Structure of Payment for Legal Services of Company in Lithuania UAB
For both the client and the legal company, it is important to know the structure of payment for legal services. Company in Lithuania UAB offers a number of transparent options of payment for legal services according to the needs of company’s clients. The reasonableness requirements apply to any and all forms of determining the cost of legal services, including hourly fees, fixed fees and advance/deposit system of payment. The cost of legal services of our company meets the reasonableness requirements, as evidenced by the fact that reasonable rates are used for its calculation and a reasonable amount of time required for the provision of high-quality legal services is taken into account.
This feature based on many years’ experience of participating in a large number of legal projects allows our clients to order services from our company as needed while having a full understanding of how the cost is calculated. When determining the cost of legal services, the main goal of our company is to agree upon the structure of payment for legal services, which will best meet the interests of our clients from the very start of the project implementation, and avoid misunderstanding and misinterpretation.
The structure and amount of payment for services provided by Company in Lithuania UAB depends on the type and scope of work to be performed and work completion time, as well as on how often the work will be performed and how complicated the legal issue under consideration is. The payment structure will be agreed upon with each client in advance on an individual basis and will be specified in the contract signed by the two parties, namely our company and the client’s representative.
Company in Lithuania UAB offers three options of payment for legal services: fixed legal fees, hourly legal fees and advance payments. All proposed payment structures and their conformity to the legal issue of the company’s clients will be discussed in detail during the first consultation offered free of charge and, after they are agreed upon and confirmed by both parties, will be specified in the contract.
When determining the structure of payment, the main goal of our company is to be as transparent as possible to our clients in terms of payment for legal services and avoid misunderstanding or misinterpretation when it comes to payment, thereby establishing trust-based and open relationships with all clients of Company in Lithuania UAB.
Three payment options offered by our company
Fixed legal fees
Company in Lithuania UAB can offer a fixed fee for the following services provided by our company:
- Setting up a company in Lithuania
- Registered address service in Lithuania
- Proxy representation
- Preparation of a package of documents for a Lithuanian company
- Accounting support for a Lithuanian company provided on a monthly basis
- Submission of an annual report for a Lithuanian company
All of the above fixed legal and accounting fees shall be paid for before the start of work. The main advantage of a fixed fee is that it cannot be changed thereafter and, when ordering the required service, you will know exactly what is included in the agreed amount, when the work will be completed and what obligation our company has to you.
Hourly legal fees
An hourly fee for legal services provided by Company in Lithuania UAB is the most common method used to pay for legal services. An attorney will keep track of the time spent on investigating the client’s request and providing the legal service itself. All legal projects are unique and payable depending on the amount of time spent on their implementation, since in most cases it is not possible to calculate the cost of implementation without a close investigation and review of the project. The hourly rate set by our company for participating in such projects is EUR 50 + VAT. Invoices for this type of legal service will be agreed upon with the client and issued by progressive stages to help produce a project budget.
Deposit system of payment for legal services
Advance/deposit payments for the provision of legal services will be transferred by the client to the bank account of Company in Lithuania UAB after the contract is agreed upon and signed by the two parties. The amount transferred will be deposited in a trust account and, while fulfilling a legal order on behalf of the client, we will be able to progressively withdraw funds from this account as payment for the work performed depending on the time spent on the project. If, after the fulfilment of the client’s order, unused funds remain in the trust account, they can be used to order other services from Company in Lithuania UAB.
Our company is always aimed at providing high-quality legal services to our customers in all areas of our practice. We are always open to dialogue, flexible in determining the cost of services and ready to discuss payment terms with you on an individual basis.