Terms of Business

Introduction

These terms of business together with any engagement letter provided to you at the commencement of a matter set out the terms on which we accept instructions and charge for our professional services. If there is any conflict between these terms and the engagement letter then the engagement letter will take precedent.

Persons responsible for your work

We will inform you of the director responsible for your matter and other chartered surveyors involved. We will also tell you if there is any change.

Fees and disbursements

The fees and disbursements will be agreed with you at the outset of a matter and confirmed in the engagement letter. We calculate our charges normally with reference to the time spent on the matter. The firm maintains a time record. Our rates are subject to revision every 1st May and may be revised at other times. We will notify you if any changes to our rates.

Billing and Payment

VAT at the rate applicable will be added to bills unless zero rating or an exemption applies

All bills are for payment in sterling within one month from the delivery of the invoice. We reserve the right to charge interest for late payment at the higher rate of 4 per cent over Nat West Bank plc base rate from time to time, the rate payable from time to time on judgement debts or the rate payable pursuant to the Late Payment of Commercial Debts (Interest) Act 1998.

Clients Account

Steer Ethelston Rural Ltd. does not hold Client�s Monies or a Clients Account.

Papers held by the firm

On completion of the matter and payment of our fees, we will return to you, at you request, any documents provided to us for the purposes of that matter. We will retain all other papers but cannot undertake to retain files for any specific period of time but will endeavour to keep all files for a minimum of six years after which time we reserve the right to dispose of them.

Our liability

You agree by engaging us that you will not bring any claim arising out of or in connection with our engagement personally against any individual director, employee, consultant or shareholder of Steer Ethelston Rural Ltd. However this restriction will not operate to limit or exclude the liability of the firm of Steer Ethelston Rural Ltd.

You also agree that in the particular circumstances of the services to be provided to you, including in particular those described in any engagement letter sent to you at the commencement of a matter, our aggregate liability to you for the losses for which we are liable at law shall not exceed the amount (if any) specified in the engagement letter. Any consequential or indirect loss is also excluded.

Termination of instructions

Once instructed we will normally continue to act for you in the matter until its conclusion. If circumstances arise where it is appropriate for either of us to terminate the arrangement you will be responsible for our fees and disbursements up to the date of termination and any fees and disbursements necessarily associated with our ceasing to act of the transfer to another adviser of your choice.

Confidentiality

Information passed to us is kept confidential and will not be disclosed to third parties except as authorised by you or required by law. If on you authority we are working with other professional advisers we will assume we may disclose any relevant aspect of you affairs to them.

Where you provide us with fax or computer network addresses to which material is to be sent, we shall assume, unless you tell us otherwise, that your arrangements are sufficiently secure and confidential to protect your interests.

Contracts (Rights of Third Parties) Act 1999

For the purposes of section 1(2) of Contracts (Rights of Third Parties) Act 1999, it is agreed that no term of our agreement with you shall be enforceable by a third party.

The Royal Institution of Chartered Surveyors

The instructions in respect of the matter for which you have instructed us shall be conducted in accordance with the Rules of Conduct for the time being of the Royal Institution of Chartered Surveyors.

Steer Ethelston Rural Ltd.
July 2004.