Keystone Engagement Letter

Sending an Engagement Letter is important for a number of reasons:

It is the best way to tell the client what you'll do, by when and at what cost. You use it to set client expectations. Once you meet or exceed them, the client will be delighted and repeat instructions will flow.
It is an excellent way to manage a client's expectations and head off potential problems.
It is the contract between the client and the firm and sets out what we are instructed to do.
It is an important regulatory and firm requirement.
It's almost impossible to get paid without one.

The Engagement Letter together with our standard Terms of Engagement (annexed to it) ensure that we comply with relevant provisions of the Code. You should use the Issue an Engagement Letter' document assembly tool in Keyed-In to draft the Engagement Letter. This time-saving device ensures all the normal areas are addressed. You can download the draft letter and review it. Please consider the drop-down menu and ensure that you select the correct engagement letter for your requirements and practice area e.g. for a dispute, you should select the litigation engagement letter. If you are happy with the assembled Engagement Letter, then you can use Keyed-In to send it out for electronic execution. If so, the Clients Team automatically receive a copy. If you'd like to change the letter or to send out the letter personally, then you need to make sure that you provide a copy of the final version to the Clients Team by email.

Our standard Terms of Engagement must never be amended without specific written authorisation from the Director of Operations and Compliance, though you are welcome to amend the front end. Should you wish to deviate from the standard Terms of Engagement (and once you have authority to do so), then any amendments need to be documented in the Engagement Letter. Do not amend the standard Terms of Engagement directly.

An Engagement Letter must be sent to each new client before work on each new matter starts. The Engagement Letter should record the scope (and exclusions) of the firm's instructions. We are expressly required by the Code to set out the client's requirements and objectives as comprehensively as possible. Anticipated costs (excluding VAT which our Terms of Engagement make clear is additional where applicable) should be detailed as accurately as possible. Failure to do so may be a breach of the Code and result in an Invoice being uncollectable.

When drafting an Engagement Letter, it is more efficient (but not a strict requirement) to start the client or matter set-up process by setting the client up in Keyed-In and then creating the Engagement Letter. When starting an Engagement Letter, don't forget to do a Conflict Check first. Do not store a template Engagement Letter on your computer for future use as they are regularly updated to reflect regulatory and procedural changes; instead, create the requisite letter afresh through Keyed-In.