When assessing legal costs on the standard basis, the term “reasonable legal costs” refers to the costs incurred by the winning party that are both justified and proportionate in relation to the work done and the complexity of the case.
What Is a Contingency? A contingency is a potential occurrence of a negative event in the future, such as an economic recession, natural disaster, fraudulent activity, terrorist attack, or a pandemic.
Essentially, the consulting rate is calculated by taking your current rate and multiplying it by 2 or 3. An hourly rate of $35, for example, means that your consultancy rate should be $70 or $105.
Consultants typically set their business consultant fees one of three ways: Hourly rates. Project-based fees. Monthly retainers. Your knowledge and experience. Industry standards. The estimated time you'll spend on the project. Your overhead costs. Project size and complexity.