Wednesday, January 30, 2013

COLP advice - Estimating Fees Vs Quoting Fees

It is imperative that when your firm set out the likely fees to be incurred on a legal matter it should made clear that it is an estimate rather than a quotation since a quotation will be treated as a fixed price contract which cannot be varied notwithstanding any provision in the Terms of Engagement to the contrary.

Upon sampling of 10 solicitors published conveyancing fees on the internet for SRA regulated firms 8 did not make it clear that the fees were estimated.

The SRA and LeO are likely to take a very dim view of a situation where your firm has given a quote (fixed fee) and the client has been charged even £10 more. Given that a complaint to the LeO is likely to result in an automatic £400 fee you can rest assured that any profit made on a case will be dented.  

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