General Terms

  1. By using this website www.fortunum.com or by submitting an online inquiry you agree to the following terms and conditions.
  2. In these Terms and Conditions: "Agreement" means the contract between Fortunum and the Client of which these Terms and Conditions shall form an integral part. "Client" means the applicant whose description and address are set out in this form. "Company" means any one or more companies in respect of which Fortunum provides Services at the Client's request. "Services" means any company formation, management or administration services whatsoever provided in respect of a Company. "Fortunum" means Fortunum Investments Ltd., and any member of, or any associated company within, Fortunum Investments Ltd., whether as a subsidiary, holding company, joint venture company or franchisee of Fortunum Investments Ltd., or any of its subsidiaries or in any other capacity whatsoever and shall where the context admits include any employee servant agent director or representative of same which provides Services pursuant to this Agreement.  Words importing one gender include all other genders and words importing the singular include the plural and vice versa.
  3. This agreement will come into force ONLY when the client has signed/accepted the invoice raised by Fortunum AND/OR the client has paid Fortunum for the requested services.
  4. The client expressly agrees that he has read and understood the terms and conditions of this agreement and the client further states that he accepts ALL the terms and conditions by engaging Fortunum to provide services.

Fees & Services

  1. The Client agrees to pay the fees charged by Fortunum for the provision of Services. These fees include fees for annually recurring Services billed at the rates applied by Fortunum from time to time. Although effort is made to maintain the same fee level for as long as possible, Fortunum reserves the right to increase the level of fees payable but shall give the Client not less than 30 days notice of any increase prior to commencing provision of relevant Services.
  2. Fees shall be payable immediately upon issue of invoices to the Client. If invoices are not settled within 30 days of the invoice date Fortunum shall be entitled to charge additional fees for annual Services of up to 25% of the fees invoiced and/or to charge interest on all outstanding fees at the rate of 4% over the best lending rate offered from time to time by EmiratesNBD for the currency in which the invoice is denominated.
  3. In the event of the Client failing to settle any invoice by the due date the Client and/or the Company authorizes Fortunum to deduct fees from any account, monies or property under the control of Fortunum in which the Client or the Company has a legal or beneficial interest and whilst any such fees remain outstanding Fortunum shall have a lien on any papers books or records and/or all assets of the Company or the Client which are in the possession or under the control of Fortunum.
  4. If the Client no longer requires Fortunum to provide Services to a Company, no later than 30 days after the date of an invoice for annual Services the Client shall give written notice to Fortunum accordingly failing which the Client shall be deemed to have accepted liability to pay for such Services and shall be liable for the payment of the said invoice in full.
  5. Services are provided on an annual basis and Fortunum shall not, without prior written agreement, be required to provide such Services for shorter periods or for part only of the relevant annual period.
  6. Without prior agreement, Fortunum will not pay interest on any monies held by or on behalf of a Client.
  7. A termination fee shall be payable by the Client to Fortunum upon the Services no longer being required whether as a result of the winding up or disposal of the Company, the transfer of management or otherwise. The fee shall be £500 in respect of Companies for which annual invoices are denominated in Pounds Sterling or US$750, or the local currency equivalent, in respect of Companies for which annual invoices are denominated in US Dollars or other currencies. Fortunum shall be entitled to charge additional fees for documentary work, time spent in effecting such termination and disbursements payable to third parties.
  8. Fortunum reserves the right to refuse to accept instructions from a Client or to discontinue the provision of Services without giving any reasons therefor. 

Termination 

  1. A client may terminate this agreement at any time provided the client gives written instructions with 30 days notice to terminate this agreement.
  2. If the company has been fully formed and all the work completed as per the client requirements when the termination request is received by Fortunum, then Fortunum is entitled to charge the Termination Fee as explained under "Fees & Services" clause #7 and all other outstanding invoices should be settled immediately by the client.
  3. If Fortunum is still engaged in the process of incorporating the company or has already placed an application on behalf of the client with a third party, be it a government body, private party, semi-government body etc., then the client agrees that Fortunum will first pay these fees and deduct the same from the client monies held by Fortunum.  If the client monies held by Fortunum is insufficient to pay for these fees, Fortunum shall immediately raise an invoice to the client which must be settled by the client as per the terms of the invoice as denoted under "Fees & Services."
  4. Furthermore, Fortunum reserves the right to fully charge the client for the Sponsorship Fee, The Fortunum Fee for incorporation AND an additional fee of AED 500 to AED 1500 per hour for each hour Fortunum or its staff have expended on the service to the client.  The client agrees that the fee to be charged by Fortunum is entirely at Fortunum's discretion. 

Other Provisions

  1. To enable Fortunum at all times to contact the Client, the Client shall provide full details of and promptly inform Fortunum of any changes to his usual residential address, telephone number, fax number and any e-mail address in addition to any business or other contact address provided by the Client.
  2. All instructions or requests for action shall be transmitted to Fortunum by the Client in writing. Fortunum may, at its discretion, agree to action any request or instruction given otherwise than in writing but in such event Fortunum shall not be liable in respect of any misunderstanding or error occasioned in processing such action or request acted upon in good faith.
  3. All communications in relation to the administration of the Company, including annual invoices, shall be deemed to have been properly communicated to the Client if sent to the address notified to Fortunum by the Client in accordance with this Agreement and all such communications shall be deemed to have been properly received by the Client seven (7) days after posting such communication to the Client. It shall not be necessary for Fortunum to provide proof of postage.
  4. Fortunum shall not be liable for any failure to comply wholly or in part with any instructions and shall not be responsible for non-receipt of instructions. The Client shall have no claim whatsoever against Fortunum in respect of anything done or omitted to be done or in respect of any exercise of any discretion unless same shall involve dishonesty.
  5. The Client shall at all times hereafter indemnify and keep indemnified Fortunum against all actions, suits, proceedings, claims, demands, costs, charges, expenses and consequences whatsoever which may be taken or instituted against Fortunum or which may be incurred or become payable by Fortunum by reason of or on account of (i) Fortunum having acted or declined to act on any instructions or otherwise pursuant to this Agreement, (ii) Fortunum providing any officer, registered office or other Service in respect of the Company or (iii) Fortunum providing a representative or nominee shareholder of the Company pursuant to this Agreement.
  6. In its brochure and other materials Fortunum provides information, inter alia, on corporate, trust, immigration and commercial matters. Such information does not purport to be legal or other professional advice and shall not be taken to constitute such advice or used or relied upon by the Client as such. The Client shall take his own independent advice on any matter relating to the Company and any Services provided by Fortunum that may affect or concern the Client and his personal affairs and shall not rely upon any representations (whether oral, written, expressed, implied or otherwise) made by Fortunum, its employees, agents or representatives.
  7. To satisfy Fortunum's due diligence requirements, upon request the Client shall provide Fortunum with whatever information Fortunum may reasonably require about the background of the Client and/or the dealings and the business of the Company.
  8. Where Fortunum receives mail on behalf of a Client or a Company Fortunum retains the right to open that mail in accordance with the requirements of local legislation or regulation or as good practice dictates.
  9. This Agreement shall be governed by the laws of, and be deemed to have been made in, the place of incorporation of the Company. Any proceedings arising out of or in connection with this Agreement may be brought in any court of competent jurisdiction and Fortunum shall retain the right to commence proceedings in any other jurisdiction it may consider appropriate.
  10. Fortunum shall be entitled to amend these Terms and Conditions from time to time Provided That Fortunum shall give reasonable advance notice in writing to the Client before such amended Terms and Conditions shall take effect.