Law Firm Application and Benefits Brochure

Transcription

1 ADF BROCHURE 2013 Law Firm Application and Benefits Brochure The ADF - maintaining and enhancing professional standards within the legal profession Table of Contents Background to the ADF... 1 Which law firms qualify for ADF support?... 2 Where does the ADF source its office furniture and equipment?... 2 What office equipment is provided?... 3 What equipment, products and services will the law firm receive?... 3 What is the repayment period?... 3 How often are applications assessed by the Board?... 3 How does the application process work?... 3 What are the application criteria?... 4 Interested applicants... 5 Contacting the ADF... 5 Loan Application Form... 6 Background to the ADF The Attorneys Development Fund (ADF) was established in 2011 as a joint venture between the Attorneys Fidelity Fund, the Law Society of South Africa (LSSA) and its six constituent members of. These constituents are (in alphabetical order): Black Lawyers Association; Cape Law Society; KwaZulu-Natal Law Society; Law Society of the Free State Law Society of the Northern Provinces; and National Association of Democratic Lawyers. The ADF is an independent Section 21 company (association not for gain) and was set up with R30 million seed contributions from the Attorneys Fidelity Fund and the provincial law societies. A board of directors governs the ADF which is made up of representatives from the above organisations. Page 1 of 8

2 What is the focus of the Attorneys Development Fund (ADF)? The main focus at the initial phase is to provide office resources (as defined on page 3) to deserving law firms or proposed new firms (mainly sole practitioners) by purchasing these resources on behalf of the law firms. The law firms then repay the ADF for these resources over a prescribed period. A key element in the ADF programme is that any attorney who receives support also receives strategic, business mentorship and technical support to assist the firm to grow into a sustainable practice. Attorneys are linked to mentors and skills training initiatives with the assistance from the Practice Development section (under the Legal Education and Development division of the LSSA). Steps in process after the application has been approved Step 3: ADF provides mentorship programme to firm Law firm ADF Step 4: Law firm pays ADF for resources received in terms of the loan agreement. Step 2: Supplier delivers products to law firm Step 1: ADF pays supplier for office resources Supplier of office equipment Which law firms qualify for ADF support? The needs of each law firm are assessed by the ADF individually. Qualifying law firms are generally sole practitioners and examples of deserving law firms can include: i. Newly established law firms. ii. An attorney who is with an existing law firm but wishes to establish his/her own law firm. iii. Law firms who specialise or who intend to specialise in a specific legal field. iv. Law firms in areas (usually rural) where there is a shortage of attorneys. Where does the ADF source its office furniture and equipment? The ADF has sourced various reputable suppliers to provide the equipment. As the ADF pays these suppliers directly for the required equipment, law firms do not receive cash, but receive the equipment or other products. Page 2 of 8

3 What office equipment is provided? The equipment provided depends on the needs of the law firm. Below is the list of equipment currently offered by the ADF to law firms. Offices Resources A computer or a laptop 3G data card (or Telkom ADSL) Accounting software Four in one printer, copier, fax and scanner 2 desks and 6 chairs Telkom line Dependent on evaluation and approval by the Board, the maximum amount that may be approved by the ADF for the following resources is currently R (VAT included) Additional benefits For successful applications, the ADF will purchase four law books, including a book on the attorney s area of specialisation. The four books will be given to the applicant as a non-repayable grant. What equipment, products and services will the law firm receive? The equipment to be received will depend on the law firm s needs and its ability to repay the amount in the prescribed period. What is the repayment period? The cost of the equipment, including interest** no interest is debited in the first 12 months. Interest to accrue only after twelve months. Repayments are made by the firm at regular intervals as agreed with the ADF and the ADF reserves ownership of equipment until the full amount is repaid in full by the law firm, the maximum period of repayments is three (3) years. ** The current interest rate charged by the ADF is the prime lending rate minus 3% and is calculated as is envisaged by Regulation 40(1) of the Regulations made in terms of the National Credit Act (i.e. interest will be calculated daily and will be added to the deferred amount monthly, at the end of the month). No interest is to be debited in the first 12 months. Interest to be debited (accrue) only after the first twelve months. How often are applications assessed by the Board? Law firms can submit their applications to the ADF at any time during the year. The applications are considered by the ADF on a quarterly basis. How does the application process work? Before any assistance is provided, the ADF s Applications Committee reviews and evaluates the law firm s application (see page 6-7). This assessment is performed as part of a due diligence exercise to ensure that the law firm has the potential to grow into a successful business and sustainable practice. Page 3 of 8

4 Successful application process Application ADF quartely application review The law firm's provincial law society provides confirmation on the of good standing status of the applicant Possible interview with law firm Approval and implementation Office equipment is delivered and business mentorship programmes start What are the application criteria? The application is made in the law firm s name. The criteria relate to the attorney (sole practitioner). The applicant must:- 1. an admitted attorney practicing or intending to practice 2. be without own funds / assets to finance the law firm s operational needs; 3. provide a business plan, marketing plan and cash flow statement; 4. have the capacity to i. become an efficient and proficient attorney; i. learn how to establish and run a successful business; ii. conduct a sustainable practice; 5. be willing to be mentored and trained further and monitored continuously; 6. recognise and accept his/her responsibility to repay the full amount; 7. be within acceptable margins as a business risk. If an applicant has a poor credit bureau record, this will negatively affect his/her chance of receiving the ADF support; 8. be in good standing with his/her statutory, provincial law society. 9. have registered for, or be exempted from, or have undertaken to enrol for the mandatory Practice Management Training. Note: i. The applicant must note that no direct cash requests will be considered, all payments will be made directly to an approved supplier. ii. The ADF reserves the right to request additional information and/or details about any information provided. ADF s Vision To maintain and enhance professional standards within the legal profession and advance the growth and sustainability of new law firms as business concerns and in doing so, promote and facilitate access to the profession and to justice. Page 4 of 8

5 Interested applicants Interested applicants should complete the application form below. They can also consult the ADF website on for further information. Contacting the ADF ADF website: Tel: ADF postal address Attorneys Development Fund C/O Law Society of South Africa (LSSA) P O Box Menlo Park Pretoria, 0102 Or Docex 82, Pretoria ADF physical address Attorneys Development Fund C/O Law Society of South Africa (LSSA) 304 Brooks Street Menlo Park Pretoria, 0181 Page 5 of 8

6 Postal address C/O Law Society of South Africa P O Box Menlo Park Pretoria, 0102 or Docex 82, Pretoria Physical address C/O Law Society of South Africa 304 Brooks Street Menlo Park Pretoria, 0181 LOAN APPLICATION FORM Instructions on how to type on this editable form (Please complete the form in pen if you prefer). i. Save the form on your computer and then type your details directly onto the form where you see. To select a specific, please click on it to look like this. ii. When you reach the end of the line, you can automatically carry on typing on the next line. iii. After completing the form, please save again and print. Sign the form where indicated and send to the ADF as per the address above. All dates must be in the format dd/mm/yyyy. Please note that it is important to complete the form in full and submit all attachments. 1. Law firm (sole practitioner) Name of firm. Date established Postal address Physical address 2. Attorney s details Surname and first names Residential address Code: Code: Sex: M F Code: Postal address (h) Code: Please attach copy of ID document 3. Marital Status (attach certified copy of marriage certificate if applicable) Single Married in out community of property Divorced Widowed 4. Monthly income What is your present monthly income? R (Attach payslip/affidavit). 5. Practical experience Date admitted as an attorney?. Please attach certified copy of your admission certificate. Are you in possession of a valid Attorneys Fidelity Fund certificate? Yes No If so, please attach a certified copy. If not, explain why not below. 6. Experience Are you an admitted conveyancer/notary? Yes No If Yes, attach certified copy of admission certificate Page 6 of 8

7 7. Nomination of mentor Nominate a practitioner who you would like to mentor you who will focus on managing your practice, bookkeeping and business planning. You may nominate more than one. Name of potential mentor Law firm Contact number Why have you chosen this legal practitioner to be your mentor? Have you made contact with the legal practitioner to discuss the possibility of your mentorship? Yes No 8. Brief history of where you have practised since you were admitted 9. General Any other information which may be relevant to the assessment of your application by the ADF 10. Judgements awarded against you No Yes (If yes, attach page providing details and arrangements made to settle the debt.) DOCUMENTS REQUIRED FOR ALL APPLICATIONS Attorney Certified copy of identity document (Question 2) Marriage certificates (where applicable) (Question 3) Certified copy of your law degree/s and of your subject outcomes Payslip/affidavit (Question 4) Certified copy of admission certificate (Question 5) Valid Attorneys Fidelity Fund certificate (Question 5) Certified copy of admission certificate to be a conveyancer/notary (if applicable) (Question 6) Certified copy of other business qualifications. For example: financial management, computer software; client relationship and marketing etc. Personal cash flow statement Firm (Sole Practitioner) Business and marketing plan to reflect a path for attainment of your objective. Illustrate your vision for your practice for the next five years, growth expected and need for infrastructural technology, resources and equipment. Cash flow statement (12 months). Asset and liability statement (Balance sheet) for previous financial year. Attorney s signature and declaration I hereby declare that I have read the material provided in respect of the Attorneys Development Fund. Applicants (attorney s) signature Date Page 7 of 8

8 Important Notes 1. The ADF can decline the application in its sole discretion. Its decision is final. 2. Any successful application will be subject to the terms and conditions set by the ADF in its agreement. 3. The maximum repayment period will be 3 years, with a repayment vacation for the first 12 months. 4. No interest is to be debited in the first 12 months. Interest to accrue only after twelve months. 5. Ownership of any physical item purchased on behalf of the applicant vests with the ADF until the amount has been repaid. 6. As per the requirements of the Consumer Protection Act of 2008, should you feel the need to lodge a complaint, kindly forward your complaint to: application@adf.za.net. 7. As at 2012 the registration with the National Credit Act is pending. Page 8 of 8