These are our standard terms of trade:
Fees:
The basis on which our fees will be calculated is determined on a range of factors applied by the New Zealand Law Society which include: time, expertise, importance, urgency and results achieved. The current hourly rate that will apply to the person primarily responsible for your file will be $415.00 (Partner of firm) or $250.00 - $350.00 (Associate/Solicitor of firm) plus GST. We reserve the right to periodically review our charge out rates and any changes will take effect immediately. We require the sum of $500 up front on account of costs before we are able to undertake any work on your behalf. This money will be held in our Trust account on your behalf and not accessed by us until an invoice has been rendered to you. You can deposit this amount into Bay Legal Limited Trust Account, account number 06-0645-0395580-00.
We also charge for office expenses incurred which may include forms, tolls, local calls, postage, photocopying, file storage, mileage and other similar costs. On most files a sundry office expense will be added to cover these costs. Disbursements are charged separately, these are third party expenses such as registration, searches, courier fees and legal research (performed by NZLS) incurred in relation to the work required on your behalf.
It is our policy to render regular accounts which are due within 14 days of the date on the account. Our letter of engagement also serves as an Authority to us to deduct our fees and costs from any funds held by you where work has been undertaken to the value of the fees and costs.
If the engagement letter specifies a fixed fee, we will charge this for the agreed scope of our services. Work which falls outside that scope will be charged on an hourly rate basis. We will advise you as soon as reasonably practicable if it becomes necessary for us to provide services outside the agreed scope and, if requested, give you an estimate of the likely amount of the further costs.
Payment:
Invoices are payable within 14 days of the date of the invoice, unless alternative arrangements have been made with us. We may require interest to be paid on any amount which is more than 7 days overdue. Any interest then charged will be charged at the rate of 12% per annum. If you do not pay our fees and disbursements as they fall due, you may be liable for our costs, expenses and charges that are incurred by us in collection of those fees. You authorise us to provide information on any amount owed to us which is overdue for payment, to credit agencies if required.
IRD Number
If the transaction is a property transaction, we are required to provide to Land Information New Zealand the IRD number of the person/entity that is buying or selling the property, unless you have confirmed with us that you qualify for an exemption. It is your responsibility to obtain that IRD number and to provide it to us.
Client Care and Service:
The Law Society client care and service information is set out below. Whatever legal services your lawyer is providing, he or she must:
The obligations lawyers owe to clients are described in the Rules of Conduct and Client Care for Lawyers. Those obligations are subject to other overriding duties, including duties to the courts and to the justice system.
If you have any questions, please visit www.lawsociety.org.nz or call 0800 261 801.
File Retention/Electronic Storage
Our policy is to retain documents in electronic form. If you give us a paper document, or we receive one on your behalf, you authorise us to destroy it after making an electronic copy of that document. This does not apply to documents that we have agreed in writing to hold for you in safe keeping.
Professional Indemnity Insurance:
We hold professional indemnity insurance that meets or exceeds the minimum standards specified by the Law Society. We will provide you with particulars of the minimum standards upon request.
Lawyers' Fidelity Fund:
The Law Society maintains the Lawyers' Fidelity Fund for the purpose of providing clients of lawyers with protection against pecuniary loss arising from theft by lawyers. The maximum amount payable by the Fidelity Fund by way of compensation to an individual claimant is limited to $100,000. Except in certain circumstances specified in the Lawyers and Conveyancers Act 2006, the Fidelity Fund does not cover a client for any loss relating to money that a lawyer is instructed to invest on behalf of the client.
Complaints:
We maintain a procedure for handling any complaints by clients, designed to ensure that a complaint is dealt with promptly and fairly.
If you have a complaint about our services or charges, you may refer your complaint to the person in our firm who has overall responsibility for your work. If you do not wish to refer your complaint to that person, or you are not satisfied with that person’s response to your complaint, you may refer your complaint to another Partner of this firm.
The Law Society operates the Lawyers Complaints Service and you are able to make a complaint to that service. To do so, phone 0800 261 801 and you will be connected to the nearest Complaints Service Office, which can provide information and advice about making a complaint.
Fees:
The basis on which our fees will be calculated is determined on a range of factors applied by the New Zealand Law Society which include: time, expertise, importance, urgency and results achieved. The current hourly rate that will apply to the person primarily responsible for your file will be $415.00 (Partner of firm) or $250.00 - $350.00 (Associate/Solicitor of firm) plus GST. We reserve the right to periodically review our charge out rates and any changes will take effect immediately. We require the sum of $500 up front on account of costs before we are able to undertake any work on your behalf. This money will be held in our Trust account on your behalf and not accessed by us until an invoice has been rendered to you. You can deposit this amount into Bay Legal Limited Trust Account, account number 06-0645-0395580-00.
We also charge for office expenses incurred which may include forms, tolls, local calls, postage, photocopying, file storage, mileage and other similar costs. On most files a sundry office expense will be added to cover these costs. Disbursements are charged separately, these are third party expenses such as registration, searches, courier fees and legal research (performed by NZLS) incurred in relation to the work required on your behalf.
It is our policy to render regular accounts which are due within 14 days of the date on the account. Our letter of engagement also serves as an Authority to us to deduct our fees and costs from any funds held by you where work has been undertaken to the value of the fees and costs.
If the engagement letter specifies a fixed fee, we will charge this for the agreed scope of our services. Work which falls outside that scope will be charged on an hourly rate basis. We will advise you as soon as reasonably practicable if it becomes necessary for us to provide services outside the agreed scope and, if requested, give you an estimate of the likely amount of the further costs.
Payment:
Invoices are payable within 14 days of the date of the invoice, unless alternative arrangements have been made with us. We may require interest to be paid on any amount which is more than 7 days overdue. Any interest then charged will be charged at the rate of 12% per annum. If you do not pay our fees and disbursements as they fall due, you may be liable for our costs, expenses and charges that are incurred by us in collection of those fees. You authorise us to provide information on any amount owed to us which is overdue for payment, to credit agencies if required.
IRD Number
If the transaction is a property transaction, we are required to provide to Land Information New Zealand the IRD number of the person/entity that is buying or selling the property, unless you have confirmed with us that you qualify for an exemption. It is your responsibility to obtain that IRD number and to provide it to us.
Client Care and Service:
The Law Society client care and service information is set out below. Whatever legal services your lawyer is providing, he or she must:
- Act competently, in a timely way, and in accordance with instructions received and arrangements made.
- Protect and promote your interests and act for you free from compromising influences or loyalties.
- Discuss with you your objectives and how they should best be achieved.
- Provide you with information about the work to be done, who will do it and the way the services will be provided.
- Charge you a fee that is fair and reasonable and let you know how and when you will be billed.
- Give you clear information and advice.
- Protect your privacy and ensure appropriate confidentiality.
- Treat you fairly, respectfully and without discrimination.
- Keep you informed about the work being done and advise you when it is completed.
- Let you know how to make a complaint and deal with any complaint promptly and fairly.
The obligations lawyers owe to clients are described in the Rules of Conduct and Client Care for Lawyers. Those obligations are subject to other overriding duties, including duties to the courts and to the justice system.
If you have any questions, please visit www.lawsociety.org.nz or call 0800 261 801.
File Retention/Electronic Storage
Our policy is to retain documents in electronic form. If you give us a paper document, or we receive one on your behalf, you authorise us to destroy it after making an electronic copy of that document. This does not apply to documents that we have agreed in writing to hold for you in safe keeping.
Professional Indemnity Insurance:
We hold professional indemnity insurance that meets or exceeds the minimum standards specified by the Law Society. We will provide you with particulars of the minimum standards upon request.
Lawyers' Fidelity Fund:
The Law Society maintains the Lawyers' Fidelity Fund for the purpose of providing clients of lawyers with protection against pecuniary loss arising from theft by lawyers. The maximum amount payable by the Fidelity Fund by way of compensation to an individual claimant is limited to $100,000. Except in certain circumstances specified in the Lawyers and Conveyancers Act 2006, the Fidelity Fund does not cover a client for any loss relating to money that a lawyer is instructed to invest on behalf of the client.
Complaints:
We maintain a procedure for handling any complaints by clients, designed to ensure that a complaint is dealt with promptly and fairly.
If you have a complaint about our services or charges, you may refer your complaint to the person in our firm who has overall responsibility for your work. If you do not wish to refer your complaint to that person, or you are not satisfied with that person’s response to your complaint, you may refer your complaint to another Partner of this firm.
The Law Society operates the Lawyers Complaints Service and you are able to make a complaint to that service. To do so, phone 0800 261 801 and you will be connected to the nearest Complaints Service Office, which can provide information and advice about making a complaint.