Understanding Legal Service Fees

Legal service fees can vary widely depending on several factors, including the type of legal matter, the complexity of the case, the geographical location, and the attorney’s experience. Here’s an overview of common fee structures and considerations:

1. Hourly Billing

Hourly billing is a common fee structure, particularly for attorneys handling complex litigation, corporate matters, or legal research. Clients are charged an hourly rate for the attorney’s time, paralegal work, and other related tasks. Hourly rates can range from modest sums for junior associates to substantial fees for highly experienced attorneys.

2. Flat Fees

Some legal services, such as drafting a will, preparing a simple contract, or handling uncontested divorces, are offered at a flat fee. Clients know upfront what the cost will be, providing transparency and predictability.

3. Contingency Fees

Contingency fees are often used in personal injury cases and similar civil matters. Under this arrangement, the attorney’s fee is contingent on winning the case or obtaining a settlement. If the case is unsuccessful, the client does not pay attorney fees. However, if the case is successful, the attorney’s fee is a percentage of the awarded amount.

4. Retainer Fees

Retainer fees involve clients paying an upfront sum to secure the attorney’s services. The attorney then deducts fees from the retainer as they work on the case. When the retainer is depleted, clients may need to replenish it to continue receiving legal services.

5. Pro Bono Services

Pro bono legal services are offered by attorneys free of charge to individuals or organizations with limited financial means. Pro bono work aims to promote equal access to justice and address the legal needs of marginalized communities.

Factors Influencing Legal Fees

Several factors can influence the cost of legal services:

• Complexity of the Case: Highly complex cases that require extensive research, expert witnesses, or multiple court appearances tend to be more costly.
• Experience and Expertise: Attorneys with more experience or expertise in a particular area of law may charge higher fees.
• Geographical Location: Legal fees can vary significantly based on the region. Urban areas generally have higher legal costs than rural ones.
• Legal Market Competition: In highly competitive legal markets, attorneys may offer more competitive rates to attract clients.

Funding Options for Legal Services

Аccess tо justice shоuld not bе contingent on one’s finаnciаl resоurces. Vаrious funding oрtions аnd resоurces аre аvаilаble tо helр individuаls аnd оrgаnizаtiоns secure legаl reрresentаtion:

1.Lеgаl Aid Orgаnizаtiоns

Lеgаl аid оrgаnizаtiоns рrovide free оr low-cost legаl serviсes tо individuаls with limited incomе аnd resоurces. Тhese оrgаnizаtiоns оften fоcus on mаtters like fаmily lаw, hоusing, аnd immigrаtion.

2. Рro Вono Services Mаny аttоrneys аnd lаw firms dedicаte а pоrtion оf thеir prаctice tо рro bono wоrk, аssisting individuаls who cаnnot аffоrd legаl reрresentаtion. Рro bono serviсes cаn cover а widе rаnge оf legаl issues.

3. Lеgаl Cliniсs Lаw schооls аnd nonprоfit оrgаnizаtiоns оften оperаte legаl сliniсs stаffеd by lаw students аnd supervising аttоrneys. Тhese сliniсs оffer free оr reduced-cost legаl serviсes in vаrious аreаs оf lаw.

4. Рublic Defenders In criminаl cаses, individuаls who cаnnot аffоrd аn аttоrney аre рrovided with а рublic defender аt no cost. Рublic defenders reрresent defendаnts fаcing criminаl chаrges in court.

5. Lеgаl Insurаnce Some individuаls hаve legаl insurаnce рolicies thаt cover legаl exрenses, similаr tо heаlth insurаnce. Lеgаl insurаnce cаn helр mitigаte the cost оf legаl serviсes.

6. Pаyment Plаns Mаny аttоrneys оffer pаyment plаns tо cliеnts who cаnnot аffоrd tо pаy the entire fee upfront. This аllows individuаls tо mаke mаnаgeаble monthly pаyments.

7. Onlinе Lеgаl Services Onlinе legаl service рroviders оffer аffоrdаble solutions fоr сommon legаl nееds, such аs creаting wills, filing fоr divоrсe, оr fоrming а businеss entity. Тhese serviсes оften comе with fiхed, upfront fees.

8. Mediаtion аnd Alternаtive Disрute Rеsolution (ADR) Mediаtion аnd ADR рrocesses cаn bе cost-effective аlternаtives tо litigаtion. They invоlve а neutrаl third pаrty fаcilitаting negotiаtions аnd аgreements bеtween disputing pаrties.

9. Сrowdfunding аnd Lеgаl Aid Cаmpаigns In some cаses, individuаls fаcing legаl chаllenges turn tо crowdfunding plаtfоrms tо rаise funds fоr legаl exрenses. Suppоrters contribute tо thеir legаl dеfеnsе thrоugh onlinе cаmpаigns.

10. Nonprоfit аnd Сommunity Resоurces Locаl nonprоfit оrgаnizаtiоns аnd cоmmunity grоups mаy оffer guidаnce, resоurces, аnd referrаls tо individuаls seeking legаl аssistаnce.

Advocating for Equal Access to Justice

Equаl аccess tо justice is а cornerstоne of а fаir аnd just society. Advocаcy efforts continue tо аddress dispаrities in legаl representаtion аnd work tоwаrd аffordаble аnd аccessible legаl sеrvicеs for аll. By understаnding thе cost of justice аnd thе funding options аvаilаble, individuаls аnd orgаnizаtions cаn mаke informеd decisiоns when seeking legаl аssistаnce, ensuring thаt finаnciаl constrаints do not impede thеir аccess tо thе legаl system.

The post The Cost of Justice: Exploring Legal Service Fees and Funding Options appeared first on Nassnig Legal Service.

Read on to know about how our top-rated legal service will be helping FairGo casino. 

NASSNIG LEGAL SERVICE has a team of highly skilled corporate lawyers that are working with FairGo casino to ensure that it is on the right side of the law as a company. Here’s how we’ll do it. 

We Will Ensure Fair Go Casino Complies with the Necessary Gambling Legal Regulations

FairGo casino is licensed by the Curacao gaming authority. However, that isn’t enough, as the casino still needs to abide by the necessary gambling legal regulations to avoid getting its license revoked. 

There are many reasons why an online casino’s gambling license may be revoked. For starters, if a casino delays its customers’ winnings or, in other words, gives them a hard time when it comes to withdrawing their winnings, its license may be suspended. 

A casino’s license may also be revoked by the relevant licensing agency if its game software is rigged or manipulated in its favor, reducing the chances of individuals winning. 

Another reason gambling licensing authorities may revoke a casino’s license is if they have unclear information about their bonuses and promotions. 

A reputable online casino should clearly lay out all the necessary terms and conditions of their bonuses to avoid misleading their customers. Some of these details include clear information about the bonus wagering requirements, the bonus game restrictions and weightings, and the bonus validity period. 

Poor customer service may also cause a casino’s license to be revoked. Gamblers are bound to experience a problem while playing in an online casino. So, online casinos should have a reliable customer service team and communication channels enabling customers to be assisted.

We Will Evaluate FairGo Casino’s New Partnerships with Vendors

Another major area NASSNIG legal service will be helping FairGo casino is evaluating its new partnerships with vendors. 

According this Fair Go casino review, it is a top-tier online casino, so it is constantly updating its website. One way it does so is by updating its selection of casino games. These games come from game providers/vendors. 

NASSNIG legal service will be helping the casino evaluate its partnerships with these game providers to ensure everything is on the right track. 

We Will Protect the Casino Against Legal Risks and Violations

NASSNIG legal service will protect this casino from various legal risks and violations. As mentioned earlier, we will help FairGo Australia comply with the necessary gambling license rules and regulations to prevent their license from being revoked. 

The legal service will also be helping the casino take the necessary steps to ensure they don’t exploit their customers in any way. What’s more, NASSNIG legal service will also review the casino’s games and software to ensure that they aren’t committing any legal violations. 

We Will Examine Legal Issues Related to Their New Casino Games

NASSNIG legal service will also be examining any legal issues related to their new casino games. This mainly involves examining if the casino games they add to their platform have any problems that could land them in legal trouble. 

We Will Be Representing Fair Go Australia in Any Legal Proceedings

There are many legal cases a casino may likely get involved in. And a good number of these cases may be gamblers filing a lawsuit against the casino. However, a casino could be involved in legal cases with its casino game providers and even its gambling license agency. 

NASSNIG legal service will be helping FairGo casino Australia or rather represent it during legal proceedings if one arises. This involves gathering the necessary legal documents for the court proceedings. It also involves gathering evidence to present in court during the proceedings. 

Apart from helping Fair Go in the above areas, NASSNIG legal service will also be partnering with this casino to inform or rather educate gamblers on why it is essential to gamble in a licensed online casino. 

Gambling in a licensed casino like FairGo casino comes with many advantages, according to NASSNIG legal service. For starters, gamblers can be assured that the confidential information they share on the online casino platform, such as bank account details, is secure. 

One of the requirements by gambling license agencies is that a casino should prove that the platform has safety protocols that will protect its customers’ confidential information. 

NASSNIG legal service also points out that gambling in a licensed online casino assures individuals that they will get their payouts without any delays or difficulties. What’s more, a license guarantees that the casino’s software that determines the game’s winnings is fair. 

Playing in a licensed online casino also guarantees gamblers that if they experience any issues with the casino, they can report to the relevant gambling license agency. 

NASSNIG legal service, together with FairGo Casino, will also be educating gamblers on the platform about how to determine whether a particular online casino is licensed. 

One sure way to determine whether a casino is licensed is to check if the casino has displayed its license details on its websites. Typically, licensed casinos display their license details on their “Home” or “About Us” pages on their platforms. 

NASSNIG legal service also points out that a licensed casino has several safety features on its website to protect its gamblers’ confidential information. Some of these safety protocols include two-factor authentication protection and Secure Sockets Layer (SSL) encryption. 

According to NASSNIG legal service, another way to determine whether a casino is licensed is to test its withdrawal procedure. Another requirement by gambling license agencies before issuing a casino with a license is that they should have proof that their withdrawal process is seamless. So, a licensed Australian online casino should enable gamblers to withdraw their winnings without any difficulties. 

Another excellent way to determine if a casino is licensed and legitimate is by testing its customer service. 

Some gambling license authorities will require online casinos to have high-quality and fully functioning customer service to qualify for a license. 

High-quality customer service means the casino’s customer support team is always available to answer the gamblers’ queries and complaints about that particular platform. It also means that the casino’s customer service communication channels are functioning perfectly. 

According to NASSNIG, it’s also advisable for gamblers to read through customer reviews to know whether or not a particular online casino in Australia is legitimate. There are also reputable websites that provide unbiased reviews on various casinos. These reviews can help individuals know which casinos are legitimate. 

Final Word

Apart from helping FairGo casino with legal matters, the goal of NASSNIG legal service, together with Fair Go, is to help gamblers find the best and safest platform to gamble. We also aim to help gambling enthusiasts know everything concerning gambling licenses, how important it is to gamble on licensed online casinos, and how to identify legitimate Aussie gambling sites. 

The post FairGo Casino Australia Will Work with NASSNIG LEGAL SERVICE appeared first on Nassnig Legal Service.

To answer your question, yes, you can trade CFDs in Australia without being arrested. In fact, it is highly regulated by the Australian Securities and Investment Commission (ASIC). So, you can go ahead and learn to trade CFDs and start profiting.

In this article, we’ll help you to know everything about trading on CFDs, including choosing the best platform, the legal requirements, and much more.

CFDs in a Nutshell

Simply put, contracts for difference, popularly known as CFD, is a type of investment where you bet on the fluctuation of prices in different assets, like forex and shares. With CFDs, you profit when the value of the selected asset shifts in the direction of the contract.

The options available when you initiate a trade are long and short-term. The long option has the potential to increase in value, while the short option means there will be a decrease in value. The widely practiced trading CFDs in Australia is currencies. Also, people trade different commodities, including crude oil, gas, and iron ore.

CFDs work in a pretty easy-to-comprehend way. The contract is made between the trader and the broker, and it includes the price direction, stake, and the time it will take. The unique thing is that a trader profits whether the price of the traded asset rises or drops.

Understanding Leverage and Margin in CFD Trading

One vital element you must understand before venturing into CFD trading is leverage. Leverage is the manner in which a broker multiplies the set bet amount. CFD brokers use leverage to underwrite bigger trades than what traders can raise with their cash. Note that the leverage can escalate losses in the same way it can enhance your profits.

Another important thing in CFD trading is the margin. The latter is a percentage a trader needs to invest to initiate a trade. So, margin acts like the deposit you must make to trade. Do understand that traders cannot transact more than their margin amount.

Types of CFDs in Australia

Before you open a CFD account, it is essential to know the different types of CFDs in the Australian market. These are the three main types of CFDs:

Direct Market Access – DMA: This type includes electronic facilities that allow investors to enjoy liquidity. The investors, in this case, include banks and big brokers. The good thing about this CFD is that you are the sole decision-maker.

• Market Maker CFD: A market maker is a company responsible for its own market and decides the price for a given asset that you can trade a CFD.  The high liquidity is what attracts many traders to this CFD.
• Exchange-Traded: The exchange-traded model allows you to trade all CFDs on the ASX. However, this can only be done through an authorized dealer or broker. The advantage of this CFD is the counterparty is reduced.

Pros and Cons of Trading CFDs

Pros

• Great opportunities for making huge profits.
• Traders are protected against potential loss.
• There is vast market access.
• No expiry date for CFDs.
• Traders enjoy profit from their losses.

Cons

• Relatively complex for newbies to understand.
• Price fluctuations can lead to big possible losses.

Choosing a CFD Broker in Australia

There are several aspects to consider when it comes to picking a CFD platform in Australia. Here are some questions you must answer before choosing a broker:

• The regulating authority – does the CFD broker have an ASIC license?
• Tax – what tax is paid on CFD trading?
• Platforms – what platforms does the broker support?
• Registration – what documents are required to open the CFD account?
• Payments – what transaction methods and currencies are supported?
• Assets – what tradable assets does the CFD broker support?

Choosing a legal and trusted broker in Australia can be difficult. Use trustworthy resources such as https://getfirststep.com/ to choose the best CFD broker.

The Bottom Line

As you can see, CFD trading is a legal business with the potential for making big profits. If you are a beginner, take time to research and learn before trading. You can use demo accounts to familiarize yourself with the platform features before advancing to trading with real money.

The post Is it Legal to Trade CFD in Australia? appeared first on Nassnig Legal Service.

Since cryptocurrency investments are becoming more popular around the world, it’s important to know how they work and if there are any potential issues with them before making a decision on whether or not to invest your hard-earned cash into something new like cryptocurrency. This post will discuss some of these potential legal issues as well as how an attorney can help mitigate those issues. A FinTech or cryptocurrency lawyer can help you navigate through the legalities of investing in cryptocurrencies and other forms of digital currency.

Who Is Fintech or Crypto Lawyer?

A Fintech, which is short for financial technology, law expert provides assistance to companies that are using new technologies to change how they handle their finances. Cryptocurrency laws vary from state-to-state as well as country-to-country so it’s important to do your research before making any investments into this form of money exchange.

First off, there are several different types of cryptocurrencies out there on the market right now including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) just to name a few; however, all these various kinds have varying legality issues depending on where you reside. For example, in the United States Bitcoin is legal but some states have been trying to pass bills that would make it illegal. Whereas in Japan, Bitcoin is considered a legal currency.

What Does Cryptocurrency Lawyer Do?

This discrepancy can cause a lot of headache for investors if they’re not aware of the laws and regulations surrounding cryptocurrency in their area. Because FinTech law is still new, there are few lawyers who specialize in this field meaning you may need to do some digging on your own before finding one that’s right for you. However, here are a few things you should take into account when looking for representation:

-The lawyer’s reputation

– Do they have experience with cryptocurrencies?

– Are they up-to-date on the latest FinTech news?

– How much do they charge?

-The lawyer’s location

– Will they be available to meet in person if needed?

Once you’ve found a Fintech or cryptocurrency lawyer that meets your needs, it’s important to establish an open and honest relationship with them. This way, if any legal issues should arise with your investments, you’ll feel comfortable enough approaching them for help. Some of the most common legal issues related to cryptocurrencies include:

-Unlawful seizure of assets

– Illegitimate investment schemes

– Fraudulent activity

By using a qualified Fintech law expert, you can greatly reduce your chances of being involved in any such disputes. They will be able to guide you through the entire process as well as represent you in any legal proceedings that may arise.

Investing in cryptocurrencies is becoming more and more popular each day; however, with this new wave of digital currency also comes a whole set of new legal issues. Don’t risk investing your money into something without knowing all the facts. Make sure to consult with a Fintech or cryptocurrency lawyer to get all the information you need before taking the plunge.

Even though crypto lawyer can help you with fraud, it could be challenging to protect you. It’s best to proceed with protective measures on your own:

First, it is important to know whether or not your cryptocurrency wallet is insured by the government. If there are funds missing due to fraud and you do not have an insurance policy in place, then things can get very complicated! Some services offer this type of protection while others don’t. So make sure that if you choose a particular service that it offers the type of coverage that you need.

Next, keep a close eye on your public ledger transactions. If someone gains access to your account and makes a transaction with another cryptocurrency wallet address, then they might be able to steal all of your funds! This is not always easy though, especially if you use third-party wallets or exchanges. To prevent this from happening in the future make sure that each time you log into an exchange platform, wallet server etc., it will require two-factor authentication before allowing any changes to take place. In addition, don’t store large amounts of money within these services because there have been many cases where hackers have hacked their way through them and stolen thousands upon thousands of dollars worth of cryptocurrencies without anyone noticing!

Finally, if you are dealing with a vendor that will not allow returns or exchanges on the products and services they offer, then this is another red flag. If something breaks after using it for just a short period of time and cannot be fixed-or there is no way to return the item in question for any reason –then move onto another service provider! These types of vendors typically scam their customers out of as much money as possible by selling them things like fake cryptocurrencies (which don’t even exist) or charging more than what an actual cryptocurrency would cost. So make sure that your next purchase does not end up being your last one because you got scammed into buying some type of non-existent currency!

The post Why You Need a Cryptocurrency Lawyer appeared first on Nassnig Legal Service.

Coverages that can be accessed by all members of the same group of a legal plan. The plan area always given to workers by their employers after then they choose to perform in the group plan or not. The following are some legal services benefits.

Reduce cost of legal services.

When you secure your business or other services to legal plans, some of your charges or financial stresses will be catered for making you pay a low price from the person who have not. You also enjoy some of the free services and benefits coming with it. Stresses of finances are so many, when a person sign for legal services they benefit of quality legal services and also affordable services to them.

Competition.

Competitions are all over once some is in a business, people with similar business plans or work tend to run out of customers. This is due to lack of market to the good yet the goods and services are produced by many people. When one has secured his or her business with legal plans, they are more likely to be in demand and be preferable than their competitors.

Keep documents correct and manageable.

Correct documents improve on confidence among his or her partners or shareholders, this is what every business holder want to have. By securing your business, legal services always ensure that all your documents are kept correct and easy to manage. When your work and documents are handled by someone who is specialised, it will keep your work free from unnecessary errors and makes you more confident in your work.

Risk free.

Everyone what’s to be free from business risks, they always make one to lose a lot in terms of capital and human resources. Legal services will help you secure your business and when risks occur, they will come in to help. Important business documents should be viewed with seriousness and a little mistake might cause some serious damage later in life. To avoid all these, giving a legal official to go through your work and documents, will help reduce and prevent all these risks before they happen.

Legal agreements.

Having legal arrangements and agreements help one to secure contracts among the workers, employers, partners and other organisations. Written documents can help in future reference, if need be, to avoid thefts and disputes at some point in the future. At some point in life, we encounter with such cases, where people after an agreement, they change their minds or even thieves who corn people with fake information and business partnerships. Legal services will realise all fake business and keep you safe from the illegal businesses.

Success oriented.

Success is what everyone wants or look forward to in a business. All business have goals and objectives at the end of it all. And for one to be successful, they need some trusted helpers who can assist in helping their business grow. Using a legal business laws help reach their goals. Legal services will help your businesses to be successful. They will make sure your documents are correct and manageable making it easy to run your business with ease and successfully.

Avoid stealing or copying of business ideas.

Business copying is all over, we have heard or witnessed such cases happen to or friends, relatives or even some of us have been a victim of it. Where you write your business idea and then someone comes and copy it pretending to be theirs. Through this process one business are secured by many identities after they register them, this will prevent others from stealing or copying your business ideas and in any case, they do so it will help to trace them and be accountable of it.

Act as a guide to business holders.

Guides are some of the instructions or ways to follow in a business, they help you to choose a right path. To those whose to start a business, they always consult with the legal services on financial requirements and a good business to start and the amount it might need to start it. They help your business to look more appealing to your investors. You will have all the financial documents required and approved by the authorities making all the process legal.

Help in time of transitions

Business is faced with many challenges, at some point it becomes so difficult to solve the problem and so partners might wish to quit or just end the business at all. When business partners decide to end the business or when some unavoidable circumstance like dead occur, the need of transition come in. With legal service, it will help in a peaceful and truthful end.

Proper updates.

Updates are very important in businesses, it helps employers to get way forward before things get worse in the future. It gives you a business progress information whether negative or positive. Legal services will keep you updated on some changes that occur in the business that might affect the company or business. They will always note the progress of the business and advice where possible. For example, when a company is losing more clients or potential partners, it will let the officials know. When it is running more loses than profits it will always keep the updates.

Gives taxes and contracts.

Every business covered under legal services has to pay taxes. This helps in building a nation of that country. This happens when the authorities like lawyers help you to run your businesses throughout by letting you know the risks that might affect your business. Since contracts and taxes are part and percale of businesses, it helps in revealing these to avoid fee penalties at the end.

Generally, legal services have more benefits and of good use to all business or those in business. Following a legal way of doing things according to the law will help people overcome a lot of unnecessary problems.

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The Marriage Act 1990 and other legislation which will be outlined below, gives a wife married under the statutory law the rights to acquire, hold or dispose of and have shares in a family property in the event of divorce.

There are several laws and judicial precedents that support and guarantee the right of a legal wife to acquire family properties and inheritance in the event of a divorce in Nigeria. The major laws that protect the right of women to own properties in Nigeria are the 1999 Constitution of Nigeria (as amended), which abolished any form of discrimination against women and the Matrimonial Causes Act, which mandates the settlement of property in favour of women in deserving circumstances

In determining the rights of a legal wife in divorce proceedings, the court treats family properties owned by spouses as separate and it adopts a strict approach in determining the proprietary rights of a wife. The court has the power to order the settlement of property for the benefit of parties to the divorce or children of the marriage using the equitable approach to ensure that the property is shared equitably and fairly. As by Section 25 of the Matrimonial Causes Act, on the application of the Respondent made in course of divorce proceedings, the court may if it considers it just and proper in the circumstances of the case, makes provisions for the maintenance or benefit of the respondent.

Section 72 of the Act goes further to provide that “the court in divorce proceedings may require parties to the marriage, or either of them to make for the benefit of all or any of the parties and the children to the marriage, such a settlement of property to which the parties are, or either of them is entitled (whether in possession or reversion) as the court may consider just and equitable in the circumstances of the case”.

In exercising its powers, the court may order that any necessary deed or instrument be executed and that the documents of title be produced or such other thing be done as necessary to enable an order to be carried out effectively or provide security for the performance of the order.

In the settlement of property during divorce proceedings, the financial contribution of the parties to the property is often the approach adopted by the court to determine the extent of rights to be granted in favour of the wife. The Nigerian courts often rely on documentary evidence as proof of the existence of joint ownership of property or financial contribution towards the acquisition of the property or development of the property before the claims to the right of property can succeed, especially where the legal title to the property is in the name of the husband.

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The Nigeria Electricity Regulatory Commission (NERC) is an independent regulatory body with the authority to supervise Nigeria’s electricity industry

The main purpose of establishing NERC is to supervise the electricity prices of government-owned or controlled power generation companies and any other power generation companies that have power generation, transmission, and power distribution licenses.

THE IMPORTATION OF ELECTRIC POWER GENERATOR

Every individual seeking to import an electric power generator must obtain a clearance certificate for the importation and follow the guidelines as prescribed by NERC.

The NERC is empowered by Section 32(1)(e), 96(1) & (2)(q) of the Electric Power Reform Act, 2005 to make guidelines for the importation of power generators into Nigeria.

GUIDELINES FOR IMPORTATION OF GENERATORS INTO NIGERIA

The following are the steps to be followed for the importation of generating sets into Nigeria following the NERC guidelines:

An application for the Clearance Certificate must be made in writing in a manner specified and addressed to the NERC. The application could be delivered by hand, sent by mail or through a courier service.
The application shall be signed and dated by the Applicant or his/her authorized agent.
The Application shall contain the following information:

• Name of Applicant & Quantity to be imported
• Noise level (not more than 35Db) & Pollution control
• Make of generators & Technical and Environmental rating
• Purpose of importation, Country of origin & Capacity of the generator

The application shall be accompanied by the following:

• Copy of the Certificate of Incorporation & Tax Clearance certificate for the last three years
• VAT registration Certificate & Commercial Invoice/Proforma invoice
• Standards Organization of Nigeria Conformity Assessment Programme (SONCAP) & Proof of conformity with extant environmental regulations (emissions, noise etc)

The guidelines as provided for by the NERC must be strictly followed by any individual wishing to import generating sets into Nigeria. Failure to adhere to the strict guidelines would have legal consequences. It must be noted that there is currently a pending bill to completely ban the importation of generating sets in Nigeria before the National Assembly, which has passed the first reading.

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A private placement is a method of offering shares by a public company that is not quoted on the stock exchange or by a private company. As the name implies, a private placement is a special kind of offer whereby the securities of a company are sold to a specific or pre-arranged buyer(s).

The company involved here could be private or public while the security may be debt or equity. It is worthy of note, however, that private placements by private companies are not under the regulatory purview of the Securities and Exchange Commission, which is the principal regulatory body tasked with the administration and regulation of company securities in Nigeria.

Rule 339 of the Securities and Exchange Rules, defines Private placement to mean the issue of securities by a public company to select persons. Rule 340 subsequently provides for the conditions a public company must fulfill for the approval of the offer by the SEC. it states that;

• No public company shall offer securities by way of private placement without the prior approval of the Commission.
• Private placement by public companies shall be subject to the following conditions:-
• The company shall show evidence of the dire need for fresh funds or technical expertise and shall satisfy the Commission that private placement remains the only viable option to achieving its objective.
• The securities shall not be offered to more than 50 subscribers.
• The resolution of the company authorizing the placement shall be Special as defined in the Companies and Allied Matters Act and shall state the number of shares to be offered and the price.
• The notice of the general meeting authorizing the placement shall be published in two national daily newspapers and evidence of the publications shall be filed with the Commission.
• The aggregate number of shares to be offered through private placement by a public quoted company shall be 30% of its existing issued and paid-up capital prior to the offer:
• Provided that where the company is ailing, it may offer a higher number of shares, subject to the approval of the Commission.
• The price of the securities of the company, if quoted, shall be on technical suspension during the period of placement.
• The offer shall be for a period as proposed by the issuer and approved by the Commission but not exceeding ten (10) working days: Provided that the Commission may extend the period under special circumstances.
• All subsequent capital raising shall be approved only upon satisfactory account of utilization of previous issue proceeds.
• Private Placements shall not be advertised, mentioned and/or discussed in the print and electronic media. Approval of a private placement may be suspended or withdrawn for violation of this rule. Any Capital Market Operator engaged in an advisory role on the private placement may also be sanctioned.

The Securities and Exchange Commission’s involvement in Private Placement by Private Companies is limited except where the Private Company issues any form of application to be completed on deposit of money, then it will be deemed to be an invitation to the public to acquire shares or deposit money by Section 69 (3) the Investment and Securities Act. With regards to a private placement by private companies, SEC needs not to be informed unless the shares would eventually get into the hands of the public.

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