Minding Your Legal Business V: Legal Fees

Did you know that most legal services provided by attorneys-at-law are subject to a fee to be calculated based on a scale of fees agreed by the members of the Grenada Bar Association?
Once an attorney-at-law understands the scope of legal services you require, he or she should be able to provide you with a fee estimate of the following charges:

– His or her actual professional fees;

– Disbursements to cover items such as copies, cell phone calls and courier services; and

– Other disbursements such as taxes, filing fees, VAT, property transfer tax, stamp duty, other stamp charges, Registry filing fees, cost of Government forms, and process server’s charges.

The General Legal Council (“GLC”) set up under the Legal Profession Act has the power to approve/set rules to govern charging by attorneys-at-law. If the GLC sets or approves a scale of fees, an attorney-at-law would be required to justify charging a fee considerably more or considerably less than what the scale sets out.

For your curiosity, set out below is an extract from the Grenada Bar Association Scale of Fees agreed for use as a guide by attorneys-at-law who are members in the charging of professional fees for non-court matters:

 

 




 

 

Some common disbursements payable by clients in accessing legal services:

In obtaining a conveyance on sale:

(a) Stamp duty: 1% of the purchase price (by the buyer);
(b) Property transfer tax: 5% of the sale price above the first $20,000.00 (for Grenadian seller);
(c) Recording fees: $5.00;
(d) Stamps per witness affidavit: $1.50;
(e) Stamps on plan: $5.00; and
(f) VAT: 15% of fees.

In obtaining a deed of gift:

(a) Stamp duty: $7.50
(b) Property transfer tax: 5% above the first $150,000.00 of the value of the land being transferred;
(c) Recording fees: $5.00
(d) Stamps per witness affidavit: $1.50
(e) Stamps on plan: $5.00; and
(f) VAT: 15% of fees

In incorporating a company:

(a) Name reservation: $10.00
(b) Incorporation fee: $1,200.00
(c) Notice of secretary/by-laws: $2.00
(d) Seal: approximately $75.00
(e) VAT: 15% of fees

(The above reflects the views of the Grenada Bar Association)

Tagged , . Bookmark the permalink.

Comments are closed.