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Information for Prospective Outside Counsel

Selection of Potential Outside Counsel

The Legal Division attempts to select outside counsel on a competitive basis whenever possible. When retaining outside counsel to perform legal services, the Legal Division considers several factors, including:
u The experience of outside counsel in the type of legal work required to be performed.
u The geographic location of outside counsel.
u The capacity of outside counsel to handle the anticipated volume of work.
u Whether the fees or rates proposed by outside counsel are competitive in comparison to other firms’ rates. Whether the proposed rates reflect discounts.
u Whether provision of legal services by outside counsel would constitute or give rise to an actual or potential conflict of interest or the appearance of a conflict of interest.
u If the firm previously worked for the FDIC, whether it has a verifiable reputation for competence, integrity, cost effectiveness and cooperativeness.

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Last Updated 2/24/2009 legal@fdic.gov