WEALTH RECOVERY SOLICITORS LIMITED
Terms and conditions
1.1 Wealth Recovery Solicitors is the trading name of Wealth Recovery Solicitors Limited. 1.2 The legal services that Wealth Recovery Solicitors Limited provides are regulated and authorised by the Bar Standards Board. Our registration number with the Bar Standards Board is ER185624. These terms and conditions are set out to comply with certain standards recommended by the Bar Standards Board and the Law Society. Their other purpose is to indicate to clients as clearly as possible the standard of service that they can expect from us, the amounts that we will charge for the work that we do and our methods of charging.
1.3 These terms and conditions do not affect statutory and common law rules that govern solicitors’ business. However, if there is a conflict between the terms and conditions and such rules, the terms and conditions will prevail so far as it is possible for them to do so.
1.4 When the words ‘we’ and ‘us’ are used in these terms and conditions, they mean Wealth Recovery Solicitors Limited. This company is registered in England and Wales. Its registration number is 11325165 and the registered office is situated at 36 John Dalton St, Manchester, M2 6LE.
1.5 These terms and conditions, any letter that we may send you confirming your instructions to us and any document referred to in that letter, together represent the terms and conditions of business on which we contract with you.
2. Service standards
The following points indicate our general policy as to how to we will provide legal services in relation to the matter for which you have instructed us. More specific aims are outlined in ‘Our Service Standards’ document.
2.1 Use of plain English: Our aim is to use plain, straightforward and non-technical language in our written and verbal communications. If documents and communications from other persons or organisations are not expressed in this type of language, we will clearly explain the meaning as far as it is reasonably possible to do so.
2.2 Keeping you informed of what is happening: On a regular basis we will let you know what is happening with your matter.
2.3 Explaining what we are doing for you: We will let you know what legal and other work we are carrying out for you as your matter advances. We may do this in writing, by telephone or by email. 2.4 Costs information: We will let you know on a regular basis what your matter is costing you. If we are charging on a fixed fee basis, we will inform you as soon as it becomes apparent that the work we need to do is outside the scope of work to be carried out. If we have provided an estimate as to the amount of work involved, we will inform you as soon as it becomes apparent that the estimate will be exceeded and why or the amount of time required to perform the work exceeds what we estimated and the reasons for this.
2.5 Timescales: We will provide you with information about how long each stage of the work that we are carrying out on your behalf is likely to take. We will also let you know whether there are or likely to be any significant changes to timings that we have given.
2.6 Informing you about the risks and benefits of your matter: We will let you know whether the results that you are seeking or the goals that you wish to achieve are worth pursuing set against the amount that you will need to spend on legal fees (including our fees), other costs and any risks that you might face. We will keep you informed where there is a significant change in circumstances.
2.7 Ways of funding your matter: From time to time we will examine whether there are sources of funds to pay for the legal costs (and other costs) that must be paid to deal with your matter.
3. Responsibility for work carried out on your behalf
3.1 The person(s) who will carry out all or the majority of the work on your matter is or are shown on the letter that accompanies these terms and conditions.
3.2 In certain circumstances, it may be appropriate for some work to be carried out by other members of staff, such as paralegal, secretarial or support staff. This allows us to provide a more efficient service to you and also to charge you the appropriate amount for the work done. All work by such staff is performed under the supervision of a solicitor.
4. Charges and expenses
4.1 How we charge
We charge for the work we do in a number of ways:
4.1.1 you pay us a fixed amount;
4.1.2 we provide an estimate of the likely amount of our fees;
4.1.3 our fees are based on the amount of time we spend in dealing with your matter. Our method of charging in your case is specified in the letter which accompanies these terms and conditions.
4.2 Fixed fee arrangements
4.2.1 Where we agree to charge you a fixed fee, you must usually pay that fee regardless of whether your matter proceeds as expected or envisaged, or whether you achieve the result or objective that you wish. For example, if you are asking us to help you buy a property but the proposed transaction does not complete (because the other side in the transaction does not sign the contract or you fail to obtain the funds to purchase the property), you must still pay us the fixed fee.
4.2.2 If we agree to work for a fixed fee, we make a number of assumptions or we specify the work that we will or will not do. Where the assumptions are no longer met or we need to do work outside the scope of that specified, it will be necessary to charge you more. We will then agree with you to charge either a further fixed fee or on a time basis (as described in paragraph 4.4 below); otherwise, the retainer will be terminated.
4.2.3 The assumptions that we make or the work that we specify we will do are set out in the letter which accompanies these terms and conditions (or in another document which is referred to in the letter).
4.3 Estimated cost arrangements
4.3.1 Where we provide an estimate for our fees, the estimate is normally based on our view of the amount of work that is necessary to deal with a matter. We will make certain assumptions for this purpose. The covering letter which accompanies these terms and conditions will set out the relevant assumptions where we are charging an estimated amount.
4.3.2 If the assumptions change or the estimated amount that we are charging is no longer realistic, we will inform you straightaway and discuss what the next steps will be. We will then agree with you to charge either a further fixed fee or on a time basis (as described in paragraph 4.4 below); otherwise, the retainer will be terminated.
4.4 Fees based on the amount of time we spend in dealing with your matter 4.4.1 Where it has been agreed that we will charge you based on the time that we spend in dealing with your matter, our rates are provided in our client care letter to you..
4.4.2 Routine letters or emails that we write and routine telephone calls that we make and receive are charged as units of 1/10th of an hour. Other letters, emails and telephone calls are charged depending on the length of time that they take.
4.4.3 On 1 September each year, we review our hourly rates. We will let you know the new rates. 4.4.4 In addition to the time that we spend, we take into account various other factors including the complexity of the issues involved in the matter, the speed at which action must be taken, the expertise or specialist knowledge that the matter requires and, if appropriate, the value of the property or subject matter involved. Our rates may be adjusted upwards if, for example, the matter becomes more complex than expected or must be carried out in an emergency or out of hours. In these circumstances, the increased rate will not exceed 10% above the usual hourly rate. 4.4.5 If you require more information or have a concern about our rates after an annual review, please do not hesitate to contact us.
We add VAT to our charges at the rate that applies when we carry out the work. Currently this is 20%. Our VAT registration number is 322119739.
You must also pay for the expenses associated with your case (commonly called ‘disbursements’). These include photocopying charges, courier costs, travel expenses, overseas telephone calls and the costs of using the services of other professionals and persons (such as surveyors, accountants, advocates and other agents). Also payable may be fees to central and local government, regulatory and other bodies (such as court fees, search fees, company searches and so on), charges to transfer funds by electronic or other means and banker’s drafts. VAT is normally payable on these items. As we are regulated by the Bar Standards Boars, we cannot hold client monies on account or make payments on your behalf in
respect of disbursements. We may ask you to open an account with a third party payment service and pay the monies for the disbursement in advance.
4.7 Additional work
If we need to carry out some unforeseen additional work, we will let you know about this (normally before we carry it out) and provide you with an estimate of the cost. This situation can arise because of unexpected difficulties, a change in your requirements or a change in circumstances during the course of the matter (such an unexpected action or inaction by the other party or parties involved in the matter).
4.8 Matter not concluded
If your matter is not concluded, we will still charge for the time that we have spent and the disbursements and expenses that we have incurred on your behalf. You must still pay our charges and expenses.
4.9 Money on account
We do not operate a client account and cannot ask you to pay us in advance. We may ask you to open a client account with Shieldpay and ask you to pay certain sums in advance into your Shieldpay account prior to us carrying out work and incurring expenses on your behalf. 4.10 How we deal with payments of our invoices
4.10.1 You can pay our invoices by cheque or by making an electronic payment. 4.10.2 If you make any cash payment directly into our bank account, we may have to carry out investigations to determine the source of the funds. If this is the case, we may decide to charge you for carrying out the investigations.
4.10.3 If we need to make any payments to you, we will only do so by writing a cheque in your name or sending the money directly to a bank or building society in your name. We will not make payments to third parties or in cash (whether to you or a third party).