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The Burk Law Firm, P.C. offers its clients a range of creative billing options to suit the needs of businesses and individuals desiring to use the legal services of the Firm.
The Firm undertakes litigation, at the Firm’s discretion, under one of the following billing options:
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Hourly fee arrangement (Different rates apply to different attorneys working on a case according to their level of experience); the client pays all expenses of the litigation; all sums due under any invoice are due within 30 days of receipt of an invoice. |
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Hybrid arrangements: |
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“Reduced Hourly/Client Pays Expenses/Contingent Interest and Possible Installment Payout of Reduced Hourly Fees”: This arrangement provides for a reduced or discounted hourly fee for all attorneys working on the case (different rates apply to different attorneys working on a case according to their level of experience); in exchange for a contingent interest in any and all recoveries in the case. The contingent amount owing to the Firm depends on the rate of discount made on the fees; the higher the discount on the fees, the higher the contingent interest. The contingent fee for the Firm under this type of hybrid arrangement ranges from 10% to 25% of the gross recovery. The Firm may also agree, subject to a higher factor being added to the contingent interest (usually an additional 5% of the gross recoveries), to allow an installment payout of the discounted fees, owed under this arrangement, over a payout range of 6 to 36 months depending on the amounts involved and at the Firm’s discretion. The client is responsible to pay all the expenses of the case. All contingent interests under this arrangement are calculated on the gross amount of the recovery; |
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“One Time Non-refundable Retainer/Client Pays All Expenses/Contingent Fee Arrangement”: This arrangement provides that client pays a one-time nonrefundable retainer to the Firm to commence the litigation. The client pays for all expenses of the litigation. The Firm also is given a contingent interest in all recoveries in the case received by the client (but the client gets a credit against the contingent amounts owed the Firm for the amount of the one-time retainer) and the contingent amount required by the Firm on recoveries under the arrangement is 30% for all pretrial recoveries (“pretrial recoveries” defined as any recoveries received before sixty days before the trial begins, and 36% contingent interest for the Firm for all recoveries received by client after 60 days before the trial begins. All contingent interests under this arrangement are calculated on the gross amount of the recovery. |
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Pure Contingency Arrangement: This arrangement provides that the client pays nothing (no fees and no expenses) until and unless there is a recovery or recoveries in the case. In return, the Firm receives out of the gross recovery or recoveries in the case, 40% of any recoveries received on or before 30 days after the trial of the case is concluded. The Firm receives 45% of the gross recoveries received by the client after 30 days from the date of the end of the trial in the case. In the unlikely event the case is retried after an appeal, the Firm receives 50% of the gross recoveries received after the date the case is remanded back to the trial court for retrial. |
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