These Terms of Cooperation (hereinafter: the “Terms”) govern the legal relationship between Company in Lithuania UAB (hereinafter: the “Company”, “we”, or “us”) and any person or entity that engages the Company for the provision of services (hereinafter: the “Client”). The Company is a private limited liability company incorporated in the Republic of Lithuania under registration number 304377400, with its registered address at Lvovo g. 25\u2013104, Vilnius, 09320, Lithuania.<\/p>\n
By entering into a service agreement or engagement letter with the Company, or by instructing the Company to commence services, the Client accepts these Terms in full. These Terms apply to all services provided by the Company unless expressly varied in writing by a separate agreement signed by an authorised representative of the Company.<\/p>\n
The Company provides professional services in the following areas: company incorporation and registration; corporate services (including registered address, bank account opening assistance, director services, and shareholder administration); accounting and bookkeeping; tax compliance and advisory; payroll services; legal advisory; immigration services; compliance and AML advisory; financial licensing advisory; and recruitment services. The specific services to be provided in any engagement are agreed in an engagement letter or service agreement (hereinafter collectively: the “Engagement Letter”) issued by the Company to the Client.<\/p>\n
In the event of any inconsistency between these Terms and an Engagement Letter, the terms of the Engagement Letter prevail to the extent of the inconsistency. These Terms apply to all matters not specifically addressed in the Engagement Letter.<\/p>\n
The Company may amend these Terms from time to time to reflect changes in legislation, regulatory requirements, business operations or the services provided. Updated Terms will be published on the Company’s website. For existing ongoing engagements, material amendments will be communicated directly to the Client at least thirty (30) calendar days before their proposed effective date. Amendments affecting the agreed scope of services, fees or other material contractual obligations will require the Client’s express agreement where required by applicable law. Continued use of services does not automatically constitute valid acceptance of every contractual amendment. Any mandatory consumer protection rights remain unaffected.<\/p>\n
Services commence when: (a) the Client and the Company have signed an Engagement Letter; or (b) the Company has issued an Engagement Letter and the Client has confirmed acceptance in writing; or (c) where the Company has commenced services at the Client’s express oral or written request and an Engagement Letter has not yet been issued, in which case these Terms apply from the date services first commenced. The Company is not obliged to commence services before the completion of its client due diligence process under Section 9 of these Terms.<\/p>\n
The Client must designate at least one authorised representative who is entitled to give instructions to the Company on the Client’s behalf. The Company is entitled to act on instructions given by the Client’s authorised representative without further verification, unless the Company has been expressly notified in writing of a change in the authorised representatives or of any limitation on their authority.<\/p>\n
The Company strongly recommends that all material instructions be given in writing \u2014 by email, letter, or through any document management platform agreed with the Company. Where oral instructions are given, the Company may request written confirmation before acting on them. The Company is not liable for errors arising from unclear or ambiguous oral instructions where the Client has declined to confirm them in writing.<\/p>\n
The quality and timeliness of the Company’s services is dependent on the Client’s prompt provision of accurate and complete information and documentation. The Client undertakes to provide all information and documentation requested by the Company within the timeframe specified by the Company \u2014 or, where no timeframe is specified, within five (5) business days of the request. The Company is not liable for any delay, error, or omission in the services caused by the Client’s failure to provide information or documentation on time or in the required format.<\/p>\n
The Client is responsible for the accuracy, completeness, and legality of all information and documentation provided to the Company. The Company is entitled to rely on information and documentation provided by the Client without independent verification unless expressly agreed otherwise. Where the Company discovers that information provided by the Client is inaccurate or incomplete, it will notify the Client and may suspend the relevant services until the accurate information is provided.<\/p>\n
The Company’s fees for services are set out in the Engagement Letter. Unless otherwise specified in the Engagement Letter, all fees are: quoted and invoiced in euros (EUR); exclusive of Lithuanian VAT (PVM), which is added to the invoice at the applicable rate where the Company is registered for VAT and the transaction is subject to VAT; and exclusive of disbursements and out-of-pocket expenses, which are charged to the Client at cost.<\/p>\n
Where the Engagement Letter specifies a fixed fee for a defined scope of services, the fixed fee is payable in full regardless of the actual time spent by the Company on the engagement, provided the scope of services has not materially changed from that agreed in the Engagement Letter. Where the Client requests services beyond the agreed scope, additional fees will be agreed in writing before the additional services are commenced.<\/p>\n
Where services are provided on a monthly retainer basis, the retainer fee is payable in advance on or before the first day of each calendar month to which it relates, unless the Engagement Letter specifies a different payment date. The retainer fee covers the services specified in the Engagement Letter. Services exceeding the scope of the retainer are charged at the applicable additional rates.<\/p>\n
Disbursements and third-party costs incurred by the Company on the Client’s behalf \u2014 including government fees, notarial fees, court fees, translation costs, courier charges, and similar out-of-pocket expenses \u2014 are charged to the Client at cost, without mark-up, unless otherwise agreed. The Company will seek the Client’s prior approval before incurring any single disbursement exceeding \u20ac200.<\/p>\n
The Company issues invoices to the Client by email to the email address specified in the Engagement Letter or subsequently notified in writing. Invoices are issued: (a) for fixed-fee engagements, on completion of the relevant service or at the milestones specified in the Engagement Letter; (b) for monthly retainer engagements, at the start of each month; and (c) for time-based engagements, monthly in arrears or at the completion of the engagement. All invoices are payable within fourteen (14) calendar days of the invoice date, unless the Engagement Letter specifies a different payment period.<\/p>\n
Where an invoice is not paid by the due date, the Company reserves the right to: (a) charge late payment interest at the rate of 0.05% per day on the outstanding amount from the due date until the date of actual payment; (b) suspend the provision of services to the Client until all outstanding invoices are paid; and (c) terminate the engagement in accordance with Section 11 of these Terms. The Company’s right to charge late payment interest is without prejudice to its right to recover the principal amount due and any reasonable costs of collection.<\/p>\n
Where the Client disputes an invoice, the Client must notify the Company in writing within seven (7) calendar days of the invoice date, specifying the nature and amount of the dispute. The undisputed portion of the invoice remains payable by the original due date. The parties will seek to resolve the dispute in good faith. If the dispute is not resolved within thirty (30) days of the Client’s notification, either party may refer it to the complaint handling procedure set out in the Company’s Complaint Handling Policy.<\/p>\n
Where Lithuanian VAT applies to the services provided, it is added to the invoice at the applicable rate. The Client is responsible for any taxes payable in the Client’s own jurisdiction in connection with the services received. The Company is not responsible for advising on the Client’s tax obligations in relation to the receipt of the Company’s services unless such advice has been expressly agreed as part of the engagement.<\/p>\n
The Company undertakes to provide its services with reasonable skill, care, and diligence, consistent with the standard expected of a competent professional services firm in the Republic of Lithuania. The Company does not guarantee any particular outcome unless a specific outcome is expressly warranted in the Engagement Letter.<\/p>\n
Where the Engagement Letter specifies delivery timeframes, the Company will use reasonable endeavours to meet them. Timeframes are indicative unless expressly stated to be binding obligations in the Engagement Letter. The Company will notify the Client promptly where it anticipates a delay in delivery and will provide a revised expected delivery date.<\/p>\n
All advice and opinions provided by the Company are based on the law and regulatory requirements of the Republic of Lithuania as in force at the time the advice is given. The Company does not undertake to update advice given in the past in response to subsequent changes in law or regulation unless expressly instructed to do so as part of an ongoing engagement. The Client is responsible for informing the Company of any changes in its circumstances that may affect the advice previously given.<\/p>\n
Unless expressly agreed otherwise in the Engagement Letter, the Company provides advice exclusively on Lithuanian law and Lithuanian regulatory requirements. The Company does not provide advice on the laws of any other jurisdiction. Where a matter involves the law of another jurisdiction, the Client is responsible for obtaining appropriate legal or professional advice in that jurisdiction. The Company may, at the Client’s request and at the Client’s cost, assist in identifying and instructing professionals in other jurisdictions, without assuming responsibility for the advice they provide.<\/p>\n
Where the Company relies on information provided by third parties \u2014 including government authorities, public registers, banks, or other professional advisers \u2014 in the course of providing services, it does so in good faith. The Company is not liable for inaccuracies in third-party information of which it is not aware and which it could not reasonably have detected.<\/p>\n
The Company treats all information received from the Client in the course of an engagement as confidential. The Company will not disclose such information to third parties without the Client’s prior written consent, except: (a) to the extent required by applicable law, by a court of competent jurisdiction, or by a regulatory or supervisory authority; (b) to professional advisers engaged by the Company for the purpose of the engagement, who are themselves bound by confidentiality obligations; (c) where the information is already in the public domain through no fault of the Company; or (d) to the extent necessary to comply with the Company’s AML\/CTF obligations under the Law on the Prevention of Money Laundering and Terrorist Financing.<\/p>\n
The Client undertakes to keep confidential any information provided by the Company that is marked as confidential or that is by its nature confidential \u2014 including the Company’s internal procedures, pricing arrangements, and unpublished methodologies. This obligation survives termination of the engagement.<\/p>\n
The Company may refer to the fact that it has provided services to the Client as a reference in its marketing materials, subject to the Client’s prior written consent. The Company will not disclose the specific nature or terms of the engagement without the Client’s consent.<\/p>\n
All documents, reports, templates, analyses, software, systems, methods, and other materials created by the Company in the course of providing services (hereinafter: “Work Product”) are, unless otherwise agreed in writing, the intellectual property of the Company until full payment of all fees relating to that Work Product has been received. Upon receipt of full payment, the Company grants the Client a non-exclusive, perpetual licence to use the Work Product for the purposes for which it was created.<\/p>\n
Any methodologies, templates, databases, or other materials developed by the Company prior to or independently of the engagement (hereinafter: “Background Materials”) remain the property of the Company at all times. Where Background Materials are incorporated into Work Product, the Client receives a licence to use the Work Product for its intended purpose but does not acquire any rights in the Background Materials themselves.<\/p>\n
Where the Company incorporates third-party materials \u2014 including publicly available legal texts, court decisions, or other publicly licensed content \u2014 into Work Product, it does so in compliance with the applicable licence terms. The Company will notify the Client where Work Product contains third-party materials that are subject to usage restrictions.<\/p>\n
The Company is liable to the Client for losses directly caused by the Company’s breach of its obligations under these Terms or under an Engagement Letter, including losses caused by the Company’s negligence. The Company’s liability does not extend to indirect, consequential, or incidental losses, or to loss of profit, loss of revenue, or loss of business opportunity, whether or not such losses were foreseeable at the time of the breach.<\/p>\n
Unless otherwise expressly agreed in the Engagement Letter and subject to Section 7.3 of these Terms, the Company’s aggregate liability to the Client in connection with any engagement is limited to the lesser of: (a) the total fees paid by the Client to the Company under the relevant Engagement Letter in the twelve (12) months immediately preceding the event giving rise to the claim; or (b) \u20ac50,000 (fifty thousand euros). This limitation applies to all claims arising from or in connection with the relevant engagement, whether in contract, tort, or otherwise.<\/p>\n
The limitation of liability in Section 7.2 does not apply to liability arising from: (a) fraud, intentional misconduct or gross negligence by the Company or persons for whose conduct the Company is legally responsible; (b) death, personal injury or non-pecuniary damage where limitation or exclusion of liability is prohibited by law; or (c) any other liability that cannot lawfully be excluded or limited. Under Article 6.252 of the Lithuanian Civil Code, contractual provisions excluding or limiting liability for intentional misconduct or gross negligence are invalid. Any limitation of liability is also subject to applicable mandatory consumer protection requirements.<\/p>\n
The Client has a duty to take reasonable steps to mitigate its loss upon becoming aware of any breach by the Company. The Company is not liable for losses that the Client could have avoided or reduced by taking reasonable mitigating action.<\/p>\n
Where the Company engages third-party professionals \u2014 including lawyers, auditors, or specialist advisers in other jurisdictions \u2014 on the Client’s behalf, the Company does so as agent of the Client. The Company is not responsible for the acts, omissions, or advice of such third-party professionals and any engagement with them is subject to the terms and conditions of the relevant third party.<\/p>\n
The Company is not liable for failure or delay in performing its contractual obligations to the extent that the failure or delay results from a force majeure event meeting the requirements of Article 6.212 of the Lithuanian Civil Code. Such an event must be beyond the Company’s reasonable control, could not reasonably have been foreseen or prevented, and must make performance impossible under the applicable legal conditions. Cyberattacks, changes in legislation or failures of third-party systems do not automatically qualify as force majeure. The Company must demonstrate that the relevant statutory conditions are satisfied and take reasonable measures to mitigate the consequences of the event. The Company will notify the Client of any force majeure event and will resume performance as soon as practicable after the circumstances giving rise to the force majeure have ceased.<\/p>\n
The Company processes personal data provided by or on behalf of the Client in accordance with the EU General Data Protection Regulation (Regulation (EU) 2016\/679 \u2014 GDPR) and the Law of the Republic of Lithuania on Legal Protection of Personal Data. The Company’s Privacy Policy, which sets out the details of all personal data processing activities, is available on the Company’s website at www.tet.lt.<\/p>\n
Where the Client provides the Company with personal data relating to third parties \u2014 including employees, directors, shareholders, or counterparties of the Client \u2014 for the purpose of the engagement, the Client warrants that: (a) it has a lawful basis for providing such personal data to the Company; (b) the relevant individuals have been informed of the disclosure in accordance with Articles 13\u201314 of the GDPR; and (c) the personal data provided is accurate and current.<\/p>\n
Where the Company processes personal data on behalf of the Client as a data processor within the meaning of Article 28 of the GDPR, the parties will enter into a Data Processing Agreement (DPA) in the form attached to or referenced in the Engagement Letter. Where the Company acts as a data processor on behalf of the Client, the processing must be governed by a written Data Processing Agreement (DPA) meeting the requirements of Article 28(3) of the GDPR. The agreement must specify the subject matter, duration, nature and purposes of processing, categories of personal data and data subjects, and the rights and obligations of the parties. It must also contain the mandatory provisions concerning documented instructions, confidentiality, security measures, sub-processors, assistance with data subject rights, personal data breaches, deletion or return of data, and audit rights. These Terms do not replace a DPA unless all mandatory Article 28 requirements are incorporated into a legally binding agreement between the parties.<\/p>\n
As an obliged entity under the Law of the Republic of Lithuania on the Prevention of Money Laundering and Terrorist Financing (PPTFP\u012e), the Company is required to perform customer due diligence (CDD) before establishing any business relationship and to conduct ongoing monitoring of all business relationships. The Client is required to cooperate fully with the Company’s CDD process and to provide all identification and verification documentation requested by the Company.<\/p>\n
The Company may require the Client, its directors, shareholders, beneficial owners, and authorised representatives to provide: proof of identity (passport, national identity card, or equivalent); proof of address; details of the Client’s business activities and source of funds; corporate documents (articles of association, register extracts, shareholders’ register); and any other documentation required to satisfy the Company’s CDD obligations. The Company reserves the right to request updated or additional documentation at any time during the engagement.<\/p>\n
The Company reserves the right to decline to commence services or to terminate an existing engagement where: (a) the Client fails to provide the documentation required for CDD within the timeframe specified by the Company; (b) the CDD process reveals information that prevents the Company from acting for the Client under applicable law or the Company’s own policies; (c) the Company forms a suspicion that the Client or any connected person is involved in money laundering or terrorist financing; or (d) the Company determines that proceeding with the engagement would place it in breach of applicable law or professional obligations.<\/p>\n
The Company is required by law to report suspicious transactions and activities to the Financial Crime Investigation Service (FNTT) and is prohibited from informing the Client that such a report has been or may be made. Nothing in these Terms obliges or permits the Company to make a disclosure that would constitute a tipping-off offence under the PPTFP\u012e.<\/p>\n
The Company manages conflicts of interest in accordance with its Conflicts of Interest Policy, a copy of which is available on the Company’s website and on request. Where a conflict of interest arises in connection with a Client engagement, the Company will notify the Client and will implement the appropriate management measures in accordance with the Policy. Where a conflict cannot be managed adequately, the Company may decline or withdraw from the relevant engagement.<\/p>\n
These Terms remain in force for the duration of each engagement between the Company and the Client. They apply to all services provided by the Company to the Client, whether under a single engagement or multiple engagements, unless expressly superseded by a written agreement signed by both parties.<\/p>\n
The Client may terminate an engagement by providing written notice to the Company, subject to the applicable statutory rules and the nature of the services provided. Under Article 6.721(1) of the Lithuanian Civil Code, a client may generally terminate a contract for services unilaterally, even where performance has already commenced. In such circumstances, the Client must pay for services actually provided before termination and reimburse reasonable expenses incurred by the Company in performing the agreement before receiving the termination notice. Any contractual notice period applies only to the extent permitted by mandatory Lithuanian law. Expenses committed but not yet incurred may be charged only where legally recoverable and appropriately justified.<\/p>\n
The Company may terminate an engagement in accordance with the applicable contractual and statutory requirements. Under Article 6.721(2) of the Lithuanian Civil Code, a service provider may generally terminate a contract for services unilaterally only for important reasons and must compensate the Client for losses resulting from such termination in accordance with the applicable legal provisions. A general right to terminate an ongoing service engagement solely for convenience on thirty (30) days’ notice does not automatically override these statutory requirements. Any additional termination rights must be consistent with the nature of the contract and mandatory Lithuanian law.<\/p>\n
On termination of an engagement for any reason: (a) the Client must pay all outstanding fees and disbursements within fourteen (14) days of the effective date of termination; (b) each party must return or destroy the other party’s confidential information on request, subject to any legal or regulatory retention obligations; (c) the Company will provide the Client with a handover of all Client documents and information held by the Company in connection with the engagement; and (d) the provisions of these Terms that by their nature survive termination \u2014 including confidentiality, data protection, intellectual property, liability, and governing law provisions \u2014 continue to apply.<\/p>\n
Complaints about the Company’s services are handled in accordance with the Company’s Complaint Handling Policy, a copy of which is available on the Company’s website at www.tet.lt and on request. Complaints may be submitted by email to info@tet.lt. The Company will acknowledge all complaints within two (2) business days and will aim to resolve them within twenty (20) business days.<\/p>\n
These Terms and all Engagement Letters, and any non-contractual obligations arising out of or in connection with them, are governed by and construed in accordance with the law of the Republic of Lithuania.<\/p>\n
In the event of any dispute arising out of or in connection with these Terms or any Engagement Letter, the parties will first seek to resolve the dispute through good-faith negotiation. Either party may initiate negotiation by giving written notice to the other party describing the nature of the dispute and the resolution sought. The parties will negotiate in good faith for a period of thirty (30) days from the date of such notice \u2014 or such longer period as they may agree \u2014 before either party commences formal dispute resolution proceedings.<\/p>\n
Where a dispute has not been resolved through negotiation within the period specified in Section 13.2, either party may propose that the dispute be referred to mediation. Mediation will be conducted in accordance with the rules of the Lithuanian Mediation Centre or another mutually agreed mediation institution, unless either party considers that the nature of the dispute makes mediation inappropriate. Participation in mediation is voluntary and without prejudice to either party’s right to pursue formal legal proceedings.<\/p>\n
Any dispute arising out of or in connection with these Terms or an Engagement Letter shall be submitted to the competent courts determined under applicable Lithuanian procedural law and relevant EU rules on jurisdiction, including Regulation (EU) No 1215\/2012 where applicable. For business-to-business disputes, the parties may agree on the jurisdiction of a competent Lithuanian court to the extent permitted by law. Where the Client is a consumer, mandatory consumer jurisdiction protections remain applicable, and this provision does not restrict the Client’s right to bring proceedings before a court having jurisdiction under applicable EU or national legislation. The jurisdiction of a particular court in Vilnius depends on the applicable subject-matter and territorial jurisdiction rules.<\/p>\n
Where the Client is a consumer \u2014 a natural person acting outside the scope of their business or professional activities \u2014 the Client retains all rights granted by applicable EU and Lithuanian consumer protection law, including the right to submit a complaint to the State Consumer Rights Protection Authority (Valstybin\u0117 vartotoj\u0173 teisi\u0173 apsaugos tarnyba \u2014 VVTAT) at www.vvtat.lt. Nothing in these Terms limits or excludes any right that the Client has as a consumer under mandatory applicable law.<\/p>\n
These Terms, together with any Engagement Letter and any documents incorporated by reference, constitute the entire agreement between the Company and the Client with respect to the subject matter of the engagement and supersede all prior representations, agreements, and understandings between the parties relating to that subject matter.<\/p>\n
If any provision of these Terms is found to be invalid, unenforceable, or illegal under applicable law, that provision will be severed from the Terms, and the remaining provisions will continue in full force and effect. The parties will negotiate in good faith to replace the severed provision with a valid provision that most closely achieves the original intent of the severed provision.<\/p>\n
A failure or delay by either party in exercising any right or remedy under these Terms does not constitute a waiver of that right or remedy. A waiver of any specific breach does not constitute a waiver of any subsequent breach of the same or any other provision.<\/p>\n
The Client may not assign or transfer any of its rights or obligations under these Terms or any Engagement Letter without the prior written consent of the Company. The Company may assign contractual rights or transfer contractual obligations only in accordance with the Lithuanian Civil Code and the applicable Engagement Letter. A transfer of contractual obligations to another legal entity generally requires the Client’s consent where required by law. The Company will notify the Client of any proposed transfer affecting the identity of the service provider and obtain the necessary agreement before the transfer becomes effective. Any transfer must preserve the Client’s statutory rights, confidentiality protections and applicable data protection safeguards.<\/p>\n
All notices under these Terms must be given in writing and delivered by: (a) email to the email address specified in the Engagement Letter or subsequently notified in writing; or (b) post to the registered or business address of the relevant party. Notices sent by email are deemed received on the business day following despatch. Notices sent by post are deemed received three (3) business days after posting.<\/p>\n
These Terms are issued in the English language. Where translations of these Terms are made available, the English version prevails in the event of any inconsistency between the English version and any translation.<\/p>\n
Nothing in these Terms creates an employment, agency, partnership, or joint venture relationship between the Company and the Client. The Company acts as an independent contractor in the provision of all services.<\/p>\n
Both parties represent that they will comply with all applicable anti-bribery and anti-corruption laws, including the Law of the Republic of Lithuania on Prevention of Corruption. Neither party will offer, promise, give, request, or receive any financial or other advantage in connection with these Terms that constitutes a bribe or improper inducement.<\/p>","protected":false},"excerpt":{"rendered":"
Terms of Cooperation 1. General Provisions These Terms of Cooperation (hereinafter: the “Terms”) govern the legal relationship between Company in Lithuania UAB (hereinafter: the “Company”, “we”, or “us”) and any person or entity that engages the Company for the provision of services (hereinafter: the “Client”). The Company is a private limited liability company incorporated in…<\/p>","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"class_list":["post-38118","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/tet.lt\/lt\/wp-json\/wp\/v2\/pages\/38118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tet.lt\/lt\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/tet.lt\/lt\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/tet.lt\/lt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tet.lt\/lt\/wp-json\/wp\/v2\/comments?post=38118"}],"version-history":[{"count":3,"href":"https:\/\/tet.lt\/lt\/wp-json\/wp\/v2\/pages\/38118\/revisions"}],"predecessor-version":[{"id":38220,"href":"https:\/\/tet.lt\/lt\/wp-json\/wp\/v2\/pages\/38118\/revisions\/38220"}],"wp:attachment":[{"href":"https:\/\/tet.lt\/lt\/wp-json\/wp\/v2\/media?parent=38118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}