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We hereby take great pleasure in providing you with an outline of the range of services
TMF could provide your corporation in Israel and around the globe.
Our reputation for long-term relationships with clients is built on providing high quality services at a reasonable cost, close coordination and mutual cooperation. This  policy established us as preferred service provider of many global corporations from  which references could be provided upon request.  
All of us at TMF sincerely hope to establish business relationship with you and we 
appreciate any opportunity to discuss this Overview of Services in more detail with you at your earliest convenience.
Overview of Services 
We  believe  that  outsourcing  services  to TMF Group would  enable  you  to  focus  on  your 
core business operations while entrusting the administrative part of the business to a service 
provider who is able to meet your exact requirements.  
Domiciliary, Management & Corporate  Secretarial  Services  represent  services  connected 
with the administration of companies. Their content is carrying out all administrative duties 
for  the  company  as  prescribed by  local  legislation.  Fees  charged  for  providing  corporate 
secretarial  services  are  based  on  the  hours  worked  by  our  team  multiplied  by  the 
corresponding  hourly  rate.  In  the  framework  of  corporate  services,  TMF  can  offer 
assistance in the following: 
Provision of a Registered Address 
TMF  is  able  to  provide  its  clients with  a  registered  address  complete  with  high  quality 
office  space  and  business  premises  with  standard  features  and  fittings,  as  well  as 
furnishings  to meet  all  business  requirements.  In  addition  to  representative  surroundings, 
TMF offers clients a range of services to help them do business efficiently, from secretarial 
support  to  ICT  services.  TMF  can  also  act  as  a mailbox  of  the  company  and  diligently 
process  all  communications  delivered  to  the  registered  address.  Moreover,  TMF  can 
maintain accurate books and records available for inspection at any time.  
Company Incorporation & Acquisition 
TMF has established excellent contacts with  local professionals  involved  in  the phases of 
incorporation. These professionals include public notaries, tax and legal advisors,  to name 
only  a  few.  As  your  local  representative,  TMF  will  manage  and  co-ordinate  the 
organisation of complex corporate structures. TMF offers both the opportunity to purchase 
a ready-made company or to incorporate a new legal entity. 
Provision of our Managing Director/Supervisory Director or Attorney-in-Fact 
Many  clients  require more  than  a  registered  address. They  need  to  keep  pace with more 
complex  and  comprehensive  support  to  maintain  their  compliance.  As  a  Managing 
Director, TMF becomes (co-) responsible for the day-to-day management of the local client 
company  and  will  ensure  the  company's  good  standing  in  accordance  with  local 
requirements. Moreover, an independent Managing Director will provide more comfort by 
acting  as  second  signatory.  Depending  on  a  client’s  preference,  TMF  can  also  provide 
Supervisory Directors  or Attorneys-in-Fact.  If  required, TMF  has  a  network  of  seasoned 
professionals in different industries that can provide invaluable expertise. 
Meetings of the Company’s Authorities 
In accordance with  the demands resulting from  legislation and your  internal rules, we can 
call and organize General, Board of Directors, and Advisory Committee meetings, prepare 
all  necessary  documents  (e.g.  invitations  and  minutes  of  the  General  Meeting),  and 
complete all other related steps (e.g. we ensure the presence of a Notary or Extract from the 
List of Shareholders). 
Registration of Data and Any Changes 
Every  change  of  the  company’s  basic  data  (e.g.  change  of  executive  or  change  of  the 
business  name)  must  be  duly  documented  (e.g.  Commercial  Register  or  Financial 
Authority)  with  the  relevant  authorities.  TMF  prepares  all  necessary  documents  and 
satisfies all notification and registration duties, which in turn saves you time.   
Revision of Documents and Proceedings of the Company in Line with Local Rules 
Legalities prescribe the terms of the corporate documents (e.g. Incorporation Document or 
Memorandum  of  Association)  and  regulate  a  variety  of  corporate  administrative 
responsibilities  (e.g.  preparation,  approval,  certification  and  deposition  of  the  Annual Report).  
Their observance is subject to the control of administrative authorities and enforced by the 
threat  of  penalty.  TMF,  by  keeping  track  of  the  corporate  documents  of  your  company, 
helps you to uncover and remove their inadequacies, as well as shortcomings in the course 
of carrying out various required duties.                
Information about Legislative Changes 
In-depth knowledge  regarding current  laws and  timely notification of changes  in  the  laws 
ensures proper  and  appropriate  action  that needs  to be  taken. TMF will notify  you  about 
any changes in the legal requirements and legislation and provide details of how they apply 
to your corporation. 
TMF  is  fully  prepared  to  provide  statutory  bookkeeping  and  reporting  services  to  your 
corporation. Statutory bookkeeping services  include  the maintenance of  the client’s books 
and  records  in  accordance with  local  legislation  and  directives,  and  the  preparation  and 
filing of all required reports and specifications. 
Accounting-related functions performed by TMF: 
  Initial set-up of the accounting system 
  Filing of external and internal original documents 
  Processing the data into the system 
  Report preparation for statutory & management purposes 
  Acting as a second signature on payment instructions 
  Assisting during an audit 
Preparation of Financial Statements 
IFRS and US/UK GAAP Reporting  include  the preparation of a complete set of  financial 
statements  in  compliance  with  IFRS  or  US/UK  GAAP.  Specifically  it  entails  the 
identification and  introduction of  the necessary  adjustments  to  the  statutory  accounts,  the 
preparation  of  the  financial  statements  with  the  notes  thereto,  and  the  disclosure  of  the 
accounting policies applied. 
Consolidated Reporting Services 
TMF  is  specialised  in  consolidating  the  activities  of  all  of  a  client’s  companies  into  one 
report.  Each  local  TMF  office  prepares  the  statutory  accounts  and  the  necessary 
management  reports  in  the  local  language,  in  accordance  with  appropriate  legal 
requirements  and  regulations. Management  reports  are  then  consolidated  and  the  entire 
package,  consisting  of  local  statutory  accounts  and  internal  management  accounts  is 
presented to the responsible head office. 
All TMF offices are electronically interconnected and use the same accounting, spreadsheet 
and word-processing software, enabling its systems to operate in a highly efficient manner. 
As  a  result,  you  receive  an  easy-to-read,  consistent  report of  all  activities,  as well  as  the 
underlying local and international management reports, on a timely basis.  
Reconciliation of Data 
TMF will ensure that the differences between  the US/UK GAAP accounting and the local 
statutory books will be  reconciled at  least once per year. Differences will be classified  in 
“Permanent  Tax  Differences”,  e.g.  because  of  local  investment  incentive  programs,  and 
“Temporary Tax Differences”, e.g. because of different depreciation lengths. 
Specific Projects 
TMF can handle the set-up or re-organisation of accounting systems, including inflationary 
accounting  systems  and  techniques.  TMF  can  also  assist  in  implementing  software 
packages, establishing accounting control procedures, preparing the books of accounts and 
the  financial  statements  for  audit  purposes,  the  training  of  accountants  and  any  other 
services you may require from time to time. 
Tax-filing Services 
With  respect  to  our  tax-filing  services,  although  our Group  policy  does  not  allow  us  to 
provide  tax advice  (except  in certain  jurisdictions), we do provide  tax-filing  services  that 
include, amongst others, the filing of the Value Added Tax, Income Withholding Tax and 
Corporate  Income Tax  in accordance  to  local requirements  in cooperation with your  local 
tax advisor. 
TMF’s  payroll  services  for  small  entities  are  commonly  calculated  as  set-up  fee  per 
employee, exit fee per employee, monthly fixed fee per employee, year-end fee, and hourly 
Please note that there will be an initial one-time set-up fee charged to the client company in 
some  countries.  It  represents  a  formal  registration  of  your  company  with  the  relevant 
authorities  as  well  as  the  company’s  payroll  system  set-up.  The  monthly  fixed  fee  per 
employee includes payroll calculation, payslips preparation and obligatory payroll payment 
deductions to relevant authorities on a monthly basis. 
An hourly fee is charged for any ad hoc client’s requests or additional work, such as:  
  Handling queries of the employees 
  Meetings with the client or the employees 
  The assistance with hiring and firing  
  Working out labour contracts on a pre-agreed basis 
  Preparation of standard job descriptions 
  Preparation of a standard employee handbook 
  Executing salary payments, etc.  
Such work performed  is charged on  the basis of TMF hourly  fees  that vary depending on 
seniority of staff and jurisdiction involved.  
TMF is organized to accommodate complete payroll administration for its clients, whether 
they  have  1  or  10,000  employees.  Each  office  employs  highly  experienced  payroll 
administrators and uses carefully selected payroll software.  
Through our payroll services we ensure: 
  Strict  confidentiality  of  salary  information  by  applying  specific  systems  and procedures 
  Effective and efficient communications with the client  
  Flexible fee structures and salary administration costs Salary Calculations 
  Gross salary schema 
“Net to gross” salary schema 
  Foreign currency based salaries  
  Inflation adjusted salary schema 
Statutory Reporting & Compliance with Local Legislation 
  Payroll statements 
  Declarations required for the various social security funds 
  Filing of payroll statements and related declarations with the relevant authorities 
  Employee fiscal certificates 
  Preparation of additional acts for changes in salaries 
  Registration of employment contracts and additional required acts 
  Labour books administration 
Complete Management Reporting & Cost Analysis 
  Reports and analyses by departments, teams or other cost centres 
  Net – Gross – Total Salary Cost analysis 
  Comparative reports by cost centres and/or reporting periods (monthly or quarterly)  

Companies doing business within the European Union can face complex VAT requirements 
and  reporting obligations.   Add  in  language and cultural barriers, and obstacles can  seem 
insurmountable.   This can  leave businesses exposed  to cash  losses and burdensome  filing 
TMF  VAT  Services  can  help  ensure  your  business  stays  compliant  across  Europe,  and 
avoids cash  flow risks.   This service  is provided with a single point-of-contact service for 
the whole of Europe at no additional expense for TMF’s clients 
European VAT Compliance 
With over 35 offices  in Europe, TMF’s VAT professionals are expert in  the compliexities 
and variations in the VAT rules across all of the European countries.  This includes: 
•  When and how to register for VAT 
•  The variations in VAT invoicing rules 
•  How to complete VAT returns 
•  Payment rules and procedures for settling any VAT due 
•  Reclaiming VAT credits 
•  Deregistering for VAT 
•  Handling VAT audits by local tax authorities 
•  EC Sales Lists and Intrastat filings 
Fiscal Representation 
In many  situations,  both EU  and  non-EU  companies  operating  in Europe  are  required  to 
appoint a fiscal representative.  TMF VAT can serve in this role, and operates the market’s 
largest fiscal representative network. 
VAT Recovery 
Where  companies  have  suffered EU VAT, TMF  can  assist with  the  speedy  and  efficient 
reclaim of  this  tax.   Our VAT staff across Europe are  familar with all  the  local  rules and 
requirements, guaranteeing the quickest possible recovery. 
Contact Us To  learn  more,  see  our  VAT  website:  www.tmf-vat.com  or  send  an  e-mail  to enquiries@tmf-vat.com
TMF`s  Structured  Finance  Services  specialises  in  providing  and  administering  Special 
Purpose Vehicles (SPVs) for asset securitisation and other structured finance transactions. 
TMF has been active in the European securitisation market since the removal of many legal 
and  regulatory  constraints  on  the  use  of  financial  instruments.  TMF  Structured  Finance 
Services  has  been  involved  in  the  first  European  Collateral  Debt  Obligations  (CDO) 
transactions  in  1999  and  since  then  we  act  as  the  main  corporate  service  provider  for 
CDO/CLO transactions of Europe. Our years of experience and excellent relationships with 
local authorities and advisors enables us  to quickly establish fully  independent  third party 
structures,  which  allows  us  to  offer  clients  the  ability  to  determine  all  costs,  including 
corporate income-tax, fees, and disbursements, in advance. 
TMF’s  Structured  Finance  Services  (SFS)  has  been  involved  with  many  asset-backed 
transactions  (both  on-  and  off-balance  sheet).  These  include  the  securitisation  of 
receivables  generated  from  mortgages,  vehicle  leases,  purchase  and  lease  agreements, 
credit  cards,  bank  loans,  aircraft  and  aircraft  operating  leases,  office  equipment  leases, 
housing association rents, and trade receivables. 
We give  full attention  to all aspects of  transactions at  the  structuring and drafting  stages, 
and to the accounting and administrative requirements of SPVs. We review all transactions 
in advance,  in order  to establish a client’s  requirements,  the  lines of communication, and 
which  parties will  be  involved. Our  staff  has  an  in-depth  local  knowledge  and  thorough 
understanding of market  requirements, which allows us  to operate  flexibly and  rapidly  in 
meeting a client’s demands. 
SFS,  Europe’s  principal  supplier  of  independent  directors  and  corporate  services  for 
structured  finance  transactions,  is  located  in  those  countries  with  the  most  favourable 
jurisdictions for SPVs. 
Through our focus on close and long-term client relationships, we can offer reliability and 
consistency in our services throughout the entire life of the transaction. Due to this we have 
close working relationships with leading international banks, originators, law firms, rating 
agencies, auditors and investment managers. 
Please  note  that  we  provide  SFS  services  from  the  TMF  offices  in  Amsterdam, 
Luxembourg,  Milan,  Frankfurt,  London,  Dublin,  and  Brussels.  We  are  also  currently 
working on a few transactions in Poland. Be advised that in general we could provide SPV 
services in all countries where TMF has offices. 
TMF’s  Fund  Services Division  administers  and/or  keeps  the  share  register  for  over  150 
investment funds and other entities with combined net assets of approximately USD 4.5 bil. 
Amongst  these  investment  funds  are  funds  listed  on  the  Dublin  and  Amsterdam  stock 
exchanges. The investment funds have their legal seat in BVI, Cayman Islands, Netherlands 
Antilles or in the Netherlands.  
TMF Fund Services B.V. (through its 100% subsidiary TMF Fund Administrators B.V.) in 
the Netherlands provides the following services: 
Domiciliary & Corporate Management Services 
-  Provision of all services that allow an investment fund to start operations in compliance with the local regulations 
-  Assistance  in designing  alternative  structures,  reviewing corporate documentation and agreements 
-  Provision registered office, corporate directors and officers 
Fund Accounting and Valuation Services 
-  Preparing  books  of  account,  by  compiling  accounting  records  from  independent sources,  reconciling account statements and balances, pricing  the portfolio, calculating income  and  expense  accruals  and  fees  and  calculating  the  Net  Asset  Value  with reference to share movements 
-  Preparing  monthly  financial  statements  tailored  to  client  requirements,  including statements of assets and liabilities, operations and changes in net assets 
-  Correspondence with custodians and agents 
-  Computation of fees and retrocession 
Shareholder Services 
-  Full  registrar  and  transfer  agency  services  consisting  of  shareholder  record  keeping, compliance with  local due diligence  requirements, preparation of  trade confirmations, effecting shareholder payments and issuance of statement of holdings 
-  Multi-lingual shareholder services desk available for shareholder/prospect queries.  
Since  its  inception,  TMF  has  mainly  rendered  management,  corporate  secretarial  and 
domiciliary  services  to  holding,  finance  and  royalty  companies,  and  investment  funds, 
together  with  comprehensive  administrative  and  accounting  services  to  internationally 
operating organisations. However, in the course of time TMF has extended the scope of its 
services substantially.  
In  the  role  of Managing  Director  or  Administrative Manager  TMF  aims  for  long-term 
relationships with its clients. In this framework TMF has determined that its objective is to 
ensure the highest quality and control standards at a competitive fee level. 
Among  its clients TMF  is proud  to  include  listed multinationals,  insurance and real estate 
companies,  banks,  pension  funds  and  other  institutional  investors  as well  as well-known 
private companies and high net worth individuals. 
TMF’s Unrivalled and Expanding Network 
TMF’s  greatest  penetration  at  this  time  is  in  Europe,  mainly  because  this  is  where  the 
company was founded (the Netherlands) 20 years ago.  
Because many of our  international clients  are demanding our  services outside of Europe, 
we  have  already  accommodated  their  requests  by  establishing  offices  in China  (Beijing, 
Hong Kong, and Shanghai),  Israel  (Tel Aviv), Russia  (Moscow), South America  (Buenos 
Aires), the United States (Los Angeles, Miami, New York) and UAE (Dubai). 
At  the moment  the  tally  stands at 84 offices  in 65 countries. With over 3,000 employees, 
our size, experience and international strength enable us to assemble professional teams of 
lawyers, accountants and financial experts. We aim  to add value at all stages of a project, 
from initiation to execution, as well as in after services care. 
Independence, Confidentiality & Security 
One of TMF’s  strong  suits  is our  independence  from  financial  institutions  such  as banks 
and the Big 4, an important consideration because it provides our clients the best solution to 
their needs of transparency, consistency, confidentiality, and reporting. 
Our  independence  from  the  Big  4  and  law  firms  enables  us  to  work  closely  with  any 
outside  party  of  your  choice.  As  a  further  benefit,  TMF  has  extensive  reporting  and 
corporate  governance  experience  for,  as  only  a  single  example,  certain US-based  or US-
exchange listed companies that now have increased reporting obligations under the recently 
enacted Sarbanes-Oxley Act legislation. 
Development of Fees  
TMF’s  fees depend on  the complexity of  the work  required by your organization. Based on 
our years of experience, it is very difficult to set a fixed fee at the beginning of any potential 
working  relationship without  having  first  discussed  your  objectives,  goals,  and  desired  end 
Each  client  is  unique  and  requires  an  individual  approach. Once  you  have  had  the  time  to 
review  the contents of  this Overview of Services and you have  formed a good  idea of how 
TMF can help, we suggest scheduling a meeting in order to: 
1.  Discuss in detail your exact needs and requirements,  
2.  Develop a detailed Scope of Work, 
3.  Develop a customized fee quote. 
 The Team 
In  every TMF  office,  a  dedicated  team  consisting  of  qualified  professionals  organised  in 
multi-lingual  teams  with  broad  expertise  and  a  pro-active  professional  orientation  will 
render  services.  Each  dedicated  team  will  have  a  supervising  manager  who  will  be 
ultimately  responsible  for  quality  control.  Please  be  informed  that  our  systems  are 
constantly monitored for a client’s safety and confidentiality. 
Regarding the appointment of a single point of contact and communication,  the Corporate 
Account  Manager,  located  in  the  country  of  your  choice  and  convenience,  would  be 
responsible  for  the  day-to-day  activities  throughout  all  the  countries  where  your  firm 
requires TMF’s services. 
Although  this  TMF  person  is  another  addition  to  a  client’s monthly  invoice  at  between 
EUR 65-300 per hour (depending upon seniority), the trade-off is that you will be required 
to  do  far  less  coordination with  all  the TMF  offices.  Plus  you  could  be  provided with  a 
single, end-of-the-month activity report for all offices. 
 ICT Environment 
While  TMF  allocates  substantial  budgets  to  upgrading  and  maintaining  its  ICT 
environment,  investing  in  ICT  does  not  end  with  acquiring  and  applying  cutting-edge 
hardware  and  software.  Our  VPN  network  ensures  that  your  confidential  information 
remains confidential because it remains only within our secure network. Standardization of 
our software and hardware enables us  to work effectively and efficiently within  the entire 
TMF network. 
TMF's  ICT department employs a  team of highly skilled  ICT professionals who maintain 
the VPN system. TMF's security policies define strict guidelines and procedures, which are 
monitored  by  frequent  security  checks  and  audits.  Strict  standards  for  the  storage  and 
management of records – including images of scanned paper, electronic documents, email, 
and more are required for TMF's internal ICT systems in order to provide the security and 
confidentiality  that  both  our  clients'  and  our  own  data  demand. While  we  continuously 
develop  and  improve  our  systems,  TMF  will  never  compromise  the  security  and 
confidentiality of the information entrusted to us.  
 8.  TMF`s OFFICES  
Austria – Vienna           Belgium – Brussels 
Bulgaria – Sofia           Croatia – Zagreb  
Czech Republic – Prague         Denmark – Copenhagen  
Egypt – Cairo           Finland – Helsinki      
France – Paris          Germany – Frankfurt  
Hungary – Budapest           Ireland – Dublin     
Israel – Tel Aviv          Italy – Milan, Rome 
Jersey - Saint Helier          Kazakhstan -   Almaty 
Luxembourg – Luxembourg       Malta – Malta    
Netherlands – Amsterdam, Rotterdam    Norway – Oslo     
Poland -Warsaw, Katowice        Romania – Bucharest    
Russia – Moscow          Serbia – Belgrade     
Slovakia – Bratislava         Slovenia – Ljubljana     
South Africa – Cape Town, Johannesburg    Spain – Barcelona, Madrid 
Switzerland – Geneva, Brunnen      Sweden – Stockholm   
Turkey – Istanbul          UAE – Dubai        
U.K. – London, Brighton, Luton      Ukraine – Kiev      
Possible Openings: 
Cyprus – Nicosia, Estonia, Latvia, Lithuania, Russia – St. Petersburg 
TMF also offers services through our network of affiliates in many locations not listed above.  
Australia – Sydney, Melbourne    China – Beijing, Shanghai 
Hong Kong                        India – Mumbai, New Delhi  
Japan – Tokyo         Malaysia – Kuala Lumpur, Penang 
Singapore          Taiwan – Taipei       
Thailand – Bangkok        Vietnam - Ho chi Minh, Hanoi 
 Possible Openings:  
Indonesia, Korea, New Zealand, Philippines 
 TMF also offers services through our network of affiliates in many locations not listed above 
Argentina – Buenos Aires, Cordoba   Bolivia – La Paz  
Brazil – Sao Paolo, Rio de Janeiro    British Virgin Islands – Tortola     
Colombia – Bogota        Costa Rica – San Jose   
Chile – Santiago         Dominican Republic – Santo Domingo 
Ecuador – Quito        El Salvador – San Salvador   
Guatemala – Guatemala      Honduras – Tegucigalpa 
Jamaica – Kingston        Mexico – Mexico City, Monterey 
Netherlands Antilles – Curacao     Nicaragua – Managua     
Panama – Panama City      Paraguay – Asuncion      
Peru – Lima          Uruguay – Montevideo      
USA – Los Angeles, New York, Miami  Venezuela – Caracas         
TMF also offers services through our network of affiliates in many locations not listed above 
Know Your Client (“KYC”) Policy 
This request is a part of our standard acceptance process regarding every new client. Based 
on EU legislation, TMF  is considered a financial services provider and has to identify not 
only its clients, but also the ultimate beneficial owners (“UBO”). It ensues namely from the 
3rd EU Directive 2005/60/EC. Based on these regulations and the local AML laws TMF has 
adopted its internal “KYC” compliance procedure, which is applicable in all our offices.  
For compliance purposes,  the Client agrees  to provide TMF with all  relevant  information 
on  the nature of their business and  the business of the Client Local Entities, the origins of 
the  funds used within  the corporate  structure of which  they are part, as well as any other 
information, in particular on the ultimate beneficial owner, TMF may be required to obtain 
under  any  legislation  regulating  its  business  in  all  jurisdictions where  it  has  a  presence. 
Furthermore we  ask  the Client  to  inform TMF  about  any  changes  in  shareholder  and/or 
Beneficial Ownership  spontaneously and  immediately after  it occurred. The client and  its 
UBO’s  agree  that  this  information/documentation  will  be  transferred  to  our  Group 
Compliance Center in Switzerland. 
Be informed that we understand the UBO to be the ultimate individual holding shares of the 
ultimate parent company. Please provide us with the name(s) of these person(s) holding the 
shares of  the ultimate parent  company,  as well  as with  certified  copies of  their passports 
and  information on  their private  address. This  is not necessary  if  the UBO  is  listed on  a 
public stock exchange.  In such case, we  then need  to know on which stock exchange  it  is 
listed.  It will  suffice  if  this  information  is  readily  available  from  the  company’s website 
and/or annual accounts. 
We would appreciate if you could provide us with the information/documents below listed: 
-  Copy of a recent Trade Register Excerpt and copies of the Articles of Association from
    the local company to whom we shall provide services; 
-  Copy passport of the directors of the local company; 
-  Fill and return the attached TMF Questionnaire;  
-  In case  the ultimate parent company  is not  listed on a  stock  exchange, we  shall need legalized copies of the passport(s) of its ultimate beneficial owner (s) and specification of  their  ownership  interest  in  the  ultimate  parent  company.  (The  structure  chart including  the subsidiaries and  including  the UBO with  their percentages of ownership would be a great help.) 
-  Who will be our point of contact for tax, audit, legal and accounting issues?  
We  are  aware  this  information  is  very  sensitive  and  we  therefore  treat  it  as  highly confidential.    
 10.  OTHER 
Confidentiality and Independence 
Every  employee  of  TMF  is  committed  to  maintaining  the  confidentiality  of  client information.  All  of  our  client  records  are  handled,  maintained  and  stored  in  a  secure manner  in accordance with  internal policies, and are protected by physical, organisational and technical means. 
This  Overview  of  Services  is  provided  solely  to  assist  your  company  in  its  decision  to 
outsource part of  your  administration  to our Group.  It may not be provided,  in whole or 
part, or information contained herein disclosed, to other parties or non-company personnel, 
without our prior written approval. 
TMF  is  a  fully  independent  organisation  with  the  advantage  of  being  flexible  to  work together with every professional party of  the client’s choice. This offers  the possibility  to spread out financial services in order to avoid conflicts of interest. 
Please note that the following services are expressly excluded: 
Audit     Tax Advice 
Legal Advice           
Our  clients  normally  consult  with  their  auditors,  tax  advisors  and  lawyers  in  situations 
where such issues arise. In rare instances we will use our contacts to provide such advice, 
the cost of which is recharged to the client. Also, we prefer a conservative approach to the 
treatment  of  controversial  items  that  occasionally  arise  in  the  course  of  our  client’s 
Where we become  aware of  such  an area, we will ask  the client  for a written opinion  to 
support  the  special  treatment,  or  inform  the  client  that  their  proposed  treatment  may 
contravene  the  law,  etc. Depending  on  the  specific  situation, we will  act  on  the  client’s 
behalf without  such  advice.  In  this  case, we  cannot,  and do not,  accept  risk  arising  from 
such actions. 
Acceptance is subject to approval by our Compliance Officer. 
Contact Details 
Yoram Yehuda                Liat Shibolet 
Managing Director          Managing Director 
TMF Management          Vered Shibolet Consulting Ltd.  
and Accounting Services (Israel) Ltd.    A TMF Group Company 
7 Rival Street            7 Rival Street   
Tel Aviv 67778          Tel Aviv 67778 
Israel                           Israel 
T: +972(0)3 687 07 01        T: +972 (0)3 688 87 44 
F: +972(0)3 639 92 31        F: +972 (0)3 688 52 84 
E: yoram.yehuda@tmf-group.com       E: liats@vsh.co.il   
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