Terms & Conditions

Client Recital.  Your law office/firm is our client (“COUNSEL”).  We look solely to you for timely payment in full irrespective of judicial outcome or receipt of funds from your client in your case.

Retainer.  For damages analysis in matters of personal injury, wrongful death, or wrongful termination, or for valuation appraisals of a Family Limited Partnership, a non-refundable retainer of $850 is required before work begins on your case. This retainer is applied to the analysis fees.

Analysis Fees.  For use in court filings, Lost Compensation (“LC”) charges a flat fee of $1,695 in assessing economic damages in matters of personal injury, wrongful death, and wrongful termination.  For valuation appraisals of Family Limited Partnerships, each valuation is billed at a flat-rate of $3,895.

For use in non-court filings, such as mediation and settlement purposes, LC charges a flat fee of $850 in assessing economic damages in matters of personal injury, wrongful death, and wrongful termination. In the case where LC has been retained for a non-court filing and is subsequently asked to prepare a court filing of the same analysis, LC charges the remaining flat fee of $845.

Testimony.  As instructed by COUNSEL, our economists will appear at deposition and/or trial to provide testimony.  Testimony is billed at an hourly rate of $250 and will include some amount of preparatory time.  Billable time includes time spent traveling to and from the deposition or trial, waiting to provide testimony, and/or actually providing testimony, subject to a daily maximum of $2,500.  Advance payment of a testimony retainer, separate and distinct from any previous retainer paid, in the amount of $2,500 is required prior to each instance of travel, to be applied toward the balance on the next billing statement.  COUNSEL will also be billed for travel expenses, as detailed in “Expenses” below.

Expenses.  Reasonable and customary travel expenses, such as airfare, lodging, and/or car rentals, are billed to COUNSEL at cost.  LC strives to find economical arrangements.  Prior to travel, a cost estimate will be provided to you for your review.  Please keep in mind that this is an estimate.  COUNSEL agrees to pay LC for travel expenses actually incurred, even if they exceed the estimate provided.  LC encourages COUNSEL to schedule depositions with sufficient notice as to minimize travel expense.

Billing and Payment.  For economic analysis in matters of personal injury, wrongful death, or wrongful termination, or for the valuation of a Family Limited Partnership, you will be billed upon commencement of work (i.e., flat-rate price).  Payment is due in full prior to delivery of the report or letter, or within thirty (30) days of the statement date, whichever comes first.

Advance payment of a retainer for testimonial services is required, as discussed in “Testimony” above.  COUNSEL will be billed for travel expenses at cost, as discussed in “Expenses” above.

Interest and compounding.  Payment is due no later than thirty (30) days of the statement date.  If payment is received after thirty (30) days, interest will accrue at the rate of 12 percent per annum, compounded daily retroactive to the statement date.  This has the effect of being “30 days, same as cash” provided payment is received within thirty (30) days of the statement date.

Payment means.  We accept VISA, MasterCard, money order, and business check.

Independence of opinion.  COUNSEL acknowledges that LC has been retained to provide independent expert opinion without advance expectation of any specific amount of economic damages or valuation.  Moreover, LC provides said opinion with the expectation of receiving payment for services rendered regardless of judicial outcome.