We know that our professional services must add value for our clients and their businesses.
By minimizing our overhead costs, we can offer very competitive hourly rates, fixed fee agreements or, when permitted, contingency fee arrangements. Alternatively, we can arrange third party funding for our professional fees and the costs incurred in the conduct of an international arbitration. In agreeing our professional fees and providing our budget, we adopt the following hourly rate fee structure, excluding taxes:
|Fee Earner||SGD per hour||USD per hour|
|Senior Advocate||825 to 975||595 to 695|
|Advocate||495 to 725||350 to 525|
|Professional Support||195 to 250||140 to 180|
From the very start, we provide our clients with a clear and transparent budget for our legal and other costs that will be incurred, which budget is proportional to the value of the matter in which we are engaged. As the matter progresses, we will provide a monthly update as to the costs that have been incurred against that budget and a clear description as to how those costs have progressed our client’s matter.
In order to keep to the agreed budget and to ensure that the matter is handled cost effectively, we staff each matter with three advocates or less. If the size or complexity of the matter requires additional advocates, or professional support, then we shall agree the team members with our client at the outset and manage the various tasks according to the expertise that each task requires.
We understand that for their own internal budget requirements, many of our clients prefer to agree a fixed fee for the matter or for certain stages of the litigation or arbitration. In that event, we will provide our client with our scope of work and an estimate as to the time that our advocates and professional staff will incur. Referencing our standard hourly rates, we will then agree a fixed fee for our professional services as well as dates for payment that are commercially acceptable to our clients.
Certain matters may require us to engage independent third parties on behalf of our clients, such as technical experts, forensic accountants and foreign law experts. If we do engage any third party on behalf of our client then we shall agree with our client the fee that the third party shall charge for the services to be provided. To ensure transparency, we shall also provide a detailed breakdown of all time and costs incurred by that third party and the tasks performed on behalf of our client.