Terms and Conditions for Exillium DMCC


Exillium DMCCJumeirah Bay Tower X3, 25th Floor, Office 2506, Jumeirah Lakes Towers, Dubai, UAE,. +971 4 390 4450E. info@exillium.com, www.exillium.com

 

Definitions:

  • “Client” refers to any natural person(s) or legal entities who have entered into an executed letter of engagement with Exillium DMCC.
  • “Firm” denotes Exillium DMCC, operating from its registered office in Dubai.

 

  1. Notifications to Regulatory Authorities
  • The Client hereby consents to Exillium DMCC making prompt disclosures to regulatory authorities as required by applicable laws, including but not limited to the UAE Central Bank, Financial Intelligence Unit (FIU), or any other pertinent regulatory body regarding any material event or circumstance relating to the Client that might necessitate regulatory oversight or intervention.
  • In the event of a disagreement concerning these notifications, the Client agrees to seek independent legal counsel, with the obligation to provide Exillium DMCC with a copy of any such advice.

 

  1. Anti-Money Laundering/Terrorism Financing/Sanctions Compliance
  • Under the obligations set forth by Federal Law No. 20 of 2018 and subsequent Cabinet Resolutions, Exillium DMCC is bound to report any knowledge or suspicion of money laundering, terrorism financing, or sanctions breaches to the competent authorities. Non-disclosure in such cases would be considered a criminal offense.
  • The Client must affirm non-involvement in such illicit activities and agrees to waive confidentiality in relation to any required disclosures to regulatory bodies.

 

  1. Client Identification and Onboarding Procedures
  • Prior to the commencement of services, Exillium DMCC requires comprehensive identification and address verification from the Client, along with any additional information deemed necessary for compliance with AML legislation and internal policies. 
  • Exillium DMCC reserves the right to conduct thorough due diligence, including source of wealth checks and background screenings. Non-compliance with these requirements may result in refusal to provide services.

 

  1. Fee Structure and Payments
  • Exillium DMCC commits to transparency in fee determination, aiming to align costs with the value delivered. Estimates provided are based on current information and scope of services.
  • Any deviation from the initial scope or exceeding estimated hours will be subject to additional billing. The Client will be notified promptly if it appears that costs will exceed the initial estimate.
  • All fees quoted are exclusive of VAT or any other taxes, which will be added where applicable. Travel and miscellaneous expenses directly related to the provision of services will be billed separately.

 

  1. Confidentiality and Data Protection
  • Exillium DMCC undertakes to maintain strict confidentiality concerning all Client information, subject to legal obligations under UAE law, including data protection statutes.
  • Disclosure may occur for regulatory compliance, particularly in AML contexts, without prior notice to the Client as mandated by law.
  • The Firm ensures that all employees, advisors, and agents involved with the Client’s matters are bound by confidentiality agreements.

 

  1. Data Protection
  • The Firm will handle personal data in compliance with UAE’s data protection laws, using it for service provision, management purposes, legal compliance, and crime prevention, ensuring data security and integrity.

 

  1. Intellectual Property
  • All documents, methods, and intellectual property developed by Exillium DMCC during the course of engagement remain the property of the Firm unless otherwise stipulated by law.

 

  1. Third Party Rights
  • Services and advice provided by Exillium DMCC are exclusively for the Client’s use. Distribution to third parties requires explicit written consent from the Firm.

 

  1. Non-Solicitation
  • There is a mutual agreement not to solicit, hire, or otherwise engage the services of each other’s employees or contractors for a period of 24 months post-engagement, with liability for compensation in case of breach.

 

  1. Limitation of Liability
  • Exillium DMCC’s liability is restricted to instances of gross negligence, fraud, or wilful misconduct, with the total liability capped at the total fees paid for the services in question, except where higher liability is agreed upon in writing.
  • The Firm is not liable for losses caused by Client-provided false or misleading information or by actions of third parties.

 

  1. Professional Indemnity Insurance
  • Exillium DMCC holds professional indemnity insurance through American Home Assurance Company (Dubai Br.), offering worldwide coverage excluding USA and Canada.

 

  1. Force Majeure
  • Exillium DMCC shall not be held responsible for any failure to perform due to circumstances beyond its reasonable control.

 

  1. Severability
  • Should any part of these Terms be deemed unenforceable, invalid, or illegal, such part will be severed, and the remaining terms will remain in full effect.

 

  1. Waiver
  • No waiver of any rights under these Terms will be implied by any delay or failure to act, nor will any single or partial exercise of any right or remedy preclude further exercise of that or any other right.

 

  1. Conflict of Interest
  • Exillium DMCC reserves the right to serve other clients with potentially conflicting interests, ensuring strict adherence to confidentiality policies and immediate notification should conflicts arise.

 

  1. Governing Law and Dispute Resolution
  • These Terms and any disputes arising out of or in connection with the engagement shall be governed by the laws of the United Arab Emirates, specifically interpreted under DIFC (Dubai International Financial Centre) jurisdiction. All disputes shall be resolved through arbitration before the DIFC Courts Arbitration Division in accordance with its rules, with one arbitrator appointed by mutual agreement or by the DIFC Courts if the parties cannot agree.