These summaries were prepared by McGuireWoods LLP lawyer Thomas E. Spahn. They are based on the letter opinions issued by the Virginia State Bar. Any editorial comments reflect Mr. Spahn's current personal views, and not the opinions of the Virginia State Bar, McGuireWoods or its clients. 
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8-Bills and Fees

A lawyer may charge interest on unpaid cost and expense balances as long as: the costs and expenses are reasonable and adequately explained to the client; the lawyer and the client agreed to the interest arrangement before the interest is imposed; any deferment of payment is for the client's convenience; the interest rate complies with state law; and the client may prepay the balance without penalty.

Copyright 2000, Thomas E. Spahn