Terms of Engagement

CMG Business Services Limitd, trading as 'CMG Advisory' note that if there are signed & written terms of engagement between the parties (being the Client/you and CMG Advisory), then the signed & written terms of engagement prevail over those set out in this online version of CMG Advisory's terms of engagement, to the extent that they are different from terms set out herein (in the online version).

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Notwithstanding this, the terms set out in this online version of CMG Advisory’s Terms of Engagement apply cumulatively with the signed and written terms of engagement in place, between the parties.

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If there are no signed & written terms of engagement in place between the Client/you and CMG Advisory, then the terms of engagement set out in this online version of the terms of engagement are the only terms of engagement on which CMG Advisory agrees to supply services to the Client/you (and related entities to you), and these terms published herein supersede all prior and/or future oral agreements between CMG Advisory and the Client/you. For the avoidance of doubt, in the absence of specific signed and written terms of engagement, any instruction of CMG Advisory to perform services by you/the Client, are accepted by CMG Advisory solely on the basis that such instruction occurs on the terms set out herein for all contractual dealings with CMG Advisory.

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PREAMBLE

In consideration for CMG Advisory agreeing to work for the Client (or continue to work for as the case may be), the client agrees that any engagement for the provision of services by CMG Advisory to the client (or any related entity to the client) are upon the terms set out in this agreement. Unless a written quote or fee estimate is provided by CMG Advisory, all services are provided on a time and attendance basis. Services include written and oral advice.

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1 Definitions

1.1 'CMG Advisory', 'we', 'us' and 'our' shall mean CMG Business Services Limited, trading as CMG Advisory, any subsidiary or related entity, as the case may be or any agents, employees, or any subsequent entity renamed from any of the above.

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1.2 'You' shall mean the Client, any person acting on behalf of and with the authority of the Client, or any person purchasing services from CMG Advisory with ostensible authority from you.

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1.3 "Client" shall mean you, and any entity that you are a related party to, that instructs CMG Advisory to provide professional services for it.

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1.4 'Services' shall mean all professional services provided by us to you on your instructions, including the provision of all incidental goods, professional immigration advisory and compliance services, advisory and consulting services, accounting services, company formations, preparation of trust deeds and formation and professional advice, taxation consultancy, professional Trustee services through related entities including associated Trustee Companies or software installation and support as the case may be or any fee, charge or disbursement cost associated with the supply of services by us to you.

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2 RESPONSIBILITIES OF CMG Advisory

2.1 We will provide the agreed services in accordance with your instructions with reasonable skill, care and diligence in accordance with recognised professional standards.

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2.2 The obligation on us to perform the services is subject to:
(a) You complying with your responsibilities in terms of clause 12 herein;
(b) Any third party performing their respective obligations within a reasonable time (provided that if we are experiencing delays with a third party, we will contact you).

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3 ACCEPTANCE

3.1 Any instructions received by us from you for the supply of services shall constitute acceptance of the terms and conditions contained herein by you and all entities related to you / the Client.

 

4 USE OF INFORMATION

4.1 As a result of providing services to you we will collect personal information. You authorise us to collect, retain and use this information to provide services and develop our relationship with you.

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4.2 You authorise us to disclose personal information to third parties should our engagement require us to do so. You also authorise us to obtain personal information from any person, including but not limited to Government Departments, solicitors or bankers for the purposes of completing any engagement.

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4.3 Personal information will be held at our offices. Under the Privacy Act 1993 you have the right to access and correct your personal information.

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4.4 You authorise us to use your information when dealing with third parties CMG Advisory work with in relation to any matter in connection to your affairs, including IRD, banks, credit agencies etc.

 

5 FEES

5.1 Where a fee has not been agreed in writing specifically, CMG Advisory shall provide any services on a time and attendance basis at the applicable rate of the person performing the services set out at 5.9 below. Such time charged shall include time taken to travel, investigate and report, as well as transport costs, any disbursements and office recoveries at the applicable rate or cost.

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5.2 The fee may be increased by the amount of any reasonable increase in the cost of supply of the services that is beyond our control. Should this occur we will discuss it with you. In addition we reserve the right to increase fees from time to time to cover the increase costs of doing business, including inflation in office and labour costs.

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5.3 A flat fee will be rendered for providing tax management services and tax payment reminders of $75 per entity plus GST. Further a flat fee of $140 shall be charged for filing corporate annual returns online, plus any disbursement paid to the Companies Office.

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5.4 Unless otherwise agreed, all fees are rendered on a time and attendance basis. For the avoidance of doubt, this includes telephone calls and the provision of ad hoc advice. Figures quoted are GST exclusive and before an office service charge at the applicable rate has been added.

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5.5 You agree to reimburse us for all disbursements incurred by us while providing services to you, including the levying of an office services fee in the amount of 4% of any fee rendered (which we will describe as 'Office Service Charge'). In addition to this fee, specific disbursements may be levied on a case-by-case basis as is appropriate. Eg. Travel costs including time and mileage are to be met by you. A further fee may be added to any Trust or Company to cover the cost of the folder and tab system.

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5.6 In consideration for CMG Advisory agreeing to act for the Client/you, or any entity related to your group including the guarantors instructing CMG Advisory to perform professional services, in relation to security for costs, all parties instructing CMG Advisory to act do so on the basis that any real estate property or any asset owned by any entity that is party to this agreement is pledged in support of CMG Advisory’s fees as security and that CMG Advisory shall have the right to lodge security over such asset or assets now or in the event of default on payment terms by any party to this agreement. At any time after the signing of this agreement if any party to the agreement are or is in default of payment terms to CMG Advisory or in the opinion of CMG Advisory insolvent, then CMG Advisory may at its sole discretion lodge a caveat over any property or require that the parties to this agreement sign a suitable security agreement to support such undertaking to mortgage or secure any asset.

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5.7 In consideration for CMG Advisory agreeing to act for the parties to this agreement, the parties to this agreement CMG Advisory a limited power of attorney to CMG Advisory to give effect to the lodgement

 of any security in relation to a lien or a charge over any property or to enable CMG Advisory to register any form of security interest under the Personal Property Securities Act (PPSA).

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5.8 If payment of any sum invoiced is not received within 20 days from the date of invoice, we shall be entitled to charge you interest on the outstanding sum at a rate of 15% per annum calculated on a daily basis from the date of invoice until payment is received.

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5.9 Our current rates are as follows:

a) Director and Senior Associate hourly rate $450NZD +GST per hour

b) Associates $250NZD +GST per hour

c) Licensed Immigration Adviser hourly rate $350NZD +GST per hour

d) Accountant hourly rate $160NZD +GST per hour

e) Consultant or Support hourly rate $160NZD + GST per hour

f) Admin Support hourly rate $80NZD +GST per hour

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5.10 Unless otherwise agreed to in writing by CMG Advisory the Director of the Company, the supply of services is based on payment terms of the services being payable in full on completion of the engagement (as defined in clause 9 below).

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5.11 If you are in breach of any terms of this agreement then the entire fee will be immediately due and payable, together with any legal and debt collection fees incurred in enforcing payment.

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5.12 In the event CMG Advisory agrees to invoice monthly in arrears, payment is due by the 20th of the month following the date of the invoice. In the event the invoice is not paid by the due date then the total fee becomes due and payable immediately, as per clause 5.8.

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5.13 Where applicable, you agree to pay in addition to the fee a sum equal to any Goods and Services Tax (GST) payable in respect of the services at the same time as the fee is paid.

 

6 THIRD PARTY PROVIDERS

6.1 If during the provision of services to you we have to obtain goods or services from a third party, then our agreement to supply those goods or services is conditional on us obtaining them from the third party. We are not liable for any delay or non-supply by a third party.

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6.2 You will ensure that we are not liable for any third party claims, demands or damages arising out of or relating to the engagement of third parties.

 

7 SCOPE OF SERVICES

7.1 The services to be provided by us shall be as set out in the engagement letter or as otherwise agreed in writing between us.

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7.2 You acknowledge that we are reliant on the information provided by you and you agree to provide all information necessary for us to provide our services.

 

8 LIABILITY

8.1 CMG Advisory shall not be liable to you for any indirect or consequential loss or damage, or for any loss of profits, revenue, goodwill or anticipated savings, or for any loss that is an indirect or consequential loss or damage.