The Firm's fees will be calculated by reference to the time spent by and the hourly rate of the Director, professional staff or administrative assistants responsible for undertaking the work in relation to the matter. Our rates are revised from time to time. The current hourly rates (exclusive of GST) are $500 for Directors, $280 to $500 for senior professional staff, $150 to $260 for professional staff and $55 to $130 for administrative staff depending on the services provided. Please note that these rates are reviewed annually and are subject to change. Charge out rates vary according to the seniority of the person dealing with the matter, its complexity and the level of urgency required in the conduct of the particular matter.
Accounts are rendered on a regular basis, usually monthly. Accounts are due and payable from the date of the invoice. The firm may charge interest on any account which has been outstanding for more than 14 days. Such interest shall be at the current Macquarie Bank overdraft rate set daily on accounts less than $100,000.00 that shall apply from time to time and will accrue from the date of the invoice.
The Firm will generally require funds from you to cover disbursements before they are incurred by the firm on your behalf. Common disbursements are filing fees, search fees, expert report fees and courier fees.
The Firm reserves the right to request from time to time money on account of its fees likely to be incurred in the future conduct of the matter. Any funds on account shall be held by the firm on trust and applied upon rendering of accounts. Where a substantial amount is involved, you may instruct us to place the trust monies in an interest bearing account, which will be held with the Macquarie Bank in which case you have to furnish us with your tax file number and you shall be liable for tax on any income earned.
Property in all original documents, records, papers and other material created by the Firm in performance of instructions other than file notes is that of the Firm and does not pass until the matter is completed and all outstanding fees and disbursements have been paid. Copies of the documents are the property of the Firm.
The Firm reserves the right to cease acting in the matter and, if applicable, to withdraw from the Engagement as your adviser if:
(i) you do not comply with this agreement;
(ii) any request for funds to cover disbursements, other essential expenditure or fees on account is not complied with promptly;
(iii) adequate instructions or replies to correspondence are not forthcoming within a reasonable time;
(iv) any account for fees is not paid in accordance with these terms; or
(v) the firm perceives in its discretion that the necessary mutual relationship of trust and confidence required for a workable adviser/client relationship no longer exists.
You may terminate instructions to the firm at any time without giving any reason. The firm will render a final account and may exercise a lien over your papers until payment of all outstanding accounts in this instance and also in the case where we cease to act pursuant to clause 6 above.
The Firm is expressly authorised to apply in settlement or reduction of any outstanding fees or disbursements due to it by you, any moneys received or held on trust by it on your behalf.
You agree that these Terms and Conditions apply for the benefit of the Firm and continue to apply notwithstanding any change or alteration in the Firm at any time during the currency of your instructions and may be relied upon by the Firm, as it exists from time to time.
Any action taken by the firm prior to receipt of your signed copy of these terms of engagement and any money requested under paragraph 6, is to be regarded as a provisional acceptance of instructions only and the firm may cease to act at any time prior to such receipt.
