aXent is a service of Acumon UK Limited. The terms below apply to engagements with Acumon UK Limited and its related entities operating the aXent platform.

1. Professional Rules and Statutory Obligations

We operate under The Institute of Chartered Accountants in England and Wales (ICAEW) regulations. The firm maintains confidentiality of client communications except where legally required disclosures occur. Conflicts of interest are disclosed to clients, and the firm reserves the right to serve other clients with different interests.

2. Investment Advice

Investment business is regulated by the Financial Services and Markets Act 2000. The firm may refer clients needing investment advice to authorised Financial Conduct Authority advisors, as we hold ICAEW licenses for complementary investment services only.

3. Commissions or Other Benefits

Where we receive commissions for professional introductions or arranged transactions, clients receive written notification including amounts and payment terms. You consent to such commissions or other benefits being retained by us.

4. Client Money

Client funds are held in segregated trust accounts complying with ICAEW Clients' Money Regulations. Interest exceeding £50 annually is paid at Barclays Bank rates. Unclaimed funds after 5 years may be donated to registered charities.

5. Fees and Payment Terms

Fees are based on time, skill, responsibility and risk involved. Fee estimates are non-binding unless explicitly stated otherwise. Fixed fees require annual review. Standard practice involves monthly standing orders with periodic adjustments. Our terms relating to payment of invoices are upon presentation. Outstanding invoices over 30 days incur 2% above Barclays Bank inter-bank rate interest. The firm reserves suspension or termination rights for delayed payments.

6. Retention of Client Records

Clients bear legal responsibility for maintaining documents. Original documents are returned; clients should retain records for 6 years from the end of the accounting year to which they relate. The firm may destroy stored correspondence exceeding 6 years old except significant documents. Extended storage incurs additional fees.

7. Quality Control

Files undergo periodic independent regulatory or quality control reviews by experienced professionals bound by confidentiality rules.

8. Reliance on Advice

Written advice is the standard form. Advice given orally is not intended to be relied upon unless confirmed in writing. Clients must request written confirmation of oral guidance.

9. Complaints

Clients should contact us regarding service complaints. The firm commits to prompt investigation and resolution. Unresolved complaints may be referred to ICAEW.

10. Applicable Law

This engagement letter is governed by, and construed in accordance with, English law. English courts have exclusive jurisdiction over disputes.

11. Electronic and Other Communication

The firm may communicate via email or electronic means unless instructed otherwise. The recipient is responsible for virus checking emails and any attachments. The firm uses virus-scanning software but cannot guarantee security or prevent corruption. Electronic communication carries inherent risks clients must accept for greater efficiency and lower costs.

12. Data Protection

We process personal data to provide services, update records, analyse information and ensure compliance. We confirm when processing data on your behalf that we will comply with the relevant provisions of the Data Protection Act 2018 and the General Data Protection Regulation (UK GDPR). Acumon UK Limited serves as Data Controller. Clients retain data access rights.

13. Contracts (Rights of Third Parties) Act 1999

Only someone who is a party to this agreement has the right to enforce any of its terms.

14. Limitation of Liability

The firm provides services with reasonable care and skill. Liability extends only to losses, damages, costs and expenses directly caused by our negligence or wilful default. The firm bears no responsibility for losses from incomplete information, other persons' acts or failure to follow advice.

Compliance services liability is capped at the lower of £1 million or 5 times contracted fees. Non-compliance services are limited to the higher of £1 million or 5 times contracted fees. Neither party is liable for indirect or consequential losses. The firm cannot exclude liability for death, personal injury or fraud.

15. Limitation of Third Party Rights

Advice is for client sole use unless express third-party reliance is agreed. We accept no responsibility to third parties for any advice, information or material produced as part of our work for you. Only agreement parties can enforce terms.

16. Intellectual Property Rights and Use of Name

We retain intellectual property rights in prepared documents. Clients may use rights only as agreed and cannot resell or sublicense without consent. You are not permitted to use our name in any statement or document that you may issue unless our prior written consent has been obtained, except legally required public statements. Licensed products remain firm property with no responsibility guarantees.

17. Draft / Interim Work or Oral Advice

Draft, interim and oral work products are superseded by final written versions. Clients may request written confirmation of oral statements.

18. Conflicts of Interest

The firm addresses conflicts according to ICAEW Code of Ethics. We comprise interrelated businesses and may share client information across entities. By providing information, you are accepting this. Clients acknowledge potential conflicts from multi-service provision.

19. Interpretation

Invalid provisions are severed without affecting others. Engagement letter provisions take precedence over general terms.

20. Disengagement

Upon resignation, the firm may issue a disengagement letter. Following notice of one party's decision to disengage, we reserve the right to delete all client records within 14 days.

21. Money Laundering

The firm must maintain identification procedures and records per Proceeds of Crime Act 2002 and Money Laundering Regulations 2017. We have a duty to report to the National Crime Agency (NCA) if we know, or have reasonable cause to suspect, money laundering. Money laundering includes tax evasion, benefit fraud and bribery. Reporting occurs without client knowledge; notifying clients constitutes criminal “tipping off.” The firm fulfils obligations per ICAEW guidance.

22. Lien

The firm reserves lien rights over client funds, documents and records relating to all engagements until outstanding fees are paid.

23. The Provision of Services Regulations 2009

Acumon is registered for UK and Ireland audit work by ICAEW (reference C001681357, viewable at auditregister.org.uk). Professional indemnity insurance is provided by CNA Insurance Company Limited, London, with worldwide coverage excluding USA, Canada and US Virgin Islands offices and court actions.

Contact

For questions about these terms, please contact us directly.