Got a case to deal with? It will be wise to work with an attorney. But before you work with one, understand that their services do not come cheap. As such, it is practical if you discuss with the attorney how their billing works.
According to Rapid Legal Solutions and other lawyers in Townsville, professional fees depend on a wide range of factors, such as experience, the gravity of the case, and the administrative expenses involved. Nevertheless, it is important that you know the different fees that may appear in your billing.
Here are the two major types of fees.
A retainer fee can be thought of as a down payment or deposit that will ensure that you will get the services of the lawyer. This upfront fee also pays the attorney for agreeing to handle your case. From another perspective, this fee allows you to gain an advantage in settling the case more quickly by using the reputation of the attorney.
They are also known as disbursements. These are the expenses that your attorney has incurred after carrying out tasks, such as the filing of the necessary legal requirements, getting reports from witnesses, and doing the legwork or research for the case.
Understanding Fee Arrangements
Once you have an idea how your attorney’s fees work, it is time to set an arrangement. Arrangements usually refer to how the fees will be paid.
In most cases, especially with high-profile clients, the attorney may pitch a fixed rate. This method of collection usually applies to business incorporations or criminal defence cases. On the other hand, if you want a lawyer to work only on a specific portion of your case, you may agree to pay an hourly rate. When it comes to liability and injury cases or other situations where claims are involved, the lawyer may agree on a contingency fee arrangement. In this case, the lawyer may receive a percentage from the client should their party win the case.
Regardless of the fee arrangement you may want to agree on, you should make sure everything is printed. Do not hesitate to consult another lawyer if you have some problems about the fees set by the lawyer you are presently working with.