An invitation to lawyers:
We are teaming up with lawyers across the USA, Latin America and the EU and creating special relationships everywhere.
Law Firms are discovering the advantages of teaming up with María José Carrascosa´s Law Firm in International Private Law maters, Government Relations and serious Human Rights and Criminal Defense, including Extraordinary Writs of Habeas Corpus, Mandamus, Coram Nobis and Post Conviction Relief cases. We can help your firm and clients especially when their case falls outside your main practice area or if you need expertise, hands-on and support.
TO KEEP IN MIND.
Our Organization works in the EU, Latin America, and with Associated Attorneys in the USA. We advocate for AFAs. Since 1989, that Carrascosa became an attorney, has applied an AFAs system for fees with her international clients, from Corporate to Civil Private Law, Human Rights, and alternative recourse – in international or domestic courts and arbitration, post judgments etc.-.
Our international organization has a very selective process, where attorneys who want to join us, are put under a scrutiny of standards of practice and efficiency, in their Forums of practice and the International Community. Ethics and decorum, empathy for our clients’ interests and needs are our first priority.
We estimate, for our client law firms or specific case partners, as well as for our future private clients, it is important to read the below information…
We encourage and advocate in the best interest of our clients to work on an Alternative Fee Arrangements Contracts Basis.
Alternative Fee Arrangements
The alternative fee arrangements (AFAs) have been the cause of much debate in the legal community during the past several years. Some law firms and attorneys have been very vocal proponents of implementing them or entirely switching to AFAs whereas others, who seem to be the majority, still feel uncertain if AFAs will help their bottom line or reduce their profitability.
One thing is certain, alternative fee agreements are here to stay since more and more clients, both large and small, are starting to proactively ask for the cost predictability, certainty, and transparency which they provide.
Our goal with this comprehensive article is to explain exactly what AFAs are, and what AFAs are not. Also, we will give an overview of the main types used, as well as the examples of law firms that have successfully implemented AFAs in practice.
What Does an Alternative Fee Arrangement Mean?
According to the American Bar Association:
“AFAs are not about charging more than what an hourly rate might be — they are about charging an appropriate fee based on what value the client receives and how that client perceives value. Alternative billing should be based on what is fair and reasonable both to the client and the lawyer. Keeping track of time should be the lawyer’s measure of cost, not necessarily a measure of the value he or she is providing the clients in their legal needs.”
On the other hand, AFAs are also not about charging less than the hourly equivalent. If a client perceives a greater value for you finishing a work in one hour, than, say in 3 hours, who is to say your urgent work should not be priced higher than what would you ordinary price for the 3 hrs of work?
“When you pay your lawyers for the time it takes them to do something, you get what you pay for – hours. In the meantime, you deter innovation and efficiency and incentivize complexity and redundancy.”
“Every case and every client is different. That’s why we customize our non-hourly fee arrangements at the beginning to make sure our fee is tied to achieving your end goal.”
Source reflexions: Legaltrek