LEGAL FEES

SETTING LEGAL FEES

There are three methods of setting fees: time-based, flat-rate and performance fees.
TERRÉSA ‘s fees are, in principle, calculated on the basis of time-spent, for an hourly rate ranging from €150 excluding tax to €300 excluding tax, depending on the experience and field of competence of the lawyers and collaborators working on the assignment, an hourly rate to which should be added VAT (20% rate).
To the extent that the due diligence to be performed can be identified and the time taken to complete it quantified, a fixed fee is proposed.
For some missions, a result fee may be established, which includes:

• A fixed fee in the form of a flat-rate or hourly rate, corresponding to the remuneration for the services provided;
• An additional fee based on the result obtained, very often in the form of a percentage.

Additional fees may be requested, in agreement with the client, in view of the time required to complete the project, the complexity of the case or the result obtained.
In the event of a client’s decision to terminate the firm’s assignment, the fees are due according to the time spent on the work already carried out.

FEE AGREEMENT

In all cases, except in emergencies, an engagement letter or fee agreement is drawn up prior to the firm’s intervention.
This agreement is drafted to determine:

• The lawyer’s mission;
• he terms of the proposed fee (fee per time spent or flat rate or result);
• Additional fees in the event of additional services;
• Reimbursement of disbursements (sums incurred by the lawyer in the course of his or her work, i.e. tax stamp fees, registration fees, court fees, etc.)
• The customer’s payment obligations;
• Additional costs to be anticipated that are not included in the fee (travel expenses).

LAW OFFICE BILLING POLICY

A request for a provision is called at the time of acceptance of the assignment by the client. Thereafter, the fees are invoiced as the case progresses. Fees are payable upon receipt of invoice.
Travel expenses are invoiced on the basis of the number of kilometres travelled, and at €0.65 excluding VAT per kilometre.
Other costs and expenses incurred on behalf of the client are invoiced to him, euro for euro, and on presentation of supporting documents.
Any delay in payment may give rise to the payment of late payment penalties equal to three times the legal interest rate. In addition, there is a legal fixed compensation for recovery costs of €40.