Sentences with phrase «fee billing arrangements»

More and more often, attorneys are turning to fixed fee billing arrangements for compensation of their services.

Our firm has been less successful at selling these arrangements, but have instead done better with fixed fee billing arrangements.

Not exact matches

A full - scale utility - bill audit requires the services of an expert, and you can hire consultants in either contingency or fixed - fee arrangements.

The bill also prohibits lawyers from having arrangements to collect lucrative referral fees from lenders, which encourage frivolous filings and prolong litigation that should've been settled sooner.

I can structure almost any kind of fee arrangement agreeable both parties, but I have no hourly billing rates.

Generally we focus our attention on the mechanics of common structures, such as volume based discounting, contingency arrangements, flat fee billing, success fees or secondments.

That means using hourly billing, flat fees, contingent fees, and hybrid arrangements to suit each matter best.

If attorneys avail themselves of the advances in computer technology in the past decade or two, they can more easily come up with flat fees or other alternative billing arrangements — and continue to make a profit, Calloway says.

To ensure the cost - effective delivery of legal services, a lawyer in private practice needs to: (1) operate in a skilled and efficient manner; (2) keep accurate records of time and costs; (3) maintain communication with the client as the matter progresses; (4) inform the client is there is a need for change in the arrangements concerning the scope of the work or fees and expenses; (5) bill clients monthly or quarterly, or as arranged, but promptly in accordance with the arrangement; and (6) maintain an internal rate schedule justifiable to the consumer, and review it at least annually.

Therefore, they seek more alternative fee arrangements, fixed / capped costs and creative billing arrangements from their law firms.

Whether you bill hourly or use alternative fee arrangements, knowing how much work you're putting into a matter versus how much you think you should or want to put into it is critical.

Variations of hourly billings, fixed fee billing, contingent fee arrangements and other forms of «alternative billing» are no longer merely isolated experiences.

's clients can choose to utilize alternative fee arrangements such as fixed costs, capped fees and / or «value billing» (or a mix of all three).

Fee arrangements other than hourly billing have been around for a long time.

St. John firm Gilbert McGloan Gillis billed more than $ 500,000 in fees, disbursements and taxes between June and September for their work on a restructuring plan for the holdings of Hank Tepper under the Companies» Creditor Arrangement Act.

While there are comparable gaps between importance and satisfaction for fee arrangements (81 % vs 68 %) and billing practices (81 % vs 68 %), value for money shows a much greater difference: 87 % of respondents regard value for money to be important, just 63 % are satisfied with their law firms» performance.

Another area where firms need to improve is with fee arrangements and billing practices, with satisfaction on both falling by 0.1 to 3.8 out of 5.

«We've been doing alternative fee arrangements for over 20 years,» says managing partner William (Bill) S. Chalmers.

Translated from Australian, that means the firm will avoid billing by the hour and instead employ fixed - fee and outcome - based billing arrangements.

In the simplest terms Alternative or Special Fee Arrangements are agreements between a law firm and a client to provide compensation to the firm based on a structure other than hourly billing.

Each section — Pricing Strategies, Alternative Fee Arrangements, Billing Rates — is summarized below:

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.

Contingent fee (success related) billing arrangements and other non-traditional fee structures are commonplace, in appropriate circumstances.

Once profitability by matter can be calculated, profitability for many other sub-units — such as by client, practice area, type of work, type of fee arrangement, billing partner and supervising partner — can be calculated simply by aggregating profits for the matters comprising the relevant sub-unit.

Our reasonable costs, tailored, alternative approaches to fees, and flexible billing arrangements make our outstanding service very economical.

For example, matters can be associated with a practice area, type of work, type of fee arrangement, client, billing partner or supervising partner.

The general theme is this: hourly billing frustrates clients; firms need to find new ways to add and show value — and the best way is through alternative fee arrangements that clients are gravitating towards in droves.

Led by the Association of Corporate Counsel's «ACC Value Challenge,» corporate America is increasingly demanding that their outside law firms abandon the entrenched, historic, «cost - plus,» «billable hour» economic pricing model in favor of «Alternative Fee Arrangements» («AFAs») and other «value billing» approaches (e.g., non-hourly pricing arrangements such as «fixed fee,» «contingency,» or «hybrid» fee arrangementFee Arrangements» («AFAs») and other «value billing» approaches (e.g., non-hourly pricing arrangements such as «fixed fee,» «contingency,» or «hybrid» fee arArrangements» («AFAs») and other «value billing» approaches (e.g., non-hourly pricing arrangements such as «fixed fee,» «contingency,» or «hybrid» fee ararrangements such as «fixed fee,» «contingency,» or «hybrid» fee arrangementfee,» «contingency,» or «hybrid» fee arrangementfee arrangementsarrangements).

Another area where technology could prove useful is in platforms that could more easily accommodate value - based fee arrangements as opposed to hourly billing.

You can use customized fee arrangements, billing schedules, and more.

On alternative fees: Clients, not firms, have been the greater barrier to adoption of alternative billing arrangements, panelists suggested.

«We will also be organizing a conference about solutions, about how can we bill our clients differently, how we can share the risk, how we can increase predictability... and bring tools for lawyers to be able to evaluate fixed - fee arrangements.»

Moreover, as law firms move toward alternative and fixed - fee arrangements, they're far more likely to use paralegals, whose rates are tied to the fixed fee and not billed hourly.

And a lot of the issues that are driving the necessity of this new strategic outlook, or positioning, may be new technology, alternative billing arrangements, the fee structure, obviously, the generational mix... diversity, etc..»

she asked, referencing the revolution around value - based billing, alternative fee arrangements, and disaggregation of legal services.

It's a natural reaction for lawyers and law firms to resist it because they would like to retain the hourly billing at a non-budgeted amount, but there are lawyers and firms that actually come to the table and offer the alternative fee arrangement — it could be a cap on certain things, or a volume discount.

Respondents were asked to rate the importance of — and their satisfaction with — 12 criteria covering all aspects of legal advice provision, including commercial acumen, billing, fee arrangements, relationships, teamwork and innovation.

Even if you ditch the billable hour, you still have to bill your clients for your work (either through flat fees or some other hybrid arrangement).

Over the 12 - month period ending December 31, 2015, 9.4 percent of matters submitted and processed via the CounselLink solution were invoiced, at least in part, under a fee arrangement other than traditional hourly billing.

Fixed - fee billing: Under the fixed - fee arrangement the firm and the client agree upon the fees to be paid for all of a client's work, or all of a client's work in a particular practice area, or for particular elements or tasks, or for various phases of work.

«None of this work will be billed at hourly rates but rather will be competitively priced through fixed - fee arrangements that will vary depending on our clients» requirements.»

Key Metric # 3: Alternative Fee Arrangement (AFA) Usage AFAs used in 9.4 % of matters and 7.0 % of billings in the past year 3b Based on trailing 12 - months ending December 31, 2015

Variations of hourly billings, fixed - fee billing, contingent fee arrangements and other forms of «alternative billing» are no longer merely isolated experiences.

Chrometa — Even with the trend towards flat fees and other alternative billing arrangements, the billable hour is not dead yet.

92 % of the responding firms was using non-hourly billing arrangements, with half reporting an increase in fees generated from these arrangements as a percentage of total revenue for 2013.

In addition to our standard hourly billing, we offer flat fees, blended rates, partial contingency arrangements and capped fees.

Our new recurring billing feature is perfect for attorneys offering alternative fee arrangements.

A majority, 71 per cent, use non-hourly billing or alternative fee arrangements primarily to be proactive to remain competitive.

But now, tired of subsidizing law firm gravy trains, large corporate clients are forcing firms to offer alternative billing arrangements, such as flat fees, volume discounts and banning new associates from working on matters.

The Canada Revenue Agency, in an update to its website on April 28, stated that the elimination of billed - basis accounting is not expected to affect contingency fee arrangements, where the terms and conditions of such arrangements are bona fide.