Billing Statement Requirements Clause Samples
The Billing Statement Requirements clause sets out the standards and expectations for how billing statements must be prepared and delivered. Typically, it specifies the information that must be included on each statement, such as itemized charges, due dates, and payment instructions, and may require statements to be sent within a certain timeframe after services are rendered. This clause ensures transparency and consistency in billing, helping both parties track payments and resolve discrepancies efficiently.
Billing Statement Requirements. All billing statements must contain the following information:
1. IRS taxpayer identification number of the firm or attorney.
2. Style of case or Matter description.
3. A remittance page with the monthly statement.
4. Dates of service and a detailed description of service. Vague descriptions, such as “review,” “update,” “attention to file,” “research,” and “trial preparation” without more specifics are not acceptable.
5. Name, classification (e.g., “partner.” “principal” “associate,” “legal assistant”), billing rate for the person doing the task, and specific time for service to a tenth of an hour.
6. Detailed listing of all expenses with supporting documentation for all third party and travel expenses.