Pricing Policy Disclaimer
Pricing Policy and Billable Time Principles
1. Nature of Professional Services
Madeira Corporate Services (MCS) is a regulated professional advisory firm. Its services are delivered by qualified professionals acting under applicable legal, tax, accounting, and regulatory standards, and subject to professional responsibility and accountability.
Professional time constitutes the core of the services provided by MCS. Accordingly, any time spent by MCS professionals in connection with a Client’s matter is billable by default, irrespective of the form or context in which such services are rendered. This applies regardless of the communication channel used, the duration of the interaction, the perceived simplicity of the matter, or whether advice was requested expressly or arose in the course of an interaction.
Where an MCS professional is engaged in a Client matter, professional time is recorded.
2. Fee Structure
Services are provided either on a fixed-fee basis, where expressly agreed in writing, or on an hourly basis in all other cases.
Hourly fees are determined by reference to the professional seniority, qualifications, and experience of the individuals involved, the actual time spent, the responsibility assumed and value delivered, the novelty and complexity of the matter, applicable urgency or deadline constraints, and prevailing market rates charged by professional firms of comparable standing.
Work performed outside normal business hours (before 09:00 or after 18:00, Madeira Standard Time – UTC 0), where required by urgency or at the Client’s request, may be subject to a surcharge of up to 50%.
3. Time Recording and Minimum Billing Unit
Professional time is recorded based on actual time spent, subject to a minimum billing unit of 15 minutes per interaction. Where multiple short interactions occur, such time may be aggregated for billing purposes.
This methodology reflects standard practice among international professional services firms and is applied consistently.
4. Scope of Billable Time
Billable time includes, without limitation, all professional activities reasonably required to deliver the services engaged, including communications, analysis, preparation, execution, coordination, and follow-up. This encompasses, inter alia, calls, meetings, written correspondence, research, drafting and review of documentation, internal technical discussions, compliance and record-keeping activities, administrative and accounting work necessary for proper execution of the mandate, and the calculation and allocation of expenses incurred on behalf of the Client.
Where an activity is required to perform the services to an appropriate professional standard, it constitutes billable time.
5. Expenses and Disbursements
Third-party expenses incurred in connection with a Client’s matter, including governmental fees, notarial and registration costs, courier services, translations, or travel, are charged at cost and itemised separately.
Professional time spent managing, coordinating, processing, or accounting for such expenses is not included in those costs and is billed separately as professional time. Where applicable, expenses may be subject to VAT, which remains the Client’s responsibility.
MCS may advance expenses on behalf of a Client only upon prior approval and receipt of sufficient funds.
6. Taxes, Duties, and Client Responsibilities
MCS does not assume responsibility for the payment of taxes, levies, fees, penalties, or other charges imposed by governmental or regulatory authorities.
Responsibility for compliance with Portuguese law, including tax, social security, and regulatory obligations, remains solely with the Client. MCS shall not be liable for any penalties, interest, or additional costs arising from Client non-compliance, delays, omissions, or errors attributable to prior advisors or third parties.
7. Value Added Tax
All fees and applicable expenses are subject to Value Added Tax (VAT) at the legal rate in force, unless a valid statutory exemption applies.
8. Invoicing and Payment
Fees and expenses are invoiced at the conclusion of the work, at agreed milestones, or on a periodic basis (monthly, quarterly, semi-annual, or annual), depending on the terms of the engagement.
Where invoices are settled in a currency other than euros, or where specific collection procedures are requested, MCS reserves the right to charge any associated costs.
9. Binding Effect
This Pricing Policy applies upon execution of an engagement letter or services agreement, upon written confirmation of services by email, or upon instruction to proceed, including where no formal contract has yet been executed.
By requesting services, the Client acknowledges and accepts the applicability of this Pricing Policy. No MCS team member is authorised to waive or modify fees verbally, informally, or by implication.
10. Fee Finality
Fee arrangements are discussed prior to the commencement of work. Invoices issued in accordance with recorded professional time reflect services rendered and are final. Disputes based on alleged misunderstandings regarding billable time are not accepted.
11. Non-Discrimination
MCS applies its pricing policy uniformly and does not engage in pricing discrimination on any grounds prohibited by law, including but not limited to ancestry, sex, race, language, origin, religion, political or ideological beliefs, education, social condition, sexual orientation, or gender identity.
12. Transparency and Quotations
Clients are encouraged to request written quotations or fee estimates prior to instructing services where appropriate.
Professional time is the principal resource provided by MCS.
Use of that time is subject to the terms set out in this Pricing Policy.