until we are satisfied with the outcome from our required due diligence.
• We cannot act or complete transactions through our trust account until due diligence is complete.
• We are not liable for losses arising from delays due to incomplete due diligence.
• Information may be required to be provided to third parties, sometimes without notice to you.
• Please ensure all relevant persons are aware of and consent to this information exchange. Incomplete or inaccurate information may result in termination of engagement.
• You consent to our use of third-party services for verification and ongoing monitoring under AML/CFT legislation.

5. Files and Documents

Unless otherwise instructed in writing, we may destroy or delete all files and records seven years after our engagement ends, except those held in safe custody or required by law to be retained longer.

6. Limitation of Liability and Responsibility

• We do not offer investment advice when conveying property.
• We may correspond electronically unless instructed otherwise. While we use anti-virus and security measures, electronic communication is not guaranteed secure, and we are not liable for any loss resulting from its use.
• We are not responsible for loss due to non-receipt of any communication.
• Our work is solely for your use and cannot be relied on by others.

Our total liability, as allowed by law, is limited to:

• The amount available under our insurance (up to NZ$5,000,000), or
• In other cases, up to NZ$250,000 (including interest and costs).

This limitation covers all forms of liability and applies to you and related parties, except where overridden by written agreement or in cases of fraud or dishonesty.

This limitation applies only when:

You are not a consumer, or

You are a consumer but receiving our services for business purposes under the Consumer Guarantees Act 1993.

This does not apply in cases of fraud or dishonesty.

7. Lawyers Fidelity Fund

• The Law Society operates the Lawyers Fidelity Fund to protect clients against loss from lawyer theft, with compensation capped at $100,000 per claim.
• Certain investment-related losses are excluded from cover.
• For detailed information on the Fidelity Fund, please contact the New Zealand Law Society

8. Professional Indemnity Insurance

We maintain current Professional Indemnity Insurance meeting the minimum standards of the New Zealand Law Society.

9. Right to Terminate Your Retainer

• You may terminate our engagement with reasonable notice, but must pay for all services provided up to termination before uplifting your records. We may retain copies of your documents.
• We may terminate if there is good cause (e.g., lack of instructions or non-payment), providing reasonable notice and assistance for transition.

10. Suspension of Service

We may stop work if interim accounts are unpaid or requests for information or action go unsatisfied.

11. Conflicts

Should conflicts arise after instructions are received, we may require parties to seek separate and independent advice.

12. Privacy and Confidentiality

• All information about you is private and confidential, disclosed only as required by law, to provide services, upon your request, or with your consent. Disclosure to third parties may occur as detailed in clause 4
• We also comply with our privacy policy, which is available upon request.

13. Complaints

• We aim to provide competent, timely service. If you have any complaints, please contact the responsible director in the first instance
• If unresolved, you may refer your concerns to another lawyer in the hope that your issues can be resolved promptly and fairly.
• You may contact the Law Society’s Lawyers Complaints Service at 0800 261 801 for information or to make a complaint.

14. General Provisions

• These Terms of Engagement apply to current and future engagements, unless superseded by updated terms sent to you.
• Our relationship is governed by New Zealand law.

Client Care and Service Information

The Law Society sets out client care and service standards as follows:

• Act competently, promptly, and as per instructions and agreements
• Protect and promote your interests, acting without compromised loyalties
• Discuss your objectives and how they can best be achieved
• Inform you about the work, who will do it, and how services will be delivered
• Charge fair, reasonable fees and explain billing
• Provide clear information and advice
• Ensure privacy and confidentiality
• Treat you fairly, respectfully, and without discrimination
• Keep you informed about the work and advise you when it is completed
• Explain the complaints process and address complaints promptly and fairly

Lawyers’ obligations to clients are described in the Rules of Conduct and Client Care for Lawyers and are subject to overriding duties to the courts and justice system.

For questions, visit www.lawsociety.org.nz or call 0800 261 801.