Contingency Fee In Law Definition In Bronx

• Category: Attorneys - Fee Agreements
• State: Multi-State
• County: Bronx
• Control #: US-00442BG
• Format: Word; Rich Text

Description

The Contingency Fee Agreement with an Attorney or Law Firm is a legal document that outlines the terms under which a client retains legal representation in exchange for a percentage of any recovery achieved. Specifically, the agreement defines how attorney fees will be calculated based on the net recovery, with different percentages applicable for settlements, trials, and appeals. It also addresses the client's obligation to cover various costs incurred by the attorneys during the legal process, such as expert witness fees and reasonable expenses. Key features include a lien on recovery, provisions for employing associate counsel, and the ability for attorneys to withdraw while still retaining their fee rights upon withdrawal. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, allowing them to clearly articulate fee structures and manage client expectations effectively. By utilizing this form, legal professionals can ensure transparent communication regarding the financial obligations of the client and streamline the legal representation process.