When considering
different fee arrangements in - house need to look at what they want their firms to do differently.
(That is, unless
a different fee arrangement had been laid out in the Power of Attorney document that your wife's sister signed.)
O'Reilly says that whatever might be happening with AFAs, it continues to be a hot topic and the senior leadership he talks to still expects some sort of
different fee arrangement from the external counsel with which they work.
As well as combining alternative fees with «rigorous project management at every step,» Silversides says York has chosen similar, fairly routine file matters, and are running each file on
a different fee arrangement, to see which arrangement might be best for those types of files.
Not exact matches
This particular
fee is paid for by the seller, unless you make a
different arrangement in your contract.
And the parties — well, I think I hit 11
different events from Thursday through Tuesday, only paying entry
fees twice and enjoying open bars at least half the time (a most civilized
arrangement).
Each share class represents an interest in the same assets of the Funds, has the same rights and is identical in all material respects except that (i) each class of shares may be subject to
different (or no) sales loads, (ii) each class of shares may bear
different (or no) distribution
fees; (iii) each class of shares may have
different shareholder features, such as minimum investment amounts; (iv) certain other class - specific expenses will be borne solely by the class to which such expenses are attributable, including transfer agent
fees attributable to a specific class of shares, printing and postage expenses related to preparing and distributing materials to current shareholders of a specific class, registration
fees paid by a specific class of shares, the expenses of administrative personnel and services required to support the shareholders of a specific class, litigation or other legal expenses relating to a class of shares, Trustees»
fees or expenses paid as a result of issues relating to a specific class of shares and accounting
fees and expenses relating to a specific class of shares and (v) each class has exclusive voting rights with respect to matters relating to its own distribution
arrangements.
Mortgages come with
different deals according to the Consumer Financial Protection Bureau; these
fees have
different arrangements when it comes to the amount of promo points and
fees you can have to reduce your loan's interest rate.
Topics may include, for example, how to create a business plan, the key elements of an engagement letter, how to choose your niche, and how to decide between
different billing
arrangements such as contingency
fees, hourly rates or flat
fees.
While all panelists agreed that profitability is most important, each gave
different ideas of how to respond to requests for alternative
fee arrangements, from fixed
fees and discounted hourly rates, to finding opportunities for the firm and their client to «split the difference» when certain milestones are achieved at greater - than - expected margins.
The client and lawyer simply enter into a new fixed
fee arrangement (or lose)-- not very
different from a series of retainers.
These will form the basis of its move towards alternative
fee arrangements, where it has approached firms with a menu of
different arrangements, with the ambition of moving entirely away from the hourly rate.
And you can usually re-use the same subscription -
fee arrangement for most of your clients instead of having to quote a
different fee structure for everyone who walks in the door.
This chart shows the % of billings under an Alternative
Fee Arrangement (AFA) by firms of
different sizes.
«Many who attended will have been familiar with aspects of a retainer
fee arrangement but what Richard articulated with great clarity was the full range of benefits from such
arrangements with very practical advice on how to make a success of them... I think mixing the content to appeal to
different roles in the firm with a pricing interest is a great idea.»
Legal departments also need to look at
different billing models, such as alternative
fee arrangements, how they manage internal versus external spend, the way they manage relationships with their law firms and how they're using technology to drive better outcomes.
The discussions around terms and
fee arrangements should not be underestimated — a couple of senior in - house lawyers have told me while they have heard all the buzzwords around AFAs and been to several seminars, they often leave still unclear as to how the
different fee structures really work.
Often, the alternate
fee arrangement that's suggested by a client is freeze to last year's rates, which is really no
different.
Nevertheless, economic pressures continue to prompt law firms and their clients to seek some
different arrangements that balance a client's need for predictability and control of legal
fees with a law firm's need to generate profits.