Australian bank stamps out hourly billing

An Australian bank general counsel has spoken out in favour of long-term relationships.

Australia: Banks review value-based billing Jiri Flogel

Only law firms using value-based billing will be offered work at Bendigo and Adelaide Bank, the head of legal says. Maria Polczynski told Lawyers Weekly that hourly billing was not best practice. She and  her 13 strong department have been encouraging their firms to innovate. She said the bank focused on relationships rather than price and valued firms which had worked with the bank for a long time. The legal department began reviewing pricing methods in 2012 and removed hourly billing from all terms of engagement in 2014. Source: Lawyers Weekly

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