Terms of Engagement
nem refers to nem Australasia Pty Ltd and it’s Partners. A nem Partner works through a independent corporate entity which is a shareholder in nem Australasia Pty Ltd for the purpose of providing central office support, access to various levels of intellectual property and for undertaking various operating procedures on behalf of the individual Partners and their respective corporate entities. nem will ordinarily enter into written Terms of Engagement that details the scope of the work to be undertaken and the guidelines of the commercial arrangements being entered into with the client. Where such Terms of Engagement are prepared the client is asked to acknowledge their acceptance by signing and returning one copy to nem. Often a nem Partner undertakes ongoing work under verbal or written instructions that falls outside the initial Terms and Engagement and where this occurs nem’s standard hourly and daily rates apply unless otherwise agreed with the client. Where nem undertakes activities on a successful outcome basis (e.g. appointment of candidate) and the fee is not payable until an agreed event occurs the client acknowledges thatnem will be paid at half the standard hourly and daily rates should nem’s services be terminated by the client prior to the achievement of the specific events. Additionally the client acknowledges that the appointment of candidates presented by nem, appointment of a nem Partner or completion of transactions with nem introduced parties will attract the success fees agreed at the outset of the assignment. Appointed nem Partners will attract a placement fee of the greater of 25% of the contracted remuneration package or $48,000 unless otherwise agreed in writing. nem retains all rights and ownership of the intellectual property it brings to, or develops, as part of an engagement unless otherwise specified in the written Terms of Engagement.
nem retained services are invoiced on the commencement of each month’s service. Interim management and project management services are invoiced weekly in arrears and all other services are invoiced in accordance with the agreed terms of engagement. All invoices are payable net 7 days. From time to time clients may also be requested to prepay for the services of nem Partners.
While nem and its Partners take every effort to validate and authenticate the information presented by clients, the staff of clients and their agents it is outside the scope of nem’s involvement to audit or authenticate all information. The advice and recommendations incorporated into reports relies largely on the representations and information provided to nem by the client, their staff and their agents and is based on the business climate prevailing at this time. As a consequence the report, advice and recommendations provided by nem cannot be relied upon for the purpose of warranting, guaranteeing or in any way underwriting the performance of the business. Although nem employs the title ‘Partner’ to describe its representatives, the relationship between nem and its representatives and between each representative is not to be interpreted, and does not constitute, a partnership, quasi-partnership, association, employer/employee or any other relationship in which nem and its representatives, or each representative, may be liable generally for the acts or omissions of each other. Further, while nem and its representatives take every effort to ensure no confusion is caused through use of the title Partner, nem and its representatives are in no way liable for any loss or damage suffered as a result of any such confusion.
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