Setting up the Capped price pricing scheme

Use the Capped price pricing scheme to bill a matter for the actual value of the time written on it, but never more than a fixed cap. This article explains how the scheme works and how to set up the price template it uses to calculate the value below the cap.

How Capped price works

When you select the Capped price scheme on a matter, Legalsense asks you to set a Scheme below cap.

Matter pricing scheme selection, showing the Capped price scheme with the Scheme below cap field to fill in.

With Capped price, Legalsense never bills more than the cap you set. If the value of the time written on the matter is lower than the cap, Legalsense bills that lower, actual value instead, using the Scheme below cap to calculate it.

Set up the price template for the scheme below cap

See the article ↪ Price templates for how to configure a new price template.

The new price template is now available to select under Scheme below cap on a matter using the Capped price scheme.