Process Agent Fees and Costs Explained
Introduction
At Elemental, we have years of experience acting as a process agent; however, we recognise that for many of the clients we work with it is not something they have done before. Often we get asked to explain how it works, especially with regards to fees.
This guide helps to demystify process agent fees for anyone who is researching options and trying to find the right provider. We cover the key things to look out for and some of the hidden charges to avoid.
Elemental offer a UK Process Agent service.
For further information visit our service page.
A process agent is the representative of a contractual party or parties upon whom court proceedings may be served and will usually act with regard to specified contract(s) for the duration of the term. From this definition we can already see three factors that can affect process agent fees: the number of parties (or appointers), the duration, and the number of contracts:
- Duration – Providers will charge based on the duration of the appointment. However, it is worth noting some providers will insist on a minimum duration e.g. 5 years.
- Appointers – All providers will charge for the number of appointers, but some will offer a discount if there is more than one.
- Agreements – Sometimes a transaction will have several agreements and some providers will charge per agreement, per year. These costs can soon add up.
What additional charges are there?
As well as charging by duration, number of appointers and agreements, there are a few extra charges that you may incur during or after the appointment:
- Minimal renewal charge – it may not be possible to extend a year at a time but instead there may be a minimum charge for renewals.
- Bespoke letters – If your contracting party (or you) require a specific format.
- Additional confirmation letters – if you require letters addressed to different parties.
- Same-day turnaround fee
- Amendment fee – for any future changes.
Elemental’s approach to process agent charges:
Our process agent service fees are refreshingly straightforward. We charge a one-off setup fee and then a fixed fee for every year:
- You can find out how much a process agent with Elemental is going to cost by using our fee calculator.
- We do not charge per agreement when entered into at the same time and that forms part of the same transaction. We also offer a global appointment service, that covers all agreements you may enter into. Please contact us to learn more.
- We offer a 50% discount for additional group appointers with the same address.
- We charge a low renewal fee.
- Appointments can be completed instantly online and there is no same-day service fee.
- If you require a bespoke letter, we can help.
Elemental is a specialist corporate services firm. We’ve helped clients from over 100 countries here in the UK. We offer a professional process agent service without hidden extras. If you have any questions about your process agent requirements, please get in touch. Or, you can visit our process agent service page to get an instant quote and complete a process agent appointment.
