| Pricing
Policies
The fees charged by the firm for
a given engagement are set out in a written contract that
we enter into with each client. What follows is a general
description of our pricing practices Sommers & Schwartz LLP
offers billing policies ranging from hourly to full contingency,
and a variety of hybrids as well. Those hybrids include clients
receiving a reduced hourly rate in return for a contingent
fee percentage that is lower than the standard structure,
or clients only paying all costs.
Our current hourly
rate for partners is $400 - $450, with associates and paralegals
being billed at rates that reflect their experience. We generally
charge a retainer for all cases that are not full contingency.
Those retainers range from $5,000 - $50,000, depending on
the case and the client. One half of each bill is charged
against the retainer, with the client being responsible for
paying the remainder and replenishing the retainer monthly.
The standard contingency
structure involves clients paying the costs, and 33% of the
gross recovery if settlement occurs before the last month
prior to trial, 40% from thirty days before trial through
trial, and 50% if any post-trial motions or work is performed.
Particular matters
may have circumstances that call for unique fee structures.
We are always ready to discuss individual situations with
our current and potential clients. Sommers & Schwartz LLP
has been very successful in crafting workable mixed hourly
and contingency fee arrangements that have allowed small to
medium-sized businesses and prominent individuals to defend
themselves and recover significant awards.
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