Alternative Fee Arrangements
Legal services are typically offered at a billable hourly rate. In certain limited cases, alternative fee arrangements may be available. To accommodate the needs of our clients, we have developed and used several alternative pricing options that are not tied to the billable hour, such as flat fees, not-to-exceed fees, performance-based fees, blended hourly rates and annual fees.
These alternative fee arrangements are designed to facilitate the efficient delivery of legal services to sophisticated legal consumers. Here are examples of alternative fee arrangements we provide:
- Flat Fees: We will deliver specific legal services on a flat fee basis. This fee model is workable for a single matter, portfolio of matters, and certain phases of legal representation.
- “Not-to-Exceed” Fees: Under this framework, legal matters are divided into identifiable stages, with a not-to-exceed dollar amount set for each stage of the work.
- Performance-Based Billing: Under this arrangement, the matters are billed at standard hourly rates, but a portion of the fee is held back pending the outcome of the matter.
- Blended Hourly Rates: Blended hourly / contingent rates are available for certain litigation phases or entire cases.
- Annual Fixed Fees: A fixed-fee model can be applied to a single matter, portfolio of matters, or even certain phases of legal representation.
The fee and cost agreement of legal representation is required to be memorialized in an engagement letter between the firm and the client. At all times, the fee and cost arrangement must be in compliance with the rules of ethical conduct applicable to attorneys.
To learn more about our Alternative Fee Arrangements, please submit an inquiry to email@example.com.