Fixed Price Service
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One of the biggest frustrations many people have with lawyers is a lack of cost certainty.
Depending on the complexity of commercial litigation or other matters, legal fees and costs can add up quickly.
If you’re like many of our clients, you may prefer the certainty of a fixed price for legal services.
When the scope of work is clear — and the outcome almost certain — a fixed price will be close to what you would pay if billed hourly.
While fixed price services may not save you money, having set legal fees allows you to budget accordingly.
And you don’t have to worry about accruing additional costs every time you call or email your solicitor.
However, for more complex legal matters, cost certainty comes at a price.
You’re likely to pay more for a fixed price service than you would if billed hourly or on a monthly retainer basis.
It’s impossible for a law firm to accurately estimate how many hours their team will spend on complex matters in commercial litigation.
To minimise the risk of working unbilled hours, solicitors will charge more for fixed price services — if they offer them at all.
At Helix Law, we consider fixed price arrangements for complex pieces of work.
But it may end up costing you more money in the long run.
For straightforward legal services, we quote various fixed prices. For example:
Contract of employment |
From £350 |
Staff Handbook |
£500 plus VAT |
Shareholders Agreement |
from £1,250 plus VAT |
Possession |
from £2,500 plus VAT |
Construction Adjudication |
from £4,000 plus VAT |
We’re always happy to consider different payment options to meet our client’s needs.
For example, you may want us to charge you a fixed price for one step in a commercial dispute, such as drafting a claim form.
The fixed cost depends primarily on the complexity of the work and how much money you claim in the dispute.
In complex litigation, fixed price arrangements are often not possible due to the inherent uncertainty of a dispute in its early stages.
Not being offered a fixed price can work to your benefit.
For instance, suppose a solicitor quotes you a fixed price based on the assumption that the case will go to trial. Contrary to that expectation, the other party agrees to a settlement after only a few days or weeks. In this case, you would pay much more under a fixed price arrangement than you would have paying by the hour.
Another possibility is a capped fee arrangement. Helix may agree to fix a maximum price for the work with a high likelihood of a successful outcome. That way, you know the maximum amount you have to pay but also get the benefits of cost savings if the matter settles early.
By offering fixed or capped prices, we can provide clients with cost certainty.
Whether we agree to fix or cap costs for a specific matter depends on the particulars of the case.
Fixed Recoverable Costs
From 1 October 2023, a Fixed Recoverable Costs (FRC) framework has been applied to litigation valued up to £100,000. This applies to some of our work, though not all.
Although there are exceptions, the historical position was that the losing party would pay the winner’s costs as well as their own, often subject to detailed assessment after the trial or outcome.
Under the FRC framework, some disputes are now subject to fixed recoverable costs. The recoverable amount varies depending on the case’s complexity and the work completed.
If you are involved in issued court proceedings and consider FRC may apply to your case, we’d love to speak with you.
Many firms are concerned by fixed recoverable costs; we aren’t.
We have been working on internal efficiencies and the use of technology and automations for a number of years precisely because we understand how important it is that our time (and your money) is spent on only the highest-level decision-making functions and processes.
Each case and situation varies, but in many instances, the fixed recoverable costs can be higher than the costs we actually incur.
If your risk appetite for legal costs is low and the scope of work is relatively certain, fixed and capped prices are a distinct possibility.
Recent developments and rule changes indicate that fixed fees are becoming more prevalent in commercial litigation. We work within this framework and are at the forefront of offering multiple payment options to our clients — including alternative, risk-based, fixed and capped pricing.
Contact Helix Law today. Let’s have an informal discussion about your legal requirements, and we’ll advise you of your payment options.
We aim to respond to all queries within an hour.
Above all by making our clients strong and by sharing their risk we get better results.
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People frequently tell us that we’re approachable and offer great advice.
They also tell us most solicitors are hard to get hold of whereas we’re happy to listen. The reason for this is that we value long term relationships and we’re happy to speak with business people, to invest our time in understanding your business and whatever your concerns are. Only at that point can we understand whether we’re the right people to help you.