The client who instructs you at the last minute poses a greatly increased risk. Some firms have a policy not to accept last-minute instructions. You should not accept last-minute instructions without fully considering what is to be required of you, your ability to deliver it and the warnings in this section. If you are in any doubt you should discuss the matter with the General Counsel.
The most likely area for last-minute instructions is litigation where strict court deadlines, such as limitation periods apply. However, all practice areas have their share of last-minute clients and the risks involved are the same in each case.
Do you have long enough to do a full and proper job? The standard of work required of you is no less when you have limited time. So you need to be able to do all that you would have done had time not been an issue in the short period available to you.
Do you want to work for this client? While not universal, there are often traits within those who leave things to the last minute; they are disorganised, they are unreliable, they don't think things through, they don't respect the legal process, they have unreasonably high expectations, they are quick to blame and they don't like paying bills. You are going to have to work with this client, get paid by them, maybe call them as a witness. Consider carefully whether you want to take on this work or whether there are better clients out there.
If you decide not to act for the potential client, you should let them know as soon as possible. This is vitally important if deadlines are imminent. You should also make it clear in writing that you have not provided any advice (or are not acting) so there is no room for misunderstandings.
Is there something material you are not being told? It is likely that the matter has been brought at the last minute for a reason. You should find out why. The reason might be legitimate or it might be something that worries you, e.g. various other solicitors over the years have refused to take it on.
Is the risk worth the reward? Last-minute instructions are higher risk, they can also be lower reward too. If you only have limited time, you might have to cut corners and so your fee will be lower. To combat this, consider charging a premium fee/higher rate. If the risk is not worth the reward, then turn the work away.
If you decide to accept the last-minute instructions, it is important to ensure that you can do what is required within the time constraints. You should manage the client's expectations from the outset making it clear what is realistically achievable in the remaining time and how best you can protect the client's position in the circumstances. You should also set out the likely cost consequences clearly explaining that a lot of fees will be generated in a short period of time to get the required work done. You are very strongly advised to take a significant amount of costs on account. You will burn through the legal fees quickly and won't be able to stop if the client does not pay. Given the urgency, there might be disbursements to pay that can't wait either. We should not be funding those and the result the client wants, that gives you leverage when it comes to billing, will arrive quickly.
It may be possible in certain cases to limit the scope of your retainer. For example, to limit your retainer to attempting to negotiate a standstill agreement. However, this should only be done with the utmost care particularly as standstill agreements can often take some time to finalise and the limitation clock will be running down. In these circumstances you will need to clearly warn the client of the consequences, if not successful. Remember that anything requiring cooperation from court or the other side may take time to achieve and in the meantime, the limitation position as against your client will be worsening (For more useful information, see PLC's note on Limitation: practical considerations).
If you will be working with one or more colleagues, including the Central Office Lawyers, make sure that they have capacity to help within the timescales available before you accept the instructions.