The primary method of costing we employ is “time costing.” This is the most common method utilised within the legal services industry.
We employ time costing on the basis of a 6 minute unit per hour. That is, each hour is broken down into 10 x 6 minute units and you are charged for the number of units, or parts of units, it takes for us to complete a task on your file.
An advantage of time costing is when an experienced, knowledgeable lawyer is working on your matter and the work is performed quickly and efficiently, you pay less.
Conversely, it is a disadvantage of time costing if a junior solicitor is working on your file and taking longer to perform the same task and thus charging more for a possibly lower quality service.
One alternative to the abovementioned time costing billing arrangement, which can provide certainty for you, is a fixed fee agreement.
A fixed fee agreement means we negotiate with you in advance a set fee for the matter, or stages of the matter, giving you 100% peace of mind upfront that all work required is completed for the agreed fee. Depending on your circumstances and requirements, we are open to engaging in discussions, and negotiating with you, on fixed fee agreements.
If your matter is being billed on a time costing method, as stated above, we will provide you with an estimate of fees, for each step along the way or whenever you request an estimate be provided.