Common use of Billing Policies Clause in Contracts

Billing Policies. On our invoices 6 minutes equals .1 of an hour. We multiply time spent by our hourly rate to calculate the fee (i.e., .5 (30 minutes) x $225.00 = $112.50). There is a minimum charge of .1 for each service rendered if that service takes 6 minutes or less. We invoice you periodically (usually monthly or when a particular part of the file has been brought to a conclusion). We deduct the amount of each invoice from your trust account balance as soon as the account is prepared. This helps you monitor legal expenses and anticipate when we will need additional retainers. If we do not hear from you within 15 days from the date an invoice is mailed to you, we assume you agree with the amount of the invoice. Interest on any account which remains unpaid after 30 days is charged at the rate of 2% monthly on the outstanding principal balance. When we receive funds for you from any recovery you may obtain (i.e. judgment, settlement funds, proceeds from collection of a judgment) any amounts you currently owe us are deducted from the funds before paying the balance to you. Your signature on this agreement authorizes your lawyer to apply any cheques or drafts payable to you for amounts recovered in this matter and to deposit the same in trust to apply to outstanding accounts owing to. A Court award of legal costs to you does not relieve you of the responsibility to pay accounts owing to our firm. Because you pay our invoices directly, any legal costs awarded are your funds, subject only to the above paragraph.