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Bank of AmericaLegal Department
Outside Counsel Procedures
(For law firms located in United Statesor providing services to businesses in U.S.)
April 2008
ii
BANK OF AMERICALEGAL DEPARTMENTOutside Counsel Procedures for the United States
I. Introduction.........................................................................................................................1II. Relationship with the Legal Department and Other Law Firms.........................................2III. Engagement of Outside Counsel.........................................................................................2A. General Engagement Policy.......................................................................................2B. Role of the Legal Department....................................................................................2C. Role of the Responsible Business Associate.............................................................3D. Role of the Law Firm.................................................................................................3IV. Confidentiality and Security of Information.......................................................................5V. General................................................................................................................................6A. Gramm-Leach-Bliley Act..........................................................................................6B. Contacts with the Media............................................................................................6C. Conflicts of Interest....................................................................................................6D. Document Review......................................................................................................7E. Standard Forms..........................................................................................................7F. Work Products and Research Materials.....................................................................7G. Contact with Regulators/Notice of Regulatory Issues...............................................7H. Compliance with Section 307 of Sarbanes-Oxley.....................................................8I. Treasury Regulations – Potentially Abusive Tax Shelters........................................8VI. Minority and Women Outside Counsel..............................................................................8VII. Special Engagements-Exceptions.......................................................................................8A. Private Client Group..................................................................................................8B. Insurance Claims........................................................................................................9C. Collection Matters......................................................................................................9VIII. Litigation Matters................................................................................................................9A. General.......................................................................................................................9B. Litigation Philosophy.................................................................................................91. Advocacy.............................................................................................................92. High Ethics...........................................................................................................93. Motion Practice and Discovery..........................................................................104. Settlements.........................................................................................................105. Alternative Dispute Resolution..........................................................................10C. Engagement of Outside Counsel..............................................................................101. Engagement Policy............................................................................................102. Legal Matter Numbers.......................................................................................10D. Relationship with Legal Department.......................................................................111. Principal Legal Contact......................................................................................112. Mandated Contacts.............................................................................................113. Partnering Relationship......................................................................................114. Initial Requirements of Outside Counsel...........................................................11E. Reporting Requirements/TeamConnect...................................................................12
iiiF. Miscellaneous Requirements...................................................................................121. Engagement of Local Counsel...........................................................................122. Engagement of Experts......................................................................................123. Engagement of Electronic Discovery Agencies................................................124. Engagement of Class Action Administration Firms..........................................135. Appeal................................................................................................................136. Stenographic Services........................................................................................137. Regulatory Issues...............................................................................................13IX. Billing Procedures and Guidelines....................................................................................14A. Invoice Content and Details.....................................................................................14B. Disbursements..........................................................................................................15C. Staffing.....................................................................................................................17D. Legal Research.........................................................................................................18E. Non-Payment of Invoices Due to Errors or Incomplete Information......................18F. Timekeeper Data and Billing Rates.........................................................................19G. Credits......................................................................................................................20H. International Law Firms.........................................................................................200
APPENDICES
APPENDIX I: Use of Minority and Women Attorneys on Bank of America Matters (1 page)APPENDIX II: Initial Case Plan and Budget (3 pages)APPENDIX III: Invoice Process Guide (16 pages)APPENDIX IV: Timekeepers/Billing Rates (3 pages)APPENDIX V: Invoice/Billing Contacts (1 page)
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