The Flat Fee Is a One and Done
Video Transcribed: This is Danna Malone, paralegal to Medical Marijuana Attorney Isaiah Brydie, where we operate OK Cannabis Law Office. We help Oklahoma medical marijuana business. So if you have any problems, just give us a call. We’ll be glad to help.
Today’s video is on flat-fee versus retainer. A flat fee is just that. We tell you that we will do ABC, or A through Z, for this fee. Now, this fee does not include the filing fees, the application fees, the background checks. It doesn’t include any of those.
This is what you’re paying our firm to handle your business. So a retainer is you put X amount of dollars into a trust account, and we bill off of that X amount of dollars, and you are billed, or receive an invoice at the end of every month, at the beginning of every month, I’m not sure which, and you just pay that invoice. And you keep your retainer account, which is a trust account, at that X amount of dollars that have been agreed upon.
So with that being said, the flat fee, it’s a one and done. When work is done with everything that we’ve prescribed that we’re going to do, you have to come back and hire us to do the next thing.
So the retainer, we are on retainer, your renewals come up, we’re on top of it. So there’s some advantage. If you need, say, a contract review, you just call us, email it to us, and we will review it. You don’t have to go through the process of getting a quote or anything like that. We just continue working for you.
So again, the flat fee is a one and done, and the retainer is we continue our business relationship until you decide that either you don’t need us anymore, or … Well, that’s it. You just don’t need us anymore. And then we refund whatever money is in the trust account back to you.