N. Commercial Agreements
For the preparation of Commercial agreements including research, legal opinion drafting and engrossment or finalization, but excluding conferences with clients:
a) the fee shall be the same as hourly rates for each hour spent, or
b) the fees shall be based on a percentage of the consideration or lump sum involved in the agreement as follows:
i) Less than GH¢10,000, the fees shall not exceed 15% thereof;
ii) Over GH¢10,000, the fee shall not exceed 10% thereof;
iii) Over GH¢50,000 but less than GH¢150,000 the fee shall not exceed 7% thereof;
iv) Over GH¢150,000 but less than GH¢500,000 the fee shall not exceed 5% thereof;
The fees for any conveyance are based on value of the property being conveyed.
Where the value of the property is:
i) Up to GH¢20,000.00 - 15% maximum
ii) Over GH¢20,000.00 and up to GH¢100,000.00 - 15% for first GH¢20,000 and balance at 12% maximum
iii) Over GH¢100,000.00 and up to GH¢200,000.00 - 12% for first and balance at 10% maximum
iv) Over GH¢200,000.00 and up to GH¢500,000.00 - 10% for first GH¢200,000 and balance at 7.5% maximum
v) Over GH¢500,000.00 - 7.5% for first GH¢500,000 and balance at 5% maximum
R. Debt Recovery
Debt collection, as its name implies, involves the recovery of monies such as rent, contract payments and other debts for and on behalf of clients. This may be achieved in two main ways:
i. by correspondence, or
ii. by instituting legal action for the recovery of the debt or by acting on behalf of the debtor for any such action.
All expenses for the recovery of debts should be borne by the client.
a) Debt Collection by Correspondence
Where the amount involved is up to and includes:
I. GH¢25,000 – 10% maximum
II. GH¢100,000 – 10% for the first GH¢25,000 and balance at 7% maximum
III. GHS400,000 - 10% for first GH¢25,000, 7% for balance up to GH¢100,000 and remaining balance at 5% maximum
IV. Over GHS400,000 - 10% for first GH¢25,000, 7% for balance up to GH¢100,000, 5% for balance up to GH¢400,000 and remaining balance at 3% maximum
b) Debt Collection by Instituting Legal Action
Fees are provided for under brief fees [see Clause E(k) supra]
a) Simple wills (without any trust or limitation or dispositions) – GH¢3,000 maximum, or hourly rates will apply if the hours exceed GH¢3,000
b) Complicated wills – GH¢9,000 maximum, or hourly rates will apply if the hours exceed GH¢9,000
P. Probate and Letters of Administration (Non – Contentious) Value of Estate Fees to be charged
a) Up to GH¢100,000.00 GH¢7,000 maximum
b) Over GH¢100,000.00 GH¢7,000 for the first GH¢100,000 plus up to 5% for any additional value.
The preparation of Vesting
Assent and the Winding Up of an Estate should not be included as part of the matters relating to Probate and Letters of Administration
and must be treated as separate matters. The fees to be charged for Vesting Assent and Winding Up of an Estate shall be the same provided
that where the same lawyer was responsible for the Probate and Letters of Administration, the maximum fee for the Vesting Assent andWinding Up of an Estate shall not exceed 50% of the fees approved.
C. Retainer Fees
The law permits a lawyer to accept retainer for advice. However a lawyer shall be separately instructed and separately remunerated by fees for each piece of work done, and shall not undertake to represent any person, authority or corporation in all their court work for a fixed annual salary. The minimum rate for retainer may be GH¢4,000.00 per month depending on the scope of work contained in the retainer provided that the clients shall be entitled to free consultation in addition to a discount of up to twenty percent (20%) for other legal services.
K. Tenancy Agreement
Fee for tenancy agreements shall be based on the yearly rent and other considerations involved.
Where the yearly rent or other consideration involved is:
i) Up to GH¢20,000 per annum - 15% maximum
ii) Over GH¢20,000 and up to GH¢50,000 - GH¢3,000 plus 10% maximum per annum
iii) Over GH¢50,000 and up to GH¢100,000- GH¢3,000 plus 7.5% maximum per annum
iv) Over GH¢100,000 per annum - GH¢3,000 plus 5% maximumAlternatively, where practicable, Counsel may charge one month’s rent as legal fees..ee for tenancy agreements shall be based on the yearly rent and other consideration involved.