Our fees will be based principally on the time spent by us on your behalf. Records of all time spent will be kept and billing sheets will be prepared and sent to you at the end of each billing cycle.
We encourage you to thoroughly prepare your documents and questions in advance of any consultation with us. In doing so, miscommunication and need for clarification are minimized. This allows us to provide our services to you as efficiently and cost-effectively as possible.
Fees may be billed at the Hourly Rate or Daily Rate.
- Hourly Rate
All projects will be billed at the minimum of one hour. For example, e.g. 30 minutes would be billed as one hour instead of half an hour. Should the time spent is more than one hour, then it will be billed at the agreed rate in 6-minute (tenths of an hour) increments, rounded to the next increment. For example, 3 hours and 56 minutes would be billed as 4.0 hours.
- Daily Rate
This alternate rate applies when we are instructed to make trips outside of Shanghai and is used in place of the Hourly Rate.
Rates vary according to position of performer and are specified in the Letter of Engagement and/or Legal Services Agreement. They are reviewed annually and we will inform you if changes are necessary.
FEE COLLECITON & RETAINER REFILL
Invoices shall be payable within ten (10) days of the invoice date. A request to refill the retainer may be made when USD 1000 or less of the retainer remain.
Engagement may be placed on hold if the retainer is not refilled within fifteen (15) working days of retainer exhaustion. After twenty (20) working days of retainer exhaustion, the firm may unilaterally terminate the engagement.
Funds may quote in USD, Euro or RMB, no matter what the current exchange rate. If payment is made in USD or Euro, the client shall sustain all transaction fees and use the exchange rate of the day of payment.
— Updated March 2020 —
This Billing & Fee Collection Policy may be updated incrementally and have the updated versions post on our website or sent to you directly when needed. We strive to do our best to provide services of quality, as well as finding the best way to keep a healthy client-attorney relationship.