Athene Legal Law Cost Draftsmen in London

Estimates of Costs

We work alongside lawyers from the outset of claims to formulate accurate estimates of legal costs that can be relied upon, relayed to the client and to establish the suitability of certain funding arrangements.

Whilst it is often difficult to tell at the outset what the overall cost of a claim will be, our knowledge and expertise in costs management affords our clients the best possible opportunity of having an accurate estimate of costs from the outset that can be relied upon.

It is important that estimates of costs are accurate, not only because the court is entitled to consider the estimate as a yardstick in determining what is a reasonable level of costs, but also because clients want to be assured that their lawyers are on top of the financial aspects of the case and not simply the legal aspects.

We prepare estimates of costs for multiple purposes, including:

To Provide to the Client

According to Rule 8.7 of the SRA Code of Conduct for Solicitors, RELs and RFLs, clients must receive the best possible information about how their matter will be priced and, both at the time of engagement and when appropriate as their matter progresses, about the likely overall cost of the matter and any costs incurred.

Damages-Based Agreements and Third Party Funding

When evaluating whether legal matters are suitable for damages-based agreements or third party funding, it is important to assess a number of factors, including the overall cost of taking the claim to trial and the likely recoverable costs inter-parties. We can assist solicitors and funders by providing accurate estimates of costs that enable them to establish with confidence whether a legal matter is suitable for these types of funding arrangements. It also helps them to establish an appropriate contingency fee; one that is profitable but also attractive to the client.

Our approach

As with all estimates of costs, if there are unforeseen developments in the litigation, the estimate may need to be revised. We help our clients by revising the estimate of costs before such costs are incurred.

To discuss how we can assist you with the preparation of estimates of costs, contact us using the details below.

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If you are searching for costs lawyers in London, contact us now to discuss your needs and receive a free, no obligation quotation.

Frequently Asked Questions

The best approach is always to increase the estimate of costs before the costs are incurred. Clients should be informed immediately if it becomes apparent that the estimate will be, or is likely to be, exceeded. This should happen before undertaking the work that exceeds the estimate of costs.

Where an estimate of costs is given but the costs claimed subsequently exceed the estimate, it does not automatically follow that the solicitor is restricted to recovering the estimated sums. It will largely depend on the explanation for the divergence. Generally, the greater the difference between the estimate of costs and the final bill, the greater the explanation required. However, if there were no unexpected developments in the case and no satisfactory explanation for the difference, the costs may be limited to the estimate.

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Our costs lawyers are ready to help you navigate all elements of legal costs