AFAs Trending Down in U.S. and U.K.

, Corporate Counsel

   | 1 Comments

In a surprise finding, a three-year climb in the use of alternative fee arrangements to pay outside counsel has abated, according to a survey of in-house counsel.

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What's being said

  • R.Brzakala

    The downward shift in utilizing AFAs may be a result of market conditions over the past 5 years. As we are still making our way out of the great recession, many external law firms were on the receiving end of the AFA stick over the past few years, perhaps so much so that a drop in the utilization of AFAs may not necessarily be an indication of there being a lack in the confidence of how successful AFAs ultimately are, but simply that the legal market place has reached a saturation point where clients are getting what they want from the firms in terms of pricing concessions and predictability. Perhaps also, many AFAs may have a fixed term tied to the fixed pricing component which in effect eliminates the need to have to re-address an arrangement until a later date. We may just be seeing the ebb.

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