FAQ

2 May 2017

1.Who we are?

Prime Advisory Network is an international platform for professional accountants, lawyers and human resource consultants. The platform is designed to allow any professional firm all over the world to provide global assistance to its clients in different parts of the world through collaboration with other professionals in the network. The platform offers an International Secretariat and an International payment management system.

2. What requirements do I need to join the Network?

In order to join the Network, you must be a qualified chartered accountant, qualified attorney or the equivalent in your country of business. You must also have an Independent Professional firm.

3. What are the benefits of joining Prime Advisory Network?

By joining Prime Advisory Network, you will equip your firm with an efficient and comprehensive tool for internationalisation. You will have a global network of certified colleagues with whom you can relate and cooperate. The Network also has an International Secretariat that will help you make contact with your colleagues and provide assistance to your clients interested in starting up businesses abroad.

The network also provides an international payment management systems that deals with payments and receipts for the various currencies.

4. Will Prime Advisory Network send me new customers?

Prime Advisory Network does not have the task of sending clients to the professionals in the Network. This being an institutional support platform for all professionals, Prime Advisory Network plays the role of regulator of international cooperation and therefore it’s necessary that it remains independent.

However, the platform and the Secretariat are intended to facilitate cooperation, knowledge, communication, cultural and professional exchanges among member professionals. It is from these exchanges that professional collaboration and client acquisitions are normally initiated. Prime Advisory Network should be considered as a work tool available to each member professional. It is up to each member to have the ability to exploit it in a useful way for their business.

5. Is it necessary to understand English?

Knowledge of English is not a requirement for membership because the International Secretariat is on hand to act as a point of connection between the members for their communication. However, it is strongly recommended for a satisfactory participation in the life of the Network.

6. How can I get in touch with other professional members in the Network?

Within the platform there is a chat and all contacts of each professional member. The International Secretariat will help you to get to know your colleagues by organising appointments on Skype or by telephone. Another good way to get acquainted with your colleagues is by publishing business articles on any business opportunities or tax breaks in your country through the Prime Advisory Network Secretariat. It is therefore vital that the professional member firms keep update with the activities of the Network.

7. How does the clients’ global assistance work?

The professional member with a local client that requires professional services in another part of the world can use the platform by choosing a corresponding professional firm from list of members in the country of interest. The platform will display the fees they charge for their professional services and the areas of expertise. Once the member is happy with the terms and conditions of assistance they will then sign the contract with the customer through the Prime Advisory Network International secretariat.

The foreign corresponding member will have to share the progress in a special member area within the platform with the professional that brings the client. For example, the balance sheets, acts and documents of the final customer.

The International Secretariat will manage the revenues and payments from the final customer by sharing the fees amongst the various professionals participating in the client support and provision of professional services required to ensure good operation.

8. What is the Role of the International Secretariat?

The International Secretariat is one of the cornerstones of the good functioning Network.

The secretariat acts as a point of contact between the member professionals, handles client’s payments and offers translation services.

And also thanks to the International Secretariat there is a good and continuous professional relationship between colleagues from different countries and often of different cultures.

9. How do contracts with customers and professionals work?

All the professionals have a contract of collaboration with Prime Advisory Network Ltd of London. This contract allows them to access the portal, use its features and authorise Prime Advisory Network to propose final customers to the other professional members for their professional assistance on the terms and conditions decided by the professional firm on its own. When a foreign professional accepts the contract proposal for client assistance, the contractual proposal is then:

– processed on the basis of the historical fees published by the foreign professional who will provide the professional services.

– written between the final customer and Prime Advisory Network Ltd of London.

Therefore, the final contract is always between Prime Advisory Network Ltd of London and the final customer with the stipulation that the foreign Destination Professional will provide all the required professional services.

Under the contract between Prime Advisory Network Ltd of London and individual professionals:

– The Client is always the property of Professional firm of origin and may at any time close the relationship between the Client and Prime Advisory Network Ltd of London, or may at any time change the corresponding Foreign Member Professional

– Any adherent will always be free to: (a) accept or decline the assignments, leaving the network if he or she wishes at any time, except in cases where they still have active mandates with the Network. They will be able to cancel these mandates once a new professional has been appointed to take over the mandates (b) to modify its own tariffs on the platform at any time

Below is the hyperlink to our contracts:

Network Membership Agreement;

Final customer contract.

10. Can a professional office integrate Prime Advisory Network contracts with its own contracts with the customer?

Regardless of the fact that the service contract is signed between the customer and Prime Advisory Network Ltd of London, the members party to that contract may supplement the original contract with a contract directly concluded with the customer in accordance with the applicable local regulations in their country. However, such contracts directly concluded with the customer can never be in conflict with the general customer service agreement between the single customer and the Prime Advisory Network and must provide automatic resolution of any effect in case of termination of contracts directly between the customer and the Prime Advisory Network of London.

11. Who makes the invoices of the services?

The services are billed to the final customer by Prime Advisory Network Ltd of London. It also manages the collection of invoice payments. If there is need for additional services not provided in the original mandate with the Prime Advisory Network, these can be billed and collected directly by the professional affiliate on its own, without anything due to the Network.

Affiliated individuals, professional members will invoice Prime Advisory Network Ltd of London for their services and will receive payments monthly, quarterly, or yearly, depending on the amount of funds to be paid and the Network’s payments policy.

12. How does the distribution of commissions between adhering professional firms work?

The fees paid by final customers are divided between professional members based on standard job breakdown criteria and network management costs. In particular. It is determined that it is 100 as paid by the final customer, of this sum:

– 5% is absorbed by financial transaction costs (currency exchange and credit card and bank payment fees);

– 75% is paid to the foreign study providing assistance;

– 10% is paid to the home-based professional for direct home care provided to the customer who internationalizes;

– The remaining 10% is retained by the Network for platform operation.

13. How much does it cost to join the Network?

Membership has an annual operating fee ranging from country to country and in lots of cases it is lower than £10 per month. These fees ensure the smooth operation of the Platform and the International Secretariat services.

Below is a hyperlink to our fees:

Fees.

14. How do I pay my membership fee to the Network?

Payments can be made using a credit card, PayPal or Stripe. The annual payment plan will renew automatically each year until you cancel your subscription.

15. How do the final customers pay for the services?

Customers pay the services directly to the Prime Advisory Network by Credit Card or Paypal, following the submission of payment requests by the International Secretariat.

16. How do I delete my account and withdraw from the Network? What binds me?

You can withdraw directly and autonomously from the platform within minutes. However, it is necessary to close all the active mandates with customers followed on behalf of the Network. If the mandates with the clients were not closed previously, a 6 months notice is required, in order to allow us to find other professionals to assist the client.

17. What does the customer have to do if they want to close a mandate managed with the Prime Advisory Network?

The customer must request the closure of the mandate through their local professional, who will be able to proceed autonomously within minutes, after paying for the services received.

18. What kind of obligations will the foreign professional providing assistance to the client have with the Network?

The foreign professional has the obligation to provide the professional services that the customer has purchased through the Network in accordance with the best professional diligence and contractual conditions. The foreign professional has also obligation to operate in accordance with the client, the Network and the local Professional who introduced the client.

19. When do you receive payments from Prime Advisory Network?

Affiliated Individuals, professional members will bill Prime Advisory Network of London and receive payments monthly, quarterly, or yearly, depending on the amount of funds to be paid and the Network’s payment policy, below is the hyperlink to our payment policy.

Payment Policy.

20. How does the translation service work?

Translation of documents shared by colleagues on the portal can be requested directly to the International Secretariat, via email or telephone, which will then promptly make the quotation of the requested service.

21. How can I advertise on the Network?

Paid advertising services can be requested directly at the International Secretariat, via email or telephone, which will periodically make the listing based on the type of campaign.

22. How do I join the Network?

It is possible to join in just a few clicks through the link below.

Membership