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Billing and Fees 2009

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Firm
Award level
Innovation
Originality
Rationale
Impact
Total
Description
ShoosmithsStandoutRisk and reward sharing with clients77822Working with client Hewlett Packard, the firm has adopted a special fee structure under which it is rewarded if it comes under budget and penalised if it is over. HP has halved its external legal spending
Crowell & MoringStandoutComprehensive alternative fee arrangements68822More than half the firm’s revenue comes from alternative fee arrangements. Clients felt the end-of-year value-grading exercise demonstrated the firm’s commitment to departing from hourly billing
Tuca Zbarcea & AsociatiiStandoutRisk-sharing with banking clients87621Deferring its own fee payments, the firm has become party to the banks’ loan portfolio risk. It has also encouraged banking clients to support struggling borrowers
LinklatersStandoutGlobal pricing77620The only firm to have a team dedicated to advising and implementing a global pricing strategy, which allows it to offer a diverse menu of options to clients
CMS Cameron McKennaStandoutChanging the hourly billing culture88420A long-term internal education scheme to alter the ethos of the firm and break down ingrained opposition to alternative fee structures
Berwin Leighton PaisnerStandoutLoyalty card scheme76720Clients can accrue notional points in the firm’s value account scheme. Points can be spent on secondments or free access to information systems
Clifford ChanceHighly commendedQuantifying value-added services76619Reports assign a monetary value to the free work that large firms do such as secondments, helplines and updates as well as measuring the value of any business referrals. Considered an important benchmarking tool by its clients
Tuca Zbarcea & AsociatiiHighly commendedFixing fees in time of currency fluctuations67518As part of the firm’s strategy to share risks, it shielded key clients from volatility in the exchange rate between the Romanian lei and the euro
Portolano Cavallo Studio LegaleCommendedReal-time billing and alternative fee arrangements57517Leading the way in billing in the Italian legal market. The firm updates clients every 24 hours and uses a value-added approach where possible
EvershedsCommendedEnabling HSBC to pursue large numbers of debtors56617Using a contingency fee structure, the firm works with HSBC’s distressed debt team in Calcutta, India, to assess claims for viability and then pursues those claims for little or no cost until point of recovery
Allen & OveryCommendedReduced pricing for hospital finance66517The firm “smoothed out” fees across low-cost private finance initiatives, using smart resourcing and a long-term view
AshurstCommendedMeasuring the firm’s free value-added services66416Working with the hourly rate, Ashurst has developed systems to account for the work they do free of charge for clients. Still in its early stages
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