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Challenge Your Bank & Legal Fees

Posted 23 February 2016 | Feed Icon | 0 Comments

All companies at certain points in time procure banking, legal and mortgage & business finance services. But the challenge, particularly for small and medium sized companies, is to find a trusted service provider that will deliver genuine value for money and high levels of service over time. This is why many companies stick doggedly with one provider over many years, not testing periodically whether there are more competitive alternatives in the marketplace.

BSA Buying Group recognises these issues, and has therefore developed a solution using its buying power coupled with its expertise in supply selection, tendering and ongoing performance management skills. You can be reassured that as a member of BSA Buying Group you can access highly capable service providers through our independent partner expertise. And we won't let complacency and 'fee creep' set in.

Banking advice and re-negotiation

We understand how critical it is for your business to have a good relationship with its bank. You typically don't need to change bank to improve this relationship still further. But this requires clear, strong and informed handling. It's a balance which our independent banking advisors can support you with.

It's surprising how often companies don't review their banking arrangements. It's perceived to be too difficult to change. But did you know that in many cases bank charges can be challenged and switching bank can save significant sums of money? Don't let the banks get away with charging higher fees - seek an independent review as it could be worth thousands of pounds of savings each year.

Our advisory partners also have a comprehensive benchmarking database of banking arrangements and costings, of real value when negotiating with the banks.

Fees are flexible and can be based on either an hourly rate or contingent on a share of the benefits received, or a combination of the two approaches, depending on your preference.

So whether you're seeking to tender out your banking requirements, re-negotiating your interest charges or wanting to resolve a dispute with your bank, joining BSA Buying Group is the best first step.

Legal firm selection and cost management

Our legal cost specialist partners, who are regulated and insured, cover all areas of civil costs and some criminal costs matters, from the smallest sums to complex multi-million pound disputes. They provide the following services:

1. Advising at the outset

If you are considering instructing solicitors, we will help to ensure your business doesn't pay over the odds. We advise on whether proposed fees are reasonable and on the terms of the solicitors' retainer. We also offer advice regarding different funding methods and assist in exploring litigation funding and insurance options where appropriate.

2. Advising during litigation

If you are concerned about mounting and unexpected legal costs, or if you are unclear about your costs liability, it is crucial to seek advice quickly. We will advise as to the reasonableness of the costs and also assist in negotiating and resolving disputes with solicitors regarding costs.

3. At conclusion of the litigation

If you have reached the conclusion of litigation and are faced with an enormous liability for legal costs - quite possibly both your own solicitors' costs and/or your opponent's costs, it might feel as though the horse has bolted. We can help. We save our clients an average of 40% of the costs claimed against them.

3. Arbitration

If you have a dispute with your solicitors or with an opponent in litigation regarding legal costs, we offer an independent arbitration service to assist in achieving resolution.

by M Roper | 23 February 2016

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