General Terms of Business

General Terms and Conditions for Services in accordance with the regulations of § 34 c and § 34 d by Benjamin Parge, as of 01.01.2020

Benjamin Parge Financial Advice

-Regulated financial advisor according to § 34 c and § 34 d-

Marcusallee 41, 28359 Bremen

Telephone: 0421 5650605 – 0


VAT-ID: DE317319169


The following general terms and conditions are the basis for our client relations policy. When we set up contracts, it is our goal to bring clarity and transparency to our clients. Furthermore, through the use of our expertise and supporting technology, we strive to achieve a significant improvement in the price-performance ratio and conditions of the respective contracts for our clients. In all our business relations we focus on comprehensive support of the entire contract portfolio of the respective client and maximum transparency.

1. General

The following General Terms of Business apply to all business relations between Benjamin Parge (hereinafter referred to as Benjam Parge or service provider and the contractual partner (hereafter referred to as client).

Deviating, opposing or supplementary individual contracts shall not become a part of this agreement unless their applicability has been expressly agreed in writing by Benjamin Parge.

2. Object of the agreement

2.1 The contracting parties shall agree to cooperate in accordance with the activities defined in § 34c and § 34d. The parties do not intend to enter into, and are not concluding, an employment contract.

2.2 The Service Provider shall pay its own social insurance contributions and taxes and relieve the Client from any responsibilities in this respect.

2.3 The Service Provider may also work for other clients.


3. Conclusion of the agreement

3.1 The service agreement shall be concluded by the Client placing an order (offer) and the Service Provider accepting it.

3.2 The written agreement contains the object of the agreement and/or a detailed description of tasks. Further regulations are made by issuing the brokerage contract.


4. Force Majeure

4.1 In the event of force majeure, Benjamin Parge can postpone services for the duration of the disability and start after a reasonable recovery time. Force majeure events include, strikes, lockouts, unpredictable operational disruptions, epidemics, environmental disasters, raw material shortages and all failures that were unforeseeable at the time the contract was concluded with the client and / or delays insofar as Benjamin Parge is not responsible for them.

5. Term and termination of the agreement

5.1 The agreement starts and ends on individually agreed dates.

5.2 The agreement may be terminated with notice. Die Fristen hierzu
sind im Maklervertrag geregelt. The period of notice is specified in the brokerage contract.

5.3 Termination without notice for important reasons is possible. An important reason exists, for example, if the client is in arrears with two due payments in succession and does not pay after a reasonable grace period.


6. Payment Conditions

6.1 Benjamin Parge is a financial, real estate and insurance broker operating in accordance with §34c and §34d of the German Commercial Code. For the procurement of products in the aforementioned sectors of finance, real estate and insurance, Benjamin Parge generally receives commissions and brokerage fees from the respective product partners. For consulting in these Segments that lead to the conclusion of contracts requiring remuneration, therefore no fee is due, unless a different invoice has been agreed in the contract.

6.2 However, the client has the basic possibility to ask for so-called net tariffs, i.e. tariffs without commission and, if necessary, to choose them e.g. to improve his return. In this case an individually agreed fee is due. The client will be informed of the amount and the general conditions before the contract is concluded given.

6.3 Stated estimated prices for services on a time and effort basis, especially in cost estimates, are not binding.The quantity estimates on which an estimate is based are based on an evaluation of the scope of services performed to the best of our knowledge.

6.4 For a consultation or service which serves the client exclusively to make use of our professional expertise or to support him in one of the segments mentioned above, the following fees are charged on a time and effort basis.

6.5 Further services are due and invoiced on a time and effort basis, unless a different invoice is agreed in the contract.

6.6 Within the framework of the fees, only activities are carried out which are not subject to any legal permission. No legal or tax advice is given.

6.7 We charge the effort per minute or part thereof. The hourly rate is € 270.00 plus VAT per full hour, which corresponds to € 4.50 per minute or part thereof. These are the hourly rates of Benjamin Parge – cooperation partners and/or employees of mine may agree on individual and deviating hourly rates.

6.8 The sales tax will be invoiced at the sales tax rate applicable at the time of performance.

6.9. The travel costs and expenses incurred in the execution of the contractual services shall be reimbursed by the client. Benjamin Parge shall be entitled to demand travel costs and expenses as an advance payment and to make the performance of the service dependent on the payment of the advance payment. Details shall be regulated in a separate agreement.

6.10 The remuneration is due for payment immediately after receipt of an invoice. Benjamin Parge is entitled to divide services into service sections and to invoice the remuneration for each service section separately. Details shall be agreed individually in writing.

6.11 If, during the performance of the service, it turns out that the basis for calculating the remuneration assumed at the time of conclusion of the contract is not or is no longer applicable, so that the fee to be paid will increase, Benjamin Parge shall inform the client of this immediately.

Insofar as no individual contractual arrangement has been made for such a case, and the expected fee increase exceeds more than 10% of the previously agreed fee, Benjamin Parge will only continue to provide the service once the client has given his written consent to the higher costs.

6.12 Without prejudice to his right to withhold payments due to services not yet rendered, the client is not entitled to refuse payments. He may only offset against claims that have been legally established or recognised by Benjamin Parge.

6.13 Invoices are payable on receipt without deduction. If the invoice amount has not been received within 30 days of the invoice date, the service provider is entitled to charge interest on arrears. The interest on arrears is 5% p.a. above the base rate applicable at the time of invoicing. Service providers may be used to collect the invoice.


7. Scope of services, obligations of the contracting parties

7.1 The services to be provided by the Service Provider usually comprise the tasks specified in detail in the order placed by the Client.

7.2 The Service Provider shall notify the Client periodically of the result of its activities. The contracting parties may specify a service timetable and scheduled final date for the completion of the services in the agreement.

7.3  The Service Provider shall notify the Client immediately should the Service Provider have a genuine reason for not being able to provide the contractually agreed services.

7.4 The Service Provider shall provide the equipment and personnel required for the provision of the services, as specified in the individual agreement.

The parties shall endeavour, to the best of their knowledge and belief, to support each other in the fulfilment of their respective obligations by exchanging information and experiences to ensure a smooth and efficient work process for both parties.

7.5 Each of the contracting parties may apply to the other contracting party in writing to change the scope of services agreed. Upon receipt of a change request, the recipient shall assess if such change can be implemented and if yes under which conditions and immediately forward their written agreement or rejection, including explanatory statement, to the other party. Should a change request placed by the Client require extensive assessment, the Service Provider may charge the Client for any expenses incurred due to such assessment upon giving prior notice if the Client nevertheless insists on the assessment of the change request.

Any amendments to the contractually agreed terms and conditions and services required for implementing an assessment and/or change may have to be specified in writing in a change agreement based on these general terms and conditions of business.


8. Confidentiality

8.1 The client and Benjamin Parge are obliged to use all knowledge of business and trade secrets and information designated as confidential that is obtained within the framework of a contractual relationship only for the purposes of implementing the contract and to treat it confidentially for an unlimited period of time and, unless necessary to achieve the purpose of the contract, not to pass it on or exploit it either directly or indirectly.

8.2 Benjamin Parge and the client are committed to ensuring that this confidentiality agreement is also applied by the respective employees. They shall be bound accordingly by a written confidentiality agreement which must be proven.

8.3 This obligation of secrecy does not apply to such Information that has become known from publicly available sources or can be taken from there. The other Party shall bear the burden of proof for the existence of such an exception. The obligation of secrecy shall also not apply to such information that must be disclosed due to laws or official orders.


9. Data procurement

9.1 The information and documents necessary for Benjamin Parge to deliver his services shall be supplied by the client. The client shall be responsible for their correctness, topicality and completeness. Unless otherwise agreed in writing, a data collection is only complete if all information and documents required for the provision of the service and to be entered in the respective data collection sheet are available. The information and documents required for the respective service to be provided by Benjamin Parge shall be separately in writing.

9.2. The client hereby confirms instantly to inform Benjamin Parge in written form of all changes related to his address details or financial status. The client is obligated to supply documents and information fully and truthfully.

9.3 Benjamin Parge may rely on the accuracy of the client information. He and/or an employee or cooperation partner is not obliged to check the information provided by the client.

9.4 The decision as to whether information and documents pursuant to Clauses 9.1 and 9.2 are important for Benjamin Parge’s services under the respective contract shall be made exclusively by Benjamin Parge, taking into account and applying the obligations contractual obligations.

9.5 Benjamin Parge is entitled to demand a renewed and complete delivery of the data in accordance with clause 9.1 if the data was handed over in such an incomplete or unstructured format that the procurement of information, supplementation or preparation of the data requires a time expenditure of more than two hours.

9.6 Should it become apparent during the performance of the service that the data and documents required for the performance of the service are not completely available to Benjamin Parge and should this result in additional expenditure (e.g. for the completion of the information and documents and/or changes to the financial analysis) of more than two hours of time for Benjamin Parge, the client must pay for this expenditure in accordance with the separate remuneration agreement. In the absence of a separate remuneration agreement, the hourly rate of EUR 270 (plus statutory VAT) listed here shall be deemed agreed.

10. Liability, limitation of liability, exclusion of liability

10.1 Benjamin Parge shall be liable within the scope of the statutory provisions for its own fault and for the fault of its own employees and assistants for intent and gross negligence in compliance with the following provisions.

10.2 Benjamin Parge has signed financial loss liability insurance with

a) an amount of coverage in accordance with the legal requirements for an insurance in the insurance sector. This corresponds to a sum insured per insured event of EUR 1,400,000 and a maximum benefit per insurance year of EUR 2,800,000.

b) an amount of coverage that meets the legal requirements in the area of financial assets. This corresponds to a sum insured per insured event of 250.000 EUR and a maximum benefit per insurance year of EUR 500.000 EUR

c) an amount of coverage that meets the legal requirements in the housing loans sector. This corresponds to a sum insured per insured event of 250.000 EUR and a maximum benefit per insurance year of EUR 500.000 EUR

d) a sum insured of EUR 1 million per individual case and EUR 2 million maximum benefit per year in financial planning

and sum insured per insured event EUR 1,400,000 maximum benefit per insurance year EUR 2,800,000

Information on professional liability insurance and related regulations:

Allianz Versicherung
Financial loss liability insurance

Allianz Versicherung AG
10900 Berlin

Geltungsraum der Versicherung: Deutschland

Benjamin Parge is obliged to maintain the insurance in this extent for as long as the contractual relationship with the client exists. If a higher liability sum may be required in an individual case, Benjamin Parge and the client shall discuss this and decide whether a higher cover sum should be taken out for this individual case. The client shall bear the costs of a higher sum insured.

10.3 Insofar as a claim for damages by the client against Benjamin Parge is subject to a shorter limitation period by law, it shall be subject to a limitation period of three years from the time at which it arose. The claim must be asserted within six months after the client has become aware of the damage.

10.4 Benjamin Parge shall only be liable in the event of minor negligence in the event of a breach of substantial contractual obligation (cardinal obligations) and only up to the amount of the cover sums existing in accordance with Clause 10.2 and only for compensation for typical damage that was foreseeable for Benjamin Parge at the time of conclusion of the contract. Benjamin Parge’s liability for further damage is expressly excluded. The limitation of liability shall not apply in cases of intent and gross negligence.

10.5 Any liability is excluded for oral information of any kind, in particular by telephone, outside of a concrete consulting order. This shall not apply if the details are confirmed in writing with the circumstances described by the customer.

10.6 Benjamin Parge shall not be liable for the loss of data, indirect or consequential damage or for damage resulting from interruptions or delays in operation caused by the fact that the customer provides data in electronic form (e.g. by e-mail or the Internet) or is provided by Benjamin Parge. In the event of intent or gross negligence, Benjamin Parge’s liability for loss of data shall be limited to the typical restoration effort that would have been required if regular back-up copies had been made in accordance with the level of risk. The creation of Backup copies are the responsibility of the customer. The further terms and conditions regarding liability and statute of limitations are set out in the respective brokerage agreement.

11. Right of withdrawal

You have the right to withdraw from this contract within 14 days without giving any reason. The withdrawal period is 14 days from the day of the conclusion of the contract.


To exercise your right of withdrawal, you must inform us,

Benjamin Parge Financial Advice
-Regulated financial advisor according to § 34 c and § 34 d-

Marcusallee 41, 28359 Bremen
Telephone: 0421 5650605 – 0
Fax: 0421 8070 910 20

VAT-ID: DE317319169

of your decision to withdraw from this contract by an unequivocal statement (e.g. a letter sent by post or e-mail).

To meet the withdrawal deadline, it is sufficient for you to send your communication concerning your exercise of the right of withdrawal before the withdrawal period has expired.

If you withdraw from this contract, we shall reimburse to you all payments received from you without undue delay and in any event not later than 14 days from the day on which we are informed about your decision to withdraw from this contract.

Your right of cancellation shall expire prematurely if the company begins the performance of service, at your explicit request. This is to be assumed if we have demonstrably already worked for you.


12. Place of jurisdiction

The business relationship between the parties is governed exclusively by German law. The place of jurisdiction for all disputes arising from this contract is Bremen.