All pre-booked first consultations with ELA (of either half an hour or one hour's duration by mutual arrangement) shall be free of charge and without obligation. Naturally, at your free consultation we shall endeavour to provide you with an indication of the costs that - in our estimation - are likely to be incurred in relation to your matter. In order to arrive at such an estimate, the following factors shall be taken into account :- a) the complexity of the matter ; b) the volume of documentation to be reviewed and otherwise studied by ELA ; c) the volume of documentation to be drafted and otherwise prepared by ELA ; d) the extent of third party agents costs involved ; e) the geographic location of the parties involved ; f) the amount of time required to undertake and conclude the matter. Clearly, arriving at a costs estimate is not merely an arithmetical calculation, but an exercise in balanced and considered judgement, having taken all pertinent factors into account. ELA shall endeavour to provide you with subsequent and revised cost estimates when applicable. ELA is not bound by estimates in circumstances where the time required to undertake your matter is longer than originally or subsequently estimated. Unless specifically agreed to the contrary by ELA, all new clients shall be required to deposit a sum on account of anticipated fees with ELA, the level of which shall be as advised by ELA and agreed by the client. ELA's basic hourly charges are One Hundred and Fifty Pounds Sterling (£150) per hour (plus VAT for UK clients). Any discounts from the basic hourly rate shall be entirely at ELA's discretion. Any increments in ELA's basic hourly rate shall be as advised by ELA and agreed by the client. ELA makes a separate charge for all disbursement expenses (such as couriers, messengers, telephone, facsimile, post, third party professional and other fees, special travel requirements and client purchase requests). ELA shall set all such disbursement charges in its reasonable discretion. Should ELA need to make payment on your behalf, ELA reserves the right to require you to provide the necessary funds to ELA in advance. In certain circumstances - principally in relation to matters which lend themselves to fixed fee arrangements - ELA shall, subject to special written agreement with you, enter into a fixed fee arrangement whereby in return for our undertaking specific work on your behalf, ELA would be paid an agreed fixed fee for its service. Unless a specific written fixed fee agreement is entered into between ELA and the client however, all work undertaken shall be strictly on an hourly rate basis. In certain circumstances - principally in areas which lend themselves to profit participation - ELA shall, subject to special written agreement with you, enter into a contingency arrangement whereby in return for our undertaking work and /or procuring agreements on your behalf, ELA shall share in a percentage of the profit or income derived. Unless a specific written contingency agreement is entered into between ELA and the client however, all work undertaken shall be strictly on an hourly rate basis. In certain circumstances - principally when the volume and regularity of work undertaken by ELA for a particular client so dictates - ELA shall, subject to special written agreement with you, enter into a retainer arrangement whereby in return for our undertaking such regular work, ELA shall be paid a retainer (the details of which shall be as specified in the relevant retainer agreement). Unless a specific written retainer agreement is entered into between ELA and the client however, all work undertaken shall be strictly on an hourly rate basis. Unless specifically agreed to by ELA in its sole discretion, all ELA invoices are sent out on a monthly basis. Again, unless specifically agreed to by ELA in its sole discretion, payment of invoices is required within seven (7) days of their issue date. If you do not pay within seven (7) days, ELA reserves the right to charge interest at the standard inter-bank overdraft rate from the eighth day. In the event of late payment by a client, ELA reserves the right to revoke any discount (as applicable) granted to the client by ELA, either pursuant to the relevant invoice or pursuant to any other discounted invoice between ELA and the client. In the event that you have a query in relation to any ELA invoice submitted to you, please inform our Accounts Department in writing within seven (7) days of the relevant invoice issue date. The receipt of your instructions by ELA- whether verbally or in writing-shall constitute your acceptance of and agreement to ELA’s Standard Terms and Conditions (as set out herein) and shall be conclusive evidence of the same.

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