Financial and Legal Costs/Legal Fees
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Unit 4.8-Financial and Legal Costs |
Introduction | Bank Charges | Insurance Premiums | Export Credit Insurance | Legal Fees | Summary | Resources | Activities | Assessment |
Legal Fees
[edit | edit source]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