Fixed costs reduced by 50%

Added Wednesday 5th January 2005

In a recent tender exercise for a Property Company we were asked to obtain competitive quotations for legal advice in relation to a commercial property development project. We approached reputable solicitors’ firms with a detailed specification and protocol and obtained fixed, capped and success fee proposals from each firm. The firms were required to demonstrate their expertise and experience in this specialist area of work. The winning firm offered fees under all three bases at half the rate of the most expensive firm, saving our client a proven £25,000. Our fees came to £2,500 – just 10% of the saving achieved.

First Law's fee structure: Commission payable by law firm.