“If the legal fees exceed the quantum of the case, usually something has gone wrong.”
Fee arrangements currently in place in RR&CO's active cases (%)
Discuss how these fee arrangements can benefit you.
Making legal fees work for you.
We understand that cases can benefit from their own bespoke fee arrangement, enabling the maximum impact for money spent. Often deadlocked matters and demurrage recoveries need a short sharp kick through threatening solicitor's letters, larger cargo damage disputes commonly require pressure to be increased through the first few stages of arbitration, whereas heavyweight salvage and collision cases need comprehensive and immediate consideration. We want to obtain settlement or, if defending, dismissal for you as efficiently as possible.
We have developed with clients the following three broad categories of fee arrangements. These can be adapted for your matters.
➤ STANDARD FEE RATES
£100 - 300 / hour
➤ FIXED FEE STAGES
£1,000 - £3,000 / stage
➤ FIXED PARTNER RATES
£225 / hour
Standard Fee Rates
We charge in six minute units and provide a detailed billing narrative of time spent. The four different grades reflect the level of expertise required to handle the level of complexity of each item of work. Please note that we will always charge at the lowest appropriate grade irrespective of the actual seniority of the solicitor doing the work.
Partner
High level, technical & complex legal analysis
£300 / hour
Senior Solicitor
Detailed research. Drafting submissions
£250 / hour
Junior Solicitor
Review of non-technical documents. Research
£150 / hour
Paralegal
Assisting solicitors. Bundling of documents
£100 / hour
Fixed Fee Stages
Often it is important for claim documents to be considered and an initial opinion on the merits produced to facilitate immediate action, such as securing the client’s claim, protecting time-bars and/or establishing the validity of the opponent’s claim. Our usual fixed rate for such analysis is in the low £000's. In matters with limited available documents, such a fee can be accordingly reduced.
As a common example, the following fixed fee stages are available in a standard arbitration:
REVIEW & FIRST ADVICE
Consideration of documents, providing initial opinion on merits
£2,000
COMMENCING ARBITRATION, SERVING CLAIM SUBS
Selection of arbitrator. Draft and service of client’s initial pleadings
£2,000
DISCOVERY, REPLY TO THEIR DOCUMENT REQUESTS
Collection and review of pertinent documents, reports and witness evidences.
£1,000
EXPERT EVIDENCE
Instruction of expert to production of expert’s report
£2,000
WITNESS OF FACT EVIDENCE
Liaising with client, telcon or skypecons with relevant witnesses
£3,000
Fixed Partner Rates
In the initial stages, when a complex dispute is potentially fluid and it is vital for the facts and legal position to be established, clients have found it advantageous to instruct an experienced Partner from RR&CO, such as Head of Law Russell Ridley.
Low fixed Partner rate of £225 / hour
Once the case is established, the matter can continue on the standard rate and/or on a fixed stage fee arrangement.