Pricing and Billing Policy
The Law Office Billing Policy flows directly from the relationship our Law Office wants with its Clients (see “What we do”) and from our Law Office’s goals for its relationship with each Client (see “Delivering a broader perspective”).
The following are some of the general principles that make up the Law Office Billing Policy:
- No Client will be asked to pay any fee that does not fit the Client’s budget.
- No Client will be asked to pay any fee that does not fit the Client’s sense of the value of the services provided by the Law Office.
- No Client will receive a final invoice until the Client has received a draft of the invoice or has been informed by an email and has approved it.
- The Law Office does not bill based on time.
- The Law Office does not bill for routine and non-substantial disbursements.
- The form of the Law Office’s bills are general narratives of the work done during the given time period.
- The Law Office asks each Client to pay the finalized invoice within 5 days of receipt.
It’s on the Law Office’ s sole discretion to provide the Client with any legal or administrative service if there is any outstanding, unpaid invoice about the case in question.
- For non-retainer billing relationships, there is a sole type of billing method the Law Office follows:
The project fee. For a number of engagements or matters, including litigation, the Law Office is able to evaluate the effort needed and the value of what is being asked to be done and can give the Client a quote for the entire engagement or for a period of time during the engagement (e.g. monthly, quarterly, etc.) “up front”. This method allows the Client to set a project fee that fits the Client’s budget and the Client’s sense of the value of the services. That project fee can take a variety of forms. Those forms include some of the following:
- One amount for the entire engagement or matter;
- Set monthly amounts paid during the engagement or matter; or
- Fixed amounts for each similar item with which the Law Office is asked to help.
- In many instances, the Law Office and the Client simply strike an amount that is the same for each agreement or transaction.
- The Law Office does have a number of retainer relationships. By this way, the Law Office helps to insure that its clients, whether larger, smaller, rapidly growing, cash flow strapped, struggling, etc. receive the professional services the Client needed without deviating from the Client’s budget or ability to pay for those services.
- The Law Office, in selected situations, has and will agree to provide professional services in certain transactions in return for a percentage on the value of the asset or the investment being purchased.
- The Law Office works very hard to avoid the Client being placed in a billing situation which could be described as, “heads, the Law Office wins and tails, the Client loses.” The Law Office works to make sure there is a certain degree of symmetry in the economic result for both the Client and the Law Office. In transaction engagements, the Law Office works at making the bill proportionate to the engagement, to the size of the transaction, and to the economic benefit to the Client. The Law Office’s preferred relationship with its Clients is a “win, win” relationship, i.e., the Client wins and the Law Office wins.
- There have been and will continue to be issues that arise for which the Law Office’s best advice is that Special Counsel be retained for the issue. In those instances, the Law Office’s commitment is to volunteer its time to serve the role of “in house” counsel for the Client in managing Special Counsel and the issue, the tactics and strategies, the resolution of the matter, the decisions to be made, minimizing the intrusion of the issue on the time and attention the management team spends on operations, quality control, the paperwork, and the budget for Special Counsel. Fees for professional services provided by Special Counsel will be forwarded to the Client for payment directly.