Thursday, April 26, 2007

Protective Billing Practices for Expert Witnesses

One comment in response to my post about experts discounting their fees I think could be helpful to many of you.
"We have adopted policies to protect ourselves against being abused at the end of cases.

* Nonrefundable portion of retainer. Experiences where the mention of our being hired facilitated settlement and suggestions that we shouldn't earn a fee because we did no work caused this one.
* Apply the retainer to the last bill.
* Must be current at important milestones, e.g., prior to deposition or trial testimony or issuance of final reports.
* Regular billing. This not only avoids surprises, but starts the clock running on a/r.

Nothing new in the above, but simple things like staying on top of billing, and exercising leverage when one has it (prior to something happening that the lawyers want)."

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