Solicitors do not always understand the difference between an estimate and a budget, but it’s an important distinction, writes Jack Ridgway, chair of the Association of Costs Lawyers, in this week’s NLJ.
Ridgway, a senior costs lawyer at Bolt Burdon Kemp, explains the difference and its importance. Moreover, ‘costs can be reasonable but disproportionate’. He writes: ‘Unfortunately, when the court chose to replace costs estimates with budgets, they deprived the solicitor of the opportunity to kill two birds with one stone, instead creating two distinct stones.’
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