What are our prices?
One of the main concerns that clients have about using lawyers is that they are perceived to be (and in some cases are) a very expensive service. Unlike other services, however, lawyers are often reluctant to provide a price for a job, quoting an hourly rate and expecting clients to keep their fingers crossed that the final bill won’t be too much of a shock for them.
Our commercial team take a rather different view and aim to be as transparent as possible about our charging and to provide our clients with options on how they are charged and when they pay for our charges.
How we charge you
Any of our clients can choose one of the three following options if they want us to work with them:
1, Time based charging
This is the “classic” method of charging for legal work and under this we will give you an hourly rate and a best estimate of the likely costs involved in the work we have to do for you. We will keep you up to date with costs as the mater progresses and agree with you whether it should be billed at intervals or only when it either completes or the deal is abandoned.
The advantage of this type of charging is that it can be more cost effective than the other methods presented below, particularly if you are able to deal with a great deal of the negotiation yourself and any other parties (other companies or other solicitors) involved are helpful and responsive. This advantage is that you do not have a fixed cost to work to and budget for.
2, Fixed costs
We can either fix a price for an entire job or for each element of it. Typically, we would agree a fee to review and prepare initial comments on a document, after which we may then agree a further fixed price or a time incurred basis for amending the document or negotiating with solicitors or other third parties depending on the outcome of the initial review.
The advantage of having a fixed cost is that you have certainty and you can budget accordingly but the disadvantage is that, if the matter concludes swiftly, you may pay more than you would have done had you chosen option one.
3, Retainer payments
We are happy to work on the basis of a retainer whereby you buy a certain number of hours of advice in advance. The advantage of this for you is that you have certainty of payments (you have a fixed monthly fee) and you know that you are buying each hour of time at a discount against our normal hourly charges.
The disadvantage is that unused hours do not roll over and so if you do not have a demand for the service, it may not prove to be cost effective.
Interested in obtaining a fee estimate or a fixed fee quote?
The either click here or call David Miller on 01332 226 466 or 07813 203 658.