Well done to the Conveyancing Committee, and Andrew Wong, for this article.
I would ask the Bar Council to make clear A4 photocopies of this article as printed in the actual newspaper (looks more authentic, that way) and make it available to conveyancing lawyers so we can laminate it and put it up next to the mandatory 'No Discount' signs!
Seriously,
Shanmuga K
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Francis Soh
User Junior Forumer
Posts: 82
Re:Solicitor's role in property transactions - 2006/09/22 11:08I agree with you Shanmuga.
Andrew Wong has written a good article on what the Conveyancers has to do and stll lawyers or clients as for discount.
Its good that we are practising LITIGATION...... except for the banking litigation with RM15-25 for letter of demand issued...
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Stephen Tan Ban Cheng
User Gold Forumer
Posts: 593
Re:Solicitor's role in property transactions - 2006/09/22 13:10Dear Shanmuga
To put things in perspective, we must thank the Chairman of the Conveyancing Practice Committee and the management of The Sun for the regular column that Anrew Wong and a few others have written in.
Of course, when we get lawyers such as Andrew Wong to write on the law of property, we know that what is produced will not be half-past six.
By the way, I asked a retired teachers why we Malaysians use the term half-past six. When he could not figure it out, I explained that once a mechanical clock is spoilt, ther hour and second hand will point at half-past six.
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Ong Siew Wan
User Fresh Forumer
Posts: 37
Why Give Discount ? - 2006/09/25 08:19Andrew Wong’s article on ‘The Role Of A Solicitor In A Property Transaction’ provides good understanding of a Solicitor’s duties and responsibilities when handling property transaction. It is not as simple as one always thought and the Solicitor is always exposed to a risk of being sued for failure to carry out one of the thing that he is required to.
According to the amended Solicitor Remuneration Order 2005, the Solicitor is entitled to charge his fee at only 1% of the transacted value if the transacted consideration is less than RM 150,000.00 and gradually reducing in percentage when the transacted consideration getting higher. In another word, the higher the transacted consideration the lower the fee but the duties and responsibilities remain the same if not greater. However, the risk exposure will be higher in term of monetary value. Taking into further consideration of higher premiums payable, being categorized as ‘hazardous work’ under The Malaysian Bar Professional Indemnity Insurance Scheme and the office overhead, the scale fee set by the Solicitor Remuneration Order is more than reasonable if not too low.
Solicitor’s service is not a commodity. It is a professional service required to ensure that each and every transaction will be completed in fair manner to the parties to the transaction. It provides some kind of ‘assurance’ that no party to the transaction is losing out from the transaction entered into. It is not how much discount you can give it is a quality service that you can provide. To put it in more sophisticated way, the competitiveness should not be the price charged but the quality of services rendered. One must therefore not compromise such quality work by charging lower fee (giving discount).
The scale fee as well as the no discount rule should therefore be maintained to ensure a high quality of Solicitor’s service.
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