Why Frank Fee™
Cost Certainty
For budgeting purposes and peace of mind, know the exact cost of your project before we begin. When it comes to billing, the best surprises are no surprises.
Agreed Pricing
We work together with our clients, including when it comes to billing. Before starting a project, we agree on a fair price based on your unique needs and the value being provided. Simple.
No Hourly Fees
If you have a question or need to contact us, you can feel comfortable doing so without the worry of additional charges. No hourly fees. No billing worries.
Better Communication
With pricing already agreed upfront, more time can be spent on the conversations that matter. Open communication and cost certainty from start to finish.
FAQs
How does it work?
- First, we discuss with you what you need so that we can fully understand the scope of the project.
- Then, we send an engagement letter or email stating exactly what we will do and the fee for the service.
- If you accept the fee, simply sign the engagement letter or reply to our email with confirmation.
- Next, we get to work. Our team will do what we committed to do and complete your project.
Defined Terms
- Frank Fee™: a method of creating price certainty for our clients by agreeing on a total fee amount for legal services upfront, with a fixed fee, success fee, periodic fee, or hybrid of those.
- Fixed Fee: a total fee amount for the entire project.
- Success Fee: a fee that depends on the overall success and completion of the project (for example, a fee equal to a specific percentage of the sale price of a business).
- Periodic Fee: a fee that is paid at regular intervals (for example, a fee paid monthly for ongoing services).
What happens if the project changes mid-way through?
- If the project changes mid-way through, we will re-evaluate what is required and enter into a revised agreement for those services.
Can I choose to receive DL&CO’s services on an hourly billing basis instead?
- Yes. If we have an ongoing project or arrangement with you that is structured using hourly billing, we will honour that arrangement and carry on as agreed.
- If you are a new client or an existing client starting a new engagement with us, we will discuss Frank Fee™ with you in detail and work towards reaching an agreed price. If we are not able to find a mutually agreeable Frank Fee™ solution, you can still have the work done on an hourly basis.
How do you determine the fees under the Frank Fee™ method?
- We consider a number of factors, including:
- the market rates for similar types of projects in the Lower Mainland;
- our experience completing similar projects in the past;
- the resources required to complete the project;
- the overall benefit or value that the client will derive from the project.