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Fixed Fee Cost Agreement

Do law firms ever pay the client`s trial fees? The Legal Profession Act 2007 (LPA) requires lawyers to disclose to their clients the basis on which they wish to calculate their legal costs (see note 1) and requires them to make this disclosure operational either before or as soon as possible, after accepting the client`s instructions (see note 2). It allows lawyers to enter into cost agreements with their clients, among other things, for this purpose (see note 3). It requires a number of specific types of cost agreements to meet specific requirements (see note 4) and prohibits a type of cost agreement as a whole (see note 5), but also leaves lawyers with great flexibility, subject of course to their overall ethical obligation to ensure that the agreements they enter into with their clients are fair and reasonable (see note 6). For advice on how to offer fixed-price agreements, please contact one of our competent controllers on 1800 267 846 or see qics.com.au. In addition, even if a case is tailored to a conditional pricing agreement, a law firm must carefully manage its resources and cash flow. For example, lawyers cannot accept potential costs if they feel the case will be so demanding that it will affect their ability to represent other clients or pay overhead during the case, or if the potential return on time and money does not justify the risk. Under these conditions, a lawyer may represent the client on a traditional hourly basis, a hybrid conditional hourly royalty base or with other AFAs. Lawyers and law firms can also work with other law firms to spread risk and reward. Law firms dealing with residential property intermediation (and, indeed, transportation) are perhaps the most popular examples of a fixed legal fee. They ensure the client`s safety and are best suited for legal instructions when the investigation is not complex, can be handled procedurally, and the lawyer does not take “personal” or not at all time. However, fixed money agreements for lawyers and their clients have clear advantages over long-term agreements (see note 8). Lawyers who enter into carefully designed fixed money agreements give their clients a welcome advance guarantee on their legal fees, which is almost impossible for lawyers who take time to provide their services.

In addition, lawyers who enter into fixed fee agreements are almost certain to avoid the most common of all consumer complaints through lawyers – complaints that a lawyer does not give enough disclosure fees and that bill when it finally came as a nasty surprise. We are not proposing to enter into this debate. We do not have the importance of promoting one method of calculating legal costs over another, unless the legal costs, no matter how they can be calculated, are fair, reasonable and fair and reasonable.