Contingency Agreement Sample With Contract In Arizona

State:
Multi-State
Control #:
US-00442BG
Format:
Word; 
Rich Text
Instant download

Description

The Contingency Agreement sample with contract in Arizona is a legal document that outlines the terms under which a client retains an attorney to prosecute a claim, typically related to wrongful termination. It specifies the fee structure, which is contingent on the recovery amount, detailing the percentages due based on whether the case is settled out of court, resolved by trial, or after an appeal. The agreement also addresses the costs and expenses incurred by the attorney, including disbursements and expert witness fees, which are to be paid by the client. Additionally, it grants attorneys a lien on any recovery, allowing them to take their fees from the settlement or judgment. The agreement includes clauses on attorney withdrawal, expert employment, and the client's obligations should they settle independently. It emphasizes that no outcomes are guaranteed, and attorneys hold the right to execute necessary documents on the client's behalf. This form is particularly useful for attorneys, partners, and legal professionals who require a clear framework for contingent fee agreements, ensuring comprehensive understanding and compliance with Arizona law.
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  • Preview Contingency Fee Agreement with an Attorney or Law Firm
  • Preview Contingency Fee Agreement with an Attorney or Law Firm

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FAQ

The contract is characterized as "contingent" because the terms are not final and are based on certain events or conditions occurring. A contingent contract can also be viewed as protection against a future change of plans.

Contingency Contract Examples If you fail to secure the financing within the stipulated period, either party may terminate the contract without any legal consequences. Another simple example is a child who agrees with their parent that they would receive a new bicycle if they receive an A in a specific class.

What Is a Contingency? A contingency is a potential occurrence of a negative event in the future, such as an economic recession, natural disaster, fraudulent activity, terrorist attack, or a pandemic.

The average contingency rate falls between 20-40%, with most lawyers charging around 33% to 35% of the total amount recovered in a case. The exact percentage can vary depending on the complexity of the case, the lawyer's experience, and the stage at which the case is resolved.

Best practices for drafting a contingent contract #1 Define the conditions clearly to activate the contract obligations. #2 Include detailed descriptions of all parties' obligations. #3 Keep the contract simple to avoid misunderstandings. #4 Regularly update your contracts to keep them relevant and enforceable.

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Contingency Agreement Sample With Contract In Arizona