How do I quote a Custom Service if I am selling a block of time?
If the Client requires a block of time for legal research, negotiations, or any other matter, the title should describe what the time block is for, and how long it will require.
For example:
- Asset Purchase Negotiations (5 Hours)
- Legal Research re: Directors Obligations for Payment of Wages (3 Hours)
The title should be descriptive enough that the Client understands what is being done, and how long it will take.
Additional comments and information can be included in the “Line-item description.”
What if I don’t know how long the Custom Service will take?
Sometimes, there will be contingencies outside of your control that will not allow you to accurately predict how long a Service will take to complete.
These situations typically emerge with more complex files that involve many moving parts (e.g., Asset Purchase involving negotiations). In those cases, any contingencies to the Quote should be discussed with the Client upfront.
For example, if your matter involves negotiations, let your Client know how long you expect them to take (and what will be included in the quote), but if they go beyond that time, you will need to bill them for that additional time.
Therefore, it is critical to include a detailed description of the Service when delivering a quote to the Client. If these contingencies are discussed beforehand, the Client will likely be much more receptive to any other fees if the circumstances arise.
These contingencies should only arise if the matter is not entirely within your control (i.e., it involves some third-party interaction beyond your control), then a flat rate Custom Quote is required and expected to be honoured.