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LEGAL PROFESSION UNIFORM LAW (NSW) - SECT 195
Interest on unpaid legal costs
195 Interest on unpaid legal costs
(1) A law practice may charge interest on unpaid legal costs in accordance
with the applicable terms of a costs agreement.
(2) To the extent that the
applicable terms of a costs agreement do not deal with the charging of
interest, a law practice may charge interest on unpaid legal costs if the
costs are unpaid 30 days or more after the law practice has given a bill for
the costs in accordance with this Part.
(3) A law practice must not charge
interest under this section on unpaid legal costs unless the bill for those
costs contains a statement that interest is payable and of the rate of
interest.
(4) A law practice must not charge interest under this section or
under a costs agreement at a rate that exceeds the rate specified in or
determined under the Uniform Rules for the purposes of this section.
(5) A
law practice must not charge interest under this section or under a costs
agreement on a bill given more than 6 months after the completion of the
matter.
(6) Subsection (5) does not apply where-- (a) the law practice has
provided a lump sum bill within the 6-month period after completion, but the
client or an associated third party payer requests an itemised bill outside of
the 6-month period; or
(b) a bill has not been issued within the 6-month
period (or an earlier bill has been issued but withdrawn) at the request of
the client or associated third party payer.
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