AbouzovKrapivin: fee policy
1. Our fee policy is based on two simple principles:
2. By the very nature of our practice (conflict prevention and dispute resolution) we know that you are already stressed, and we do not want to put additional stress on you by arbitrary pricing. We are here to help, not to cause further disturbance.
3. Working with us you know definitely two things: how much and when you will pay.
4. We do not believe in a billable hour as a correct economic concept in professional services field. In client arrangements we do not use billable hour as basis for fee calculations, unless our clients insist otherwise. You never buy hours, you buy specific results.
5. Our pricing is value-based. We understand that clients value specific outcomes, which we jointly define at the outset of each engagement. Our value proposition is based on our efficiency and results achieved by us for you.
6. Typically, we work on fixed budgets.
7. We tie our invoices to specific pre-defined milestones of your matter.
8. To ensure that the above is perceived by you seriously and to further align our interests, we put at least a portion of our fee at risk of specific outcomes, driven by our professional efforts and your acceptance of their value. Basically, you decide at your own discretion whether to pay this pre-defined portion (up to 20% of the total fee) or not based on results of each matter. We do this to stress our commitment to your case, which we have boarded, and to tell you one simple thing: we are with you on this one.
9. We do expect that you pay more for results exceeding your expectations.
10. We always give an up-front estimate of our fees. When the circumstances of the case are not clear up-front, we agree on limited work on a critical first phase (of course, for a fixed fee) and come to equally fixed estimate for further work upon its completion.
11. We do our best to ensure that our partners (local counsel, subject-matter experts, etc.) share our cost policy, although this is, unfortunately, not always possible.