Maxwell Alves Solicitors are dedicated to helping their clients find the best way in which they can fund their cases. There are a number of charging mechanisms that we could use, starting from the conventional hourly rate.
Our hourly fees are set in accordance with Law Society rates. As we are a niche firm based in the legal heartland of London, we are able to provide a high quality of work at an hourly rate that is both competitive and good value.
We are aware that funding a legal matter can be difficult. In light of this, we are prepared to consider alternative methods of billing should you feel it is appropriate. Such alternatives can only be considered after we have conducted a risk assessment and whether such an alternative method suits both yours and our needs. These alternative methods are:
• Fixed Fee
• Capped Fee
In order to assist our clients we have taken advantage of unconventional methods of billing that have been developed by the Law Society in conjunction with recent case law. Conditional Fee Agreements have been offered by solicitors for sometime, however, they have been done as “No Win No Fee” agreements. Maxwell Alves does offer “No Win No Fee” agreements, however, these are limited only to certain Employment and Medical Negligence claims.
In respect of other litigious matters we are prepared to offer a CFA on the basis that you only pay 50% of our hourly fee. In respect of a CFA, our variable hourly fee is capped at a certain rate. Therefore, over the course of your case you are only required to pay fees of 50% of that hourly rate plus VAT and any disbursements. We shall require this payment to be made monthly upon receipt of our fee note.
Our reduction in fee is based on the requirement of a success fee should you be successful in your claim. The success fee is calculated at 100% of our hourly fee. Should you win, our hourly fees plus the 100% uplift plus VAT, plus disbursements and plus any insurance premiumthat you may have taken out in respect of the litigation, will be payable by the loser. Should you lose you are only required to pay 50% of our hourly rate.
Should you have a clear idea of the work required and the scope of which can be clearly identified by us then we may be able to offer a fixed fee for our work. For example, a claim may have been issued against you or your business and you require us to only draft a defence or draft a settlement letter. If the work is limited, such as in the above example, then a set fee can be agreed prior to its completion.
You may require us to carry out work for you but you do not know how much or how little this is, however, you do know that you only wish to spend a specified amount. In some circumstances we may be able to offer a capped fee, whereby, for example, we charge you for only 10 hours of work at our hourly rate. Should we exceed this amount we will not charge you extra in order to complete the work that we said we would carry out. Should we not complete 10 hours of work then we will return the remainder of the money to you.