SCHEDULE OF CHARGING - 1. GENERAL

1. UNIT CHARGES ("U")

Any item may be charged according to the number of units. Time spent charged in units is on the basis that 1 unit is equivalent to 6 minutes. The value of the unit reflects the hourly rate which may be adjusted by reference to the circumstances. A list of detailed charges in units is contained in Part 3.



2. ACCORDING TO CIRCUMSTANCES CHARGING

Any item of business, or a whole account, may be charged according to circumstances Any item of business charged by that method or by reference to units will aim to be a sum which is fair and reasonable both to us and to you, taking into consideration the following factors where relevant:

  1. The importance of the matter to you;
  2. The amount or value of any money or property involved;
  3. The complexity of the matter or the difficulty or novelty of the question raised;
  4. The skill, labour, specialised knowledge and responsibility involved on our part;
  5. The time expended;
  6. The length, number and importance of any documents or other papers prepared or perused;
  7. The place where and the circumstances on which the services or any part thereof are rendered, including the degree of expedition required.


3. APPLYING FACTORS REFERRED TO ABOVE

  1. Where time expended is the dominant factor the total time expended will be totalled and multiplied by the hourly rate;

  2. A percentage of the amount or value of the money or property involved may be added in order to compensate for the risk or indemnity element in carrying out the work. An appropriate percentage may be 0.50% of the first £100,000 with lower percentages of higher amounts;

  3. The value of the money or property involved may be the dominant factor particularly in a conveyancing transaction or an executry. The sum charged will aim to be reasonably proportionate to the value of property involved.

4. APPLYING FACTORS REFERRED TO ABOVE

In a case where the fee is agreed in writing in advance, it will not be subject to obligatory taxation. Such an agreement is required for a speculative case with After The Event Insurance.



5. VALUE OF TRANSACTION

Where the value of the transaction is the dominant factor, the value will be taken to be either the amount stated in the writ or calculated as follows:



(A)

  • Where, before an executed writ has been delivered, the parties to it have made a contract for the development of the subjects and the value of that contract is not reflected in the price or consideration shown in the writ, the "value" shall be the total of the price or consideration shown in the writ plus the value of the development contract.

  • Where before an executed writ has been delivered, the purchaser has, through us, made a contract with a third party for the development of the subjects, the value shall be the total of the price or consideration shown in the writ plus the value of the contract.

  • (B)
    If the consideration is termly or periodic payment the value shall be the capitalised value, i.e. in leases or similar contracts, the total sum exigible under the whole contract or during the first 10 years, whichever is the lesser. Where the right of a landlord to recover possession is restricted by statute, the period of the lease shall be taken to be 10 years.


    (C)
    Where no price or consideration is stated, the value of the subject matter will be calculated according to the best evidence available. (e.g. stamp duty value, stamp duty value in any transaction within the last 3 years, last price at which property valued in the last 3 years, survey report, etc.)


    (D)
    Where in a purchase from a local or national government body or agency the price is discounted, the gross value before discount shall be the value.



    6. REVISING FEE

    Where deeds are revised by us, the fee will be one half of the drawing fee otherwise specified in this schedule.



    7. PARTIES HAVING DISTINCT INTERESTS

    Where we properly act for more than one party in any matter or business in which several parties have distinct interests, we will charge against each party in respect of our professional responsibility for each distinct interest.



    8. POSTS & INCIDENTS

    This charge will cover posts, telephone and fax calls and minor outlays. It will not normally exceed 5%. If a courier or other specialised delivery service is used, their fee may be charged as an outlay.



    9. UNCOMPLETED MATTERS

    Where we have acted in any matter which has not been completed by us, we will charge for the work which has been done.