If you provide us with further instructions concerning other non-contentious matters, these general terms and conditions will apply, unless we agree otherwise.
This agreement shall be governed by and construed in accordance with the law of England and Wales and each party agrees to submit to the exclusive jurisdiction of the courts of England and Wales.
Chris Sayer Solicitors LLP (the firm) have a policy of paying an amount in lieu of interest ("interest") to clients where the firm holds money in a general client account on their behalf in the course of providing legal services.
The rate of interest the firm pays on such funds fluctuates depending upon the rate of interest that the firm can secure from its principal bankers from time to time.
The firm does not pay the full rate of interest which it earns on general client funds to clients be-cause this is an enhanced rate that the firm can secure from holding large levels of client funds in aggregate.
The calculation of interest due to a client on a matter accrues three days after client funds have been received into the general client bank account of the firm and is calculated on a daily com-pounded basis.
In the event that the calculated total interest accruing to a client for the duration of a matter is less than £20 then no interest will be paid to the client on the basis that it is a de-minimis amount. The firm takes the view that any amount below £20 is reasonably retained by the firm to cover the administrative cost dealing with client funds.
The firm has an active policy of considering the potential exposure of client funds to commercial risks and regularly reviews the choice of banking institutions where the firm holds client funds.
The firm is not in this capacity acting as financial advisers and whilst the firm will take reasonable steps to protect client funds such actions will only ever be based on information available in the public domain.
Clients should note that the protections from the Financial Services Compensation Scheme do not provide individual clients with any significant degree of protection in the same way that might ex-ist if the client held the funds personally.
Clients have the right to seek alternative arrangements to hold their funds privately during the course of a transaction.
Clients may also request that their client funds are held by the firm in a separate designated client deposit account.
Where a client organises such special arrangements the firm reserves a right to charge, at usual fee earner rates, for any reasonable additional time costs or third party costs that it incurs in im-plementing a client?s request in respect of their funds.