Financial and Legal Costs/Legal Fees

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Globe for WikiEducator.jpg Unit 4.8-Financial and Legal Costs 

Introduction | Bank Charges | Insurance Premiums | Export Credit Insurance | Legal Fees | Summary | Resources | Activities | Assessment

Legal Fees

Legal fees are usually established on an hourly-basis with an attorney or as a percentage of the transaction. Attorneys may charge $200 to $800 per hour or more, depending on the circumstances of the transaction, the county laws involved, and the complexity of the case.

Areas where a risk manager might need support of either in-house or specialized legal advice include the following:

  • preparation of documents
  • collection of bad debts
  • mergers and due diligence
  • bankruptcy/litigation
  • contract preparation
  • loan analysis
  • negotiating and preparing of promissory notes that replace late accounts receivable