The lawyers at MAGNA Lögmenn will strive to ensure the client’s interests are protected in every way. Projects are carried out according to our quality standards and in compliance with the laws and ethical rules of the Icelandic Bar Association.
The law firm’s procedures follow the terms of the agreement, which are adhered to. The most important factors, which are specifically brought to the client’s attention, are outlined below. These points are considered part of the agreement with the client.
Before undertaking any assignment, the firm ensures that there are no conflicts of interest or other circumstances that might prevent it from accepting the assignment. The same applies if new parties join the assignment later.
If the client’s interests require it and there are no explicit objections from the client, work on the assignment may commence before completing the conflict-of-interest assessment. In such cases, work will be done with reservations about the outcome of the evaluation, and the client will be informed that the assessment is pending and that the firm may need to withdraw from the agreement if necessary.
At the start of the assignment, a mandatory check will be conducted in accordance with anti-money laundering laws.
The firm’s staff who will handle client assignments include owners (lawyers in charge of the case), associates with legal qualifications, legal advisors, and general staff. Third-party contractors may also be employed to complete assignments if specific expertise is required.
All assignments are managed by a lawyer. The responsible lawyer ensures that the work is performed to the highest standard for the client and decides whether the assignment or parts of it should be handled by a lawyer, an associate, or another employee.
If the client requests a specific lawyer to handle the assignment, these requests will generally be accommodated.
The client will be kept informed about significant developments in the case and will generally receive copies of relevant correspondence.
For agreements where work is charged on an hourly basis, the firm has issued a price list, which is referenced here.
The minimum billing unit is 0.5 hours (30 minutes). Prices are subject to change with one month’s notice.
Unless otherwise agreed, assignments will be billed on an hourly rate. Individual task fees are referenced in the price list. When work is billed hourly, the complexity of the assignment and the case outcome may be considered. Hours worked and other expenses are typically billed at the end of the month. Larger expenses will be invoiced as they are incurred.
All invoices have a 12-day payment period. In case of late payment, interest will be charged according to the law.
Each invoice will generally include a time report for the assignment, detailing the tasks completed and the personnel involved. Upon request, the total number of hours worked by each staff member, as well as the hours spent on significant components of the assignment, will be provided.
If an invoice includes work on various tasks for the same client, it will specify the portion of fees related to each assignment.
The client will be notified of additional expenses for which they are liable before they are incurred unless these expenses were agreed upon in advance or deemed necessary to protect the client’s interests without prior consent.
According to procedural laws, individuals are entitled to legal aid in certain cases, where the cost of legal representation is covered by the state. The conditions for legal aid are that the individual must be below specific income and asset thresholds, although exceptions to these limits may be made. Further information about legal aid can be obtained from the Ministry of Justice or from our office. If legal aid is needed, the lawyer should be informed of this as early as possible.
In many cases, legal costs may be covered by what is known as legal costs insurance (also often referred to as legal aid insurance). This type of insurance, typically included in an individual’s home insurance, compensates policyholders for the costs of legal services they need to use. An individual may verify whether they have such insurance coverage by reviewing the terms of their insurance policy. If the need for legal consultation arises, it is important to confirm with their insurance company as soon as possible. If insurance coverage is available and the dispute is likely to be included, a lawyer can assist in notifying the insurance company about the matter and requesting confirmation that the legal expenses will be covered.
When using legal expense insurance, the firm will invoice the client for fees, who will then claim the charges from their insurance company according to the policy provisions. Our legal costs and expenses are not limited to the maximum amount reimbursed by insurance, unless otherwise agreed.
The information provided by the client and case preparation significantly aid in case management and influence the case’s cost.
All communication with the opposing party should be conducted through the firm. The client should notify us immediately if the opposing party or their lawyer contacts or attempts to contact them directly. The client will normally receive copies of all relevant correspondence from our office. These documents should be safeguarded, as reproducing them may incur additional fees.
Even in case when the firm provides an opinion on the likely outcome of a case, this does not guarantee the final result.
The client may be responsible for paying the opposing party’s legal or court fees, depending on the case’s outcome. This is solely the client’s risk and responsibility.
Fees for work on a case will be billed according to prior agreements, unless otherwise agreed. If the court awards the client less in legal fees from the opposing party compared to what is stated in these conditions, the client is liable for the difference.
Lawyers are bound by confidentiality regarding information obtained in a case, unless otherwise required by law (e.g., anti-money laundering laws). All firm personnel generally have access to case information unless prohibited by law and have signed a written confidentiality agreement. The firm reserves the right to disclose our collaboration with clients in a general manner for marketing purposes, as long as it does not conflict with the duty of confidentiality.
In handling legal matters, both the client and the lawyer have a duty of truthfulness and information. If the client does not permit the lawyer to fulfill these duties, and the lawyer cannot do so without breaching confidentiality, the lawyer may withdraw from the case. The firm will not be responsible for any potential loss the client may suffer as a result. However, the firm retains the right to full payment for work already performed.
Much of the information we receive is personal data and will be handled in accordance with data protection laws.
Disputes about whether the task was performed according to appropriate legal practice can be referred to the Icelandic Bar Association’s disciplinary committee. Complaints can also be filed if the client is dissatisfied with the lawyer’s fees.
Procedural rules of the disciplinary committee and further information about the complaint process are available on the Icelandic Bar Association’s website, www.lmfi.is, under the section “Disciplinary Committee” (Úrskurðarnefnd).
Lawyers are required to have professional liability insurance covering damages resulting from their legal practice.
We do not assume responsibility for the outcome of our advice beyond what has been specifically guaranteed. Our liability is limited to the amount of our fee for that particular case.
The firm has obligations only to the client as stated in the agreement, legislation, or otherwise, and disclaims all liability to third parties. If a third party seeks our opinion, we will evaluate it on a case-by-case basis but reserve the right to reject the request. The client agrees that work for a third party will not be conducted unless previously agreed upon in writing.
We are not responsible for the services or advice of external advisors, experts, foreign lawyers, or third parties, even if they are hired or appointed at our request on behalf of the client.
The firm does not store copies of documents beyond what is necessary to complete each assignment. Original documents should only be sent when specifically requested and agreed upon in advance.
The general terms and conditions are regularly reviewed.
MAGNA
Reykjavík, February 13, 2024
