A law firm can hire contract lawyers to work on its assignment through two different types of billing methods.
Hourly Rate - Law firms retain the services of contract lawyers who charge their work through an hourly rate. You will be asked to publish a reasonable estimate of the overall number of hours that the assignment should take. If the contract lawyer agrees, 50% of the "estimated" number of hours multiplied by the agreed-upon hourly rate shall be the amount that the law firm must deposit in Escrow to activate the assignment.
Flat Fee - Law firms retain the services of contract lawyers to execute an assignment and pay a specific gross amount to the lawyer for completing the assignment. This kind of billing method is recommended when there is an assignment with a defined result that needs to be achieved. In this kind of billing method, 50% of the agreed upon amount must be deposited into the Escrow account to activate the assignment.