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Article: Bafakih embraces alternative billing with yearly subscription strategy.
- Article from:
- The Lawyer
- Article date:
- September 28, 2009
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Saudi Arabian firm Bafakih & Nassief is introducing alternative billing structures by offering its clients unlimited advice in return for a one- off annual fee.
The Jeddah-based firm, which also has offices in Medina and the Saudi capital Riyadh, is including the annual retainer option as part of a menu of fees, which includes hourly billing rates, contingency fees and risk-sharing arrangements.
The news comes after The Lawyer reported (21 September) that UK in- house counsel are putting increasing pressure on private practice firms to offer substantial discounts on rates.
The biggest impact has been on magic circle partner headline rates, ...