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Our firm dumped the billable hour and adopted “value pricing” in 2005. We customize fixed prices for our clients depending upon the value of the case to them. We usually create three pricing options from which to chose. The price is developed only after extensive work with the clients to explore their options and develop clear and precise plans as to what is to be accomplished. A recent survey of Canadian Lawyers reflects that our method is the preferred method of charging from the client’s perspective:

“The survey shows that lawyers continue to look for ways to work around client requests for alternative fee structures, with the clear majority offering flexibility. Blended hourly rates, fixed fees, rising discounts, contingencies, monthly legal budgets, and a long list of other approaches are now an important selling point for many lawyers and firms. “We provide a fixed fee for almost all the work we do and clients love it as it provides them with 100-per-cent certainty as to total costs,” said one respondent. “Our fixed fee quote, however, may be priced over some other firms who provide a low estimated price but know full well the actual price will far exceed that number. Sophisticated clients know better and see our fixed fee as more than competitive taking everything into account.”