Flexible Fee Arrangements & Long Term Client Relationships
Honest – Transparent – No Hidden Costs
Acumum is an award winning boutique set of legal, tax, fiduciary and accounting firms, located in the tax and fiscal efficient European jurisdiction of Malta. Believing in long-term relationships, we provide holistic, sustainable and practical solutions to clients, whilst being committed to a superb level of client service and flexible legal fees.
We are lean. Like any other successful business, especially in these lean times, we have ‘cut out the fat’ by utilising technology and modern business practices, for instance, we do not pass on our own training costs of junior members, or expensive offices. As a lean service and advisory group, Acumum provides cost-efficient, flexible fee arrangements to our clients.
A senior member of staff will always be appointed as the manager of your matter. For cost control, we use junior members of staff – and always monitored by the senior member – for any work on your matter which we believe is junior or administrative in nature
Acumum Legal Fees
Legal fees, as well as fiduciary and accountancy costs will depend on the jurisdiction you are in, type, nature and work undertaken on your behalf.
- Fixed hourly fees– depending on the nature of the project
- Reduced fees with discretionary or success bonus – usually for long projects of unknown duration
- Declining hourly rate – again, usually for long projects of unknown duration
- Contingent fee – popularly known as ‘no win no fee’
- Shared savings from litigation management
- Equity – Start –Ups – we might agree to provide legal services, up to a certain amount, in exchange for equity in your company, or convert our deferred fees into equity, so long as the value of the equity is determined in an independent manner
Engagement Letters, Statements and Retainers
Once we both agree that we will work together, we shall send to you an engagement letter, setting out the work we will undertake on your behalf and the fees that we have agreed upon.
Acumum prides itself in having transparent relationships with our clients. We issue monthly statements detailing the fees and expenses that have incurred upon your account.
We may, in certain cases, require a retainer before commencing work. The retainer is an ‘up front’ payment which is applied as against any fees or costs we may incur upon your behalf. We don’t like costly surprises – neither should you.
Additional Fees – AKA – ‘Disbursements’
The additional costs we shall incur on your behalf are:
- Statutory or application costs, such as Government or legitimate, authorised organisational charges – for instance trademark applications
- Extra, requested or necessary charges – such as courier services.