Terms and Conditions
Definitions:
“Client” means natural person(s) or entities with which RAA has an executed letter of engagement.
“Firm” means RAA Limited and RAA Auditing of Accounts, together termed as “RAA”.
1. Notifications to Regulators
The Client agrees that RAA will promptly notify the relevant Regulators in accordance with applicable regulatory requirements of:
- Any significant event or other matter relating to the Client which the Regulator would expect to be notified of.
- Any event, change, or circumstance requiring notification to the Regulator under applicable rules.
Where applicable, the Client agrees that RAA will promptly notify the UAE Central Bank FIU of any matter requiring reporting under UAE Federal Laws.
2. Money Laundering / Terrorism Financing / Sanctions Violations
RAA has a duty under Federal Decree-Law No. 20 of 2018 (as amended), relevant Cabinet Resolutions, and Central Bank Notices to report any person known or suspected to be involved in money laundering, terrorism financing, or sanctions violations to the competent authorities.
The Client confirms that to the best of their knowledge they are not involved in such activities and acknowledges responsibility to disclose if such circumstances arise. The Client agrees to waive confidentiality to the extent necessary for RAA to comply with its reporting obligations.
3. Client Identification and Onboarding
To comply with AML legislation and RAA’s internal policies, before services can be provided, the Client must produce proof of identity, address, and other information requested. RAA may conduct due diligence, background screening, and verification of source of wealth and funds as applicable.
RAA cannot accept instructions to act if such information is not provided, or if results raise unmitigated concerns.
4. Fees
Fees will be transparently communicated. Any work beyond scope will be billed separately. VAT, taxes, and reasonable expenses are excluded from fee estimates unless specified otherwise.
5. Confidentiality Agreement
RAA will comply with all applicable data protection and confidentiality laws. Proper internal controls are maintained to protect Client data. RAA may be legally obliged to report suspicious activity to competent authorities and cannot notify the Client if such reporting occurs.
6. Data Protection
RAA processes personal data only as necessary to perform services, enhance records, comply with laws, and prevent crime. RAA complies with the UAE Data Protection framework and ADGM laws as applicable.
7. Intellectual Property Rights
RAA retains all copyright and intellectual property in documents and material prepared during engagement unless otherwise provided by law.
8. Third Party Rights
Services and advice are provided solely for the Client’s use. No third party shall rely on them without RAA’s prior written consent.
9. Mutual Obligation
Neither RAA nor the Client shall solicit employment of each other’s staff during the engagement and for 24 months thereafter. Breach may result in compensation claims.
10. Limitation of Liability
RAA will perform services with due care. Liability is limited to fees invoiced for the relevant services, except in cases of fraud, wilful misconduct, or gross negligence.
11. Law and Jurisdiction
This Agreement is governed by UAE law, including ADGM Regulations and Dubai Economy and Tourism regulations, as applicable. Any dispute shall be referred to arbitration under DIAC or ADGM Arbitration Centre rules.
Entity Information
RAA Auditing of Accounts — A sole establishment licensed by Dubai Economy and Tourism (DET), carrying on the activity of Auditing of Accounts.
RAA Limited — A Private Company Limited by Shares incorporated under the laws of the Abu Dhabi Global Market (ADGM) with its registered address at Cubicle C07, Level 11, Al Sarab Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates.