16 Ways to Avoid a Haircut, Post 8

more+
less-
more+
less-
Explore:  Attorney's Fees Fees

This is the final installment in an eight part series on how to resist price concession requests. Each two new tips will be posted each weekday for eight days.

When discounts are inevitable, reduce their impact using these tips.

15. Negotiate the contract term. Companies routinely request contract terms of two and, more frequently now, three years with terms and conditions expected to be locked in throughout the extended term. Ask for the contract term to be reduced to a one year term in order to allow for an appropriate learning curve and the experience in working together.
16. Negotiate discount escapes. Discounts are a reward for mutually beneficial working relationships. The moment the balance tips away from one party, the terms of the relationship necessarily should be reviewed. When bills are paid late, are suspended for what ends up being unwarranted review, paid partially or otherwise slow or obstruct cash flow to the law firm, the discount will be voided. The agreement should make it clear that certain reasonable or validated billing issues will not subject the company to the void of discounts, but other circumstances within the control of the company’s timely payment of bills will.

It goes without saying, if you would like to talk about training your lawyers in resisting pricing concessions, please give me a call. It costs nothing to talk.

Topics:  Attorney's Fees, Fees

Published In: Professional Practice Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Group Dewey Consulting | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »