Charges and Timescales
Charges
Our hourly rates for costing, costs recovery and budget work are between £50 per hour and £200 per hour plus VAT.
Timescales
We always put our clients’ needs first and will ring–fence time in our work schedule for new work. We ensure that our clients comply with the timing requirements of the CPR in relation to costs management. We also prioritise informal and formal service of bills of costs and obtaining interim payments of costs.
Bill drafting
Turnaround times for bill drafting (from agreed start date):-
| Hours on WIP | Overall turnaround |
|---|---|
| <200 | < 7 working days |
| <500 | < 14 working days |
| <900 | < 24 working days |
For bills of costs where the ‘hours on the clock’ exceed 900, for every additional 30 hours of WIP, our overall turnaround will increase by one working day.
Costs management
Valuing incurred work – the turnaround times are similar to the times given for bill drafting although, depending on the type of incurred work valuation, the turnaround can be up to 50% quicker (as solicitors increasingly time record by phase, the cost of valuing incurred work will decrease dramatically).
| Work To Be Done | Timescale |
|---|---|
| Drafting the Litigation Assumptions that will form the basis of the draft budget | < 5 working days of receiving full instructions |
| Completing the first draft budget | < 2 working days of receiving approval to the draft Litigation Assumptions |
| Updating the draft budget (ahead of the CCMC) | < 3 working days of receiving full instructions |
| Comparing and analysing the draft budgets of the parties and providing fully supported comparison tables of the draft budgets | < 3 working days of receiving the budgets of all parties. |
| Post agreed/approved budget monitoring and budget revisions | We agree a timescale with our client to ensure the CPR requirements are complied with |
Costs negotiations and recovery
On receipt of all necessary documentation and instructions we ensure informal and formal service of bills of costs by the end of the next working day.
Any offer received will be communicated to you within one working day with timescales for providing detailed advice. Detailed advice will be provided to you at least three working days before the expiry of the offer.