Since invoicing procedures are at the core of client relationships, we place great emphasis on a transparent fee structure towards our clients. We always aim at providing a detailed and clear explanation of the work and hours performed by our lawyers. Upon request, we provide a detailed fee estimate for the work that needs to be performed prior to the start of an assignment. Further, our invoices are supported by a daily breakdown of time spent on each matter by each lawyer (indicating the nature of tasks carried out) and an indication of the client contact who requested the advice.
Lorenz usually issues invoices on a monthly basis. Alternatively, invoices can be issued at the end of the project or following certain milestones in the project. Upon request, we may furnish interim overviews on a weekly or fortnightly basis. We are also able to facilitate a system of threshold alerts, whereby billing levels for projects are monitored. If, for any reason, a project is close to reaching the pre-determined threshold level, we inform you accordingly, together with an explanation of the possible reasons why such threshold has been reached.
Lorenz is committed to charging competitive hourly rates. We can do this due to the lean structure of our firm. For specific assignments or projects, we are also open to alternative fee arrengements. We endeavour to provide our clients with good value for money.
Generally, Lorenz charges for its work on a time-spent basis.
Finally, we also endeavour to provide the most efficient level of experience for the type of work that needs to be performed. For example, our junior lawyers, directly monitored by our senior lawyers, work on those matters that require less technical and legal expertise, thereby allowing them to acquire the required know-how, whereas our senior lawyers are closely involved in relation to such matters that justify their technical and legal know-how and related hourly rates.