Freedman + Hilmi operates on a different basis to most other law firms. For a start, we favour fixed or capped fees over hourly rates. That’s because we know that cashflow and budgeting are vitally important to businesses.
We believe hourly rates tend to reward inefficiency and time recording can result in disproportionately high fees in view of the scale of the transaction and the complexities involved.
In the majority of cases, we are able to quote a fixed fee at the start, and stick to it. Occasionally, the nature of the job may be uncertain from the outset, or our experience may lead us to anticipate delays from one or more parties. In these cases, we will quote a fixed-fee range.
We know that when lawyers start asking for more money, it can be very irritating – and it can eat into profit. So we will stick to the agreed fee or fee range. If the scope or nature of the instruction changes or goes substantially beyond what all parties initially anticipated then we’d expect to have a sensible chat with the client as early as possible.
And to ensure that we make money too, we will work efficiently. And that benefits everyone.