In accordance with the professional rules and guidance which apply to solicitors in England and Wales, when we are instructed by a new client we will at the outset send a formal letter of engagement which contains information about fees, other terms of business and professional information. The main parts of these terms include:

• Our fees will be calculated mainly by reference to the time spent on a particular matter by relevant fee earners;
• Our charge rates vary, depending on the seniority of the staff or partners involved, and can be supplied on request;
• Our charges are reviewed periodically, normally in December each year;
• In addition to the time spent in assessing charges, we are also entitled to take into account certain other factors, including the complexity of the case, any specialist knowledge involved and the importance of the matter to the client;
• We would be pleased to provide an estimate of fees upon request;
• We make a charge in addition for out of pocket disbursements and other similar items, details of which will be supplied on request;
• We may require a payment on account of fees or disbursements;
• VAT will be applied to our charges where relevant;
• We are flexible on billing arrangements and normally able to agree billing cycles which suit the client's needs. Normally, we will issue periodic bills if a matter continues for a month or more but in any event our bills fall for settlement at completion of a transaction;
• Our bills are due for settlement on presentation: interest will accrue on bills not paid within 30 days of presentation.

A copy of our full terms of engagement can be sent on request. For any enquiries about our charges please refer to simonoutten@steeleraymond.co.uk.