Billing

Question 1

Types/Methods of Billing

Answer 1

How clients are billed depends on the type of case and/or services rendered. 3 main types of billing are:

1. Hourly
2. Flat-rate
3. On contingency

Question 2

Hourly

Answer 2

Method/type of billing in which client is billed at an hourly rate

Question 3

Flat-rate

Answer 3

Method/type of billing in which client is billed at a rate that does not change based on hours of work

Question 4

On Contingency

Answer 4

Method/type of billing in which billing is based on an event that is likely, but not certain to occur; fee based on percentage of recovery; fee based on that percentage even if nothing is recovered; fee/rate is usually between 33.33%-40%

Question 5

Costs, examples thereof

Answer 5

Sometimes advanced by clients, sometimes paid by clients as they are incurred

Examples of costs: Reporters fees; filing fees; service of process fees; deposition transcripts

Question 6

Timekeeping

Answer 6

Responsibility of each person to record any time they spend working on a case