Ethics & Fees
Ethics framework
Kelly Economics, LLC uses the National Association of Forensic Economics (NAFE) ethical principles as the guiding framework for our forensic economic work. We rely on these principles as an internal standard for how we approach analysis, reporting, and testimony. Adoption of these principles does not imply endorsement by NAFE.
In practical terms, our approach emphasizes:
- Independence in analysis: our opinions are driven by the record, data, and defensible economic reasoning—not by the goals of any party.
- Method discipline: we use methods that are appropriate for the question presented and we explain assumptions, limitations, and uncertainty.
- Clarity and documentation: we aim to present our work in a way that another qualified professional can understand how results were produced.
- Professional judgment and boundaries: we take on work we can complete competently, and we address conflicts and scope limits as part of engagement intake.
Compensation and objectivity
No contingency compensation
We do not accept compensation that depends on:
- • winning or losing,
- • the amount of a settlement or verdict, or
- • the substance or direction of our opinions.
Fees are based on professional time and the expertise required for the engagement.
Same standards, regardless of who retains us
We apply the same analytical standards whether retained by plaintiffs, defendants, or other parties. The facts and data determine the conclusions.
Retention and payment terms
This page provides a general overview for planning purposes. The executed retention agreement controls if there is any inconsistency.
When work begins
We begin work only after:
- a written retention agreement is signed, and
- the initial retention retainer (if required) is received.
Retainer and invoicing
- • The initial retention retainer is non-refundable, serves as the minimum fee, and is earned upon receipt.
- • Invoices are issued at least monthly.
- • Invoices are generally due within 30 days.
- • Balances not paid when due may accrue interest of 1.5% per month.
Reports and deliverables
Completed reports are released only when all fees owed to date are paid in full, consistent with the retention agreement.
Depositions, hearings, and trial time
Deposition/hearing/trial time requires calendar reservation and coordination. Under the retention agreement:
- • reserved testimony time (and associated preparation) must be paid in advance, typically no later than five business days before the reserved date/time, and
- • we are not obligated to reserve time or appear unless the applicable payment terms are satisfied.
Outstanding fees and expenses for work performed to date must be paid before testimony.
Records and retention after termination
After the engagement ends, we generally have no obligation to retain case materials for more than 30 days. If we receive a written request within that period, we can return records/evidence at the client's expense. If extended retention is needed, it can be arranged in writing.
Request a fee schedule
To request our current fee schedule and standard retention materials, please contact us.
Important: requesting information does not create an expert-witness relationship, does not establish retention, and does not create confidentiality or privilege protections.
Website communications
For information about website communications, confidentiality, and secure transmission of sensitive information, please see our Terms & Conditions.