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Corridor: Standard Rates, Discounted Rates, Billed Rates for Timekeepers

On the View Timekeepers web page, Add Timekeepers web page, and in the Upload Timekeepers CSV file, here are the definitions of the different types of rates:

Standard Rate = Rack rate at the firm, no discount applied.  

Discounted Rate = Rack rate minus an agreed discount (could be a percent or amount applied).  

Billed Rate = The rate that will be found on the LEDES file when submitting the invoice, could be the Standard Rate or the Discounted Rate depending on how the firm submits a discount.  

Note: Some clients require the discount when submitting by taking 10% off the entire invoice, and some clients require the invoice disount be submitted with an already discounted rate. Check your client's billing guidelines for more information.

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