Terms and Conditions

Present Terms and Conditions (hereinafter: Terms) are designed to regulate conditions of using Services of OID Ltd. By choosing OID Ltd and its affiliated companies services, the Client agrees to accept the following Terms:

 Definition

‘Incorporation agent’ means OID Ltd incorporated under the law of Commonwealth of Dominica and its subsidiaries, affiliated companies, which render the Services to the Client.

‘Client’ means a counterparty, which instructs the Incorporation agent pertaining to any matter in connection with the Services rendered or to be rendered.

‘Services’ means a provision of International Business Company formation, Registered office, Incorporation agent services as well as some ancillary services, which might be agreed between the Incorporation agent and the Client from time to time.

OID Ltd’ is a private limited company registered at 3rd Floor, C&H Towers Corner of Great Marlborough and Great George Streets, Roseau, 00152 Commonwealth of Dominica, West Indies

IBC LAB’ is a trademark of OID Ltd

‘Company’ means any corporate body, which is controlled and owned by the Client, which the recipient of the Services rendered by the Incorporation agent

Ownership

The Incorporation agent has no ownership or beneficial interest in the Company or in its business whatsoever. The sole interest of the Incorporation agent at provision of any of the Services lays in the earning of the professional fees, as specified in the Fee Schedule

Usage of services

 The Client agrees and acknowledges the fact that the Incorporation agent does not give any legal, tax or business advice for any business or private matter outside of the jurisdiction of Commonwealth of Dominica. The Client is urged to take legal or/and tax advice from qualified practitioners there is it necessary and applicable.  The Incorporation agent does not guarantee suitability of any Services or corporate structures for any particular objectives of the Client. None of the information contained in the brochures, Internet websites and other marketing material of the Incorporation agent shall be construed as tax or legal advice.

The Incorporation agent is not allowed to provide the Services to the Clients, which are engaged in certain type of activities: terrorism and terrorist financing, money laundering or receipt of proceeds from criminal activities, corruption, trade or trafficking in restricted substances, human trafficking, sanction busting, embezzlement, fraud or any other activity that is defined as criminal by the laws of Commonwealth of Dominica.

The Clients agrees that all assets introduced to the Incorporation agent have legal provenance and do not derive from any illegal activity.

Disclaimer

 The Client agrees to keep the Incorporation agent, its directors, employees, affiliated companies, agents indemnified against all proceedings, claims, charges, losses, demands which might be brought against the Incorporation agent in connection to the rendered Services in case such services were rendered to the Client based on the Client’s requests and instructions.

Such indemnification should exclude all action, claims, demands, losses, costs or damages of any kind arising from fraud, willful misconduct or gross negligence of the Incorporation agent

In the event of the discontinuation of the Services rendered by the Incorporation agent to the Client, the latter should continue to indemnify the Incorporation agent and its affiliated parties.

 

Fees and Payment

 The Client agrees to settle all invoices, which are prepared on the basis of Fee Schedule agreed between the Client and the Incorporation Agent.  In rare event then there is no Fee Schedule agreement was not negotiated between the Client and the Incorporation agent, the Fee Schedule published on www.ibclab.com should be used as a basis for the invoicing.

The Client agrees that the Incorporation agent shall not provided any services or make any statutory payments or incur any expenses unless the Incorporation agent’s invoice is properly settled in advance.

The Client agrees to settle all outstanding invoices presented by the incorporation agent in 20 days. In case the outstanding invoice is not charged within 20 days, the Incorporation agent retains the right to charge 8 % per month. The incorporation agent retains the right to refuse providing any further service until the outstanding invoice is properly settled.

The Incorporation agent is entitled to refuse rendering the Services if the outstanding invoice is not settled in full.

In case the Client decided to discontinue the usage of Incorporation agent or Registered office service, the Incorporation agent is entitled to charge a fee of 350 USD for the discontinuation of the services.

Trademarks

 IBC Lab is a trademark of OID Ltd. The names, images and logos identifying IBC Lab are proprietary marks of OID Ltd. No authority is granted to any third party for the use of those names, images and logos.

Web-site

 The contents of www.ibclab.com are provided for informational purposes only. There is nothing in this web site that constitutes legal advice. All reasonable efforts are made to ensure the accuracy of the contents of the web site, however information can quickly become out of date due to changing circumstances.

OID Ltd disclaims all liability associated with the content of this web-site. OID Ltd cannot be held liable for any third party links as well as information contained on the third party Web-sites.

 Regulation

 OID Ltd is licensed and regulated by Financial Services Unit (Ministry of Finance) of Commonwealth of Dominica. To avoid any doubts the following information should be used in case the Client should contact the Regulator of the Incorporation agent:

Financial Services Unit

Ministry of Finance

5th floor, Financial Centre

Kennedy avenue,

Roseau, Commonwealth of Dominica

OID Ltd is incorporated under the Companies Act of Commonwealth of Dominica. Company number: 2143

 Applicable Law

 All disputes,which may arise from the usage of the Services rendered by the Incorporation agent should be governed by the appropriate law of Commonwealth of Dominica.

Confidentiality

 The Incorporation agent should manage all information received from the client with reasonable skill and care in order to preserve the Client’s confidentiality.

 The Client acknowledges that Incorporation agent is bound by the regulatory obligations of the Commonwealth of Dominica and thus the Incorporation agent might be obliged to disclose the information received from the Client in the cases stipulated by the law of Commonwealth of Dominica.