Loyalty Discounts

Gilchrist & Co - Loyalty discount policy.

Although our standard fees are already very competitive for the services we provide at Gilchrist & Co we appreciate our clients who choose to work with us year after year and help us by providing the accurate information we require in a timely fashion. It also helps us when clients pay on time which reduces the resources that have to be spent on credit control. When our clients work well with us it means that we are more effective and productive and have more time to maintain high standards of professional service expected from us.

In recognition of our appreciation we provide an automatic loyalty discount of up to 20% on our fixed standard fees to existing clients. The way the discount works is that we do not increase fees year on year for 'existing' clients when our standard fees rise to meet inflation and costs. This increasing discount on the standard fee continues until the discount exceeds 20% or the client exits the discount scheme.

Clients will exit the loyalty discount scheme if:

  • They drop one or more of the services that Gilchrist & Co has been providing to them.

  • They elect not to use Gilchrist & Co to provide a new service that they require and which is listed on the Gilchrist & Co pricing page.

  • End their professional engagement with Gilchrist & Co.

  • Do not provide information requested by Gilchrist & Co within the time scales set out in the request.

  • Do not pay their professional fees within in the free 30 day credit period provided from the date of invoice.

With regard to late payments the client will exit the loyalty discount scheme if:

  1. Within a 12 month rolling period they are issued with 3 Friendly reminders.

  2. Within a 12 month rolling period they are issued with 2 Second reminders.

  3. Within a 12 month rolling period they are issued with 1 Final reminder.

With regard to legacy loyalty discounts:

Some clients who have been with Gilchrist & Co for many years will find that their loyalty discount is substantially in excess of the generous 20% discount that applies to most existing clients. Unfortunately such large automatic discounts are not economically sustainable by the practice. To bring the discount provided to those clients to an affordable level the discounted fee will increase each year by 10% until the discount provided reaches the standard 20% Level.