Agreement
For the purposes of this Agreement, the applicable Contract, and the General Terms and Conditions shall constitute the agreement between Grant Thornton Valuation and the Client. It shall supersede any prior oral or written agreements, and may not be modified without the unanimous written consent of the parties hereto.
Assignment
Neither of the parties may assign or transfer any of the rights or obligations listed below without the prior written consent of the other party, except where such assignment or transfer is based on a legal transfer of all or substantially all of the assets or business interests of that party to a successor in interest.
Contractual clients
Only such parties that have a contractual relationship with Grant Thornton Valuation and that sign a contract may rely on the results of the work of Grant Thornton Valuation. No third party shall be entitled to any of the contractual rights of Grant Thornton Valuation’s clients without the prior written consent of Grant Thornton Valuation. No third party may rely on the results of Grant Thornton Valuation’s work as a substitute for their own work.
Communication
Electronic media, including voice mail, electronic mail, and facsimile, are acceptable means of communication for the purpose of communicating materials, unless such forms of communication are expressly prohibited by the Contract. The Client shall not assume or expect the Expert Team appointed by Grant Thornton Valuation for the work required by the contract to have knowledge of any information brought to its attention by the Client to a third party who is not a member of that Expert Team.
Fees due
Grant Thornton Valuation’s fee shall not be in any way related to its opinions or conclusions reached in the performance of the engagement or to any subsequent event directly related to those opinions or conclusions. The Client shall pay Grant Thornton Valuation’s invoices in accordance with the terms of the agreement.
Title deeds and site plans
The Client (Cost Carrier) undertakes to obtain the title deeds and site plans required for the valuation, issued not more than 30 days prior to the date of the valuation. If the valuation is for a financial institution, or if a scaled floor plan, plan, building or other permit is required for other purposes, the Client (Cost Carrier) agrees to obtain them.
If the above-mentioned documents are obtained by Grant Thornton Valuation Ltd, Grant Thornton Valuation will undertake to provide them for the following fee:
- E-certified title deeds 5.500 HUF + VAT
- For the purchase of an e-copy of the title deeds for the property of the land register for HUF 6.000 + VAT
- Drawing and digitalisation of the floor plan by our expert: The fee will be estimated and agreed on the basis of the map copy, depending on the complexity of the property.
The cost of these documents will be paid by the Client (Cost Carrier) in addition to the commission fee.
Delivery
The reports shall be sent by post; in case the Client requests delivery by courier, the delivery fee shall be HUF 3,000 + VAT in Budapest and shall be according to the then current service tariff of the courier.
Additional copies
Additional copies of printed reports over and above the electronic copy offered may be requested for a fee of HUF 15,000 + VAT/report.
Late payment
Interest on late payments shall be charged at the rate calculated at twice the base rate of the Central Bank of Hungary.
Confidentiality
Grant Thornton Valuation shall use the same care to protect the confidentiality of the information provided by the Client as it does to protect the confidentiality of its own materials. It may not disclose such information in its possession to any person or use it in any manner other than in accordance with the agreement, unless required by law to disclose the information. In such a case, Grant Thornton Valuation shall immediately notify the Client in writing so that the Client may seek legal remedy, if possible. Grant Thornton Valuation reserves the right to provide access to the working materials as required to comply with any quality or compliance audit service carried out by any legally accredited or authoritative body with which its staff are associated. Such access by both Grant Thornton Valuation and the organisation in question shall remain subject to confidentiality.
Information shall not be considered confidential if:
(i) it is in the public domain currently or hereinafter;
(ii) Grant Thornton Valuation was already in possession of the information at the time it was provided for it; or
(iii) the information has been provided to the Client by a third party without any obligation of confidentiality.
Except as required by governmental regulations or law, the Client shall not, without Grant Thornton Valuation’s prior written consent, disclose Grant Thornton Valuation’s reports, confidential materials or information about its role in the Contract to anyone other than the parties named in the Contract.
Grant Thornton Valuation reserves the right to include the Client’s name and logo in Grant Thornton Valuation’s list of references, unless the Client expressly requests not to do so.
Force majeure
Neither the Client nor Grant Thornton Valuation may be held liable for delays or failure to perform in accordance with the terms of the Contract due to circumstances beyond their control.
Governing law and court of jurisdiction
The provisions of the Civil Code of Hungary shall govern the present agreement, and the competent Hungarian ordinary court having jurisdiction at the place where Grant Thornton Valuation is established shall have jurisdiction.
Damages
The Client shall indemnify and hold Grant Thornton Valuation harmless from and against any and all losses, claims, actions, damages, costs and liabilities, including reasonable attorneys’ fees, which Grant Thornton Valuation may be required to pay in connection with the engagement, except in cases which may finally be determined lawfully to be the result of Grant Thornton Valuation’s negligence or wilful misconduct.
The Client’s indemnification obligation extends to any person working for Grant Thornton Valuation, including any director, officer, employee, subcontractor or agent. In no event shall Grant Thornton Valuation’s liability toward the Client exceed the fee received for the performance of the engagement, except in the event that it is determined to be the result of Grant Thornton Valuation’s negligence or wilful misconduct.
Grant Thornton Valuation shall indemnify the Client in proportion to the damage caused and shall be held liable for any and all claims for costs arising from any damage, bodily injury or material damage caused by Grant Thornton Valuation’s staff or its representative in the performance of the contract, except where this is related to the Client’s negligence.
While on the Client’s premises, Grant Thornton Valuation staff assigned to the performance of the contract shall comply with all safety rules and measures posted or required by the Client.
Independent contractors
Grant Thornton Valuation and the Client shall be considered, vis-a-vis each other, as independent contractors. Grant Thornton Valuation reserves the right to use a subcontractor in the performance of the engagement. Grant Thornton Valuation is an equal opportunities employer.
Restrictions on the use of the report
Grant Thornton Valuation’s report may only be used for the specific purpose or purposes set out in the contract, and any other use shall be considered void.
Reliability of the information provided by the Client
Grant Thornton Valuation is entitled to assume, without specific verification, that all information provided by the Client or its advisers is accurate and complete.
Retention of working materials
Unless otherwise provided in the contract or a written agreement in connection therewith, Grant Thornton Valuation shall consider all papers, documents, working materials papers or other data generated in the course of the performance of the engagement to be its own property. Such materials shall be retained for a minimum of five years. During this period, the Client shall have the right to access the materials in order to fulfil the use(s) specified in the Contract, provided that the Client gives appropriate notice of its intention to do so.
Scope of work
Grant Thornton Valuation is only obliged to carry out the tasks specified in the Contract, and only such items in difference from the original scope as subsequently agreed in writing. Consequently, the work under the engagement shall not include separate services or any obligation to update the work after its completion. Grant Thornton Valuation reserves the right to refuse to perform any additional services if it believes that such services would result in a real or perceived conflict of interest, or would be illegal or in violation of applicable rules or professional standards.
Quality of performance
Grant Thornton Valuation shall perform the engagement in accordance with applicable professional practice. However, asset valuation services generally involve opinions that are developed in an uncertain environment and based on the analysis of data that have not been validated or that change over time. The Client and other participants in the work to whom the Client provides access to the results of Grant Thornton Valuation’s work shall evaluate Grant Thornton Valuation’s performance in accordance with the terms of the contract and applicable professional practice.
Fees payable in the event of unilateral withdrawal from the engagement/contract
In the event of unilateral withdrawal from an engagement after it has has commenced, a pro rata fee will be charged as follows:
On-site inspection HUF 100,000 + VAT
Executive summary 50% of the engagement fee (already includes the fee for an on-site
inspection)
Additional costs (e.g. title deeds) 100%
Witness testimonies
The scope of Grant Thornton Valuation’s services shall not include giving witness testimony or participating in a court hearing or investigation of a judicial or other legal nature, unless specified in the contract or a subsequent written agreement.
Whistleblowing system
Grant Thornton Hungary is committed to ensuring fair and transparent operations for all our employees, partners and clients. To this end, in accordance with Act XXV of 2023 on the rules for reporting abuse, we have established the Whistleblowing System, where anyone can anonymously report any irregularities, abuse or unethical behaviour.
Which cases can be reported?
The system allows you to report the following:
- Suspected fraud, corruption
- Breach of ethics rules
- Abuse of employment law
- Environmental and safety irregularities
How can you report?
You can make a report in one of the following ways:
– Online: https://grantthorntonhu.integrityline.com/?lang=en
All reports will be treated confidentially and the identity of the whistleblower will remain fully protected. We aim to investigate all reports thoroughly and take appropriate action where necessary.
Why is it important to report abuse?
Reporting incidents of abuse helps maintain a fair and safe working environment and ensures that our company complies with legal and ethical standards. Thank you for your cooperation and support!
Whistleblowing-System
Grant Thornton Hungary ist bestrebt, faire und transparente Abläufe für alle Mitarbeiter, Partner und Kunden zu gewährleisten. Zu diesem Zweck haben wir in Übereinstimmung mit dem Gesetz XXV von 2023 über die Regeln für die Meldung von Missbrauch das Whistleblowing-System eingerichtet, in dem jeder anonym Unregelmäßigkeiten, Missbrauch oder unethisches Verhalten melden kann.
Welche Fälle können gemeldet werden?
Über das System können Sie Folgendes melden:
- Verdacht auf Betrug, Korruption
- Verstoß gegen ethische Regeln
- Missbrauch des Arbeitsrechts
- Unregelmäßigkeiten im Bereich Umwelt und Sicherheit
Wie können Sie eine Meldung machen?
Sie können eine Meldung auf eine der folgenden Arten machen:
– Online: https://grantthorntonhu.integrityline.com/?lang=en
Alle Meldungen werden vertraulich behandelt und die Identität des Hinweisgebers bleibt vollständig geschützt. Wir bemühen uns, alle Meldungen gründlich zu untersuchen und gegebenenfalls geeignete Maßnahmen zu ergreifen.
Warum ist es wichtig, Missbrauch zu melden?
Die Meldung von Missbrauchsfällen trägt zur Aufrechterhaltung eines fairen und sicheren Arbeitsumfelds bei und gewährleistet, dass unser Unternehmen die rechtlichen und ethischen Standards einhält. Wir danken Ihnen für Ihre Mitarbeit und Unterstützung!