Any item may be charged according to the number of units. Time spent charged in units is on the basis that 1 unit is equivalent to 6 minutes. The value of the unit reflects the hourly rate which may be adjusted by reference to the circumstances. A list of detailed charges in units is contained in Part 3.
Any item of business, or a whole account, may be charged according to circumstances
Any item of business charged by that method or by reference to units will aim to be a
sum which is fair and reasonable both to us and to you, taking into consideration the
following factors where relevant:
In a case where the fee is agreed in writing in advance, it will not be subject to obligatory taxation. Such an agreement is required for a speculative case with After The Event Insurance.
Where the value of the transaction is the dominant factor, the value will be taken to be either the amount stated in the writ or calculated as follows:
If the consideration is termly or periodic payment the value shall be the capitalised value, i.e. in leases or similar contracts, the total sum exigible under the whole contract or during the first 10 years, whichever is the lesser. Where the right of a landlord to recover possession is restricted by statute, the period of the lease shall be taken to be 10 years.
Where no price or consideration is stated, the value of the subject matter will be calculated according to the best evidence available. (e.g. stamp duty value, stamp duty value in any transaction within the last 3 years, last price at which property valued in the last 3 years, survey report, etc.)
Where in a purchase from a local or national government body or agency the price is discounted, the gross value before discount shall be the value.
Where deeds are revised by us, the fee will be one half of the drawing fee otherwise specified in this schedule.
Where we properly act for more than one party in any matter or business in which several parties have distinct interests, we will charge against each party in respect of our professional responsibility for each distinct interest.
This charge will cover posts, telephone and fax calls and minor outlays. It will not normally exceed 5%. If a courier or other specialised delivery service is used, their fee may be charged as an outlay.
Where we have acted in any matter which has not been completed by us, we will charge for the work which has been done.