Contingency Fee Agreement Form For Attorney In Chicago
Category:
State:
Multi-State
City:
Chicago
Control #:
US-00442BG
Format:
Word;
Rich Text
Instant download
Description
The Contingency Fee Agreement Form for Attorney in Chicago is a legal document between a client and their attorney outlining the terms of representation in a wrongful termination claim. This form specifies the attorney's fees, typically a percentage of the net recovery, which varies depending on whether the case is settled out of court or goes to trial. It also covers costs associated with the legal process, such as deposition costs and expert witness fees, which the client agrees to reimburse. The agreement establishes a lien for attorneys on any recovered amounts, allowing them to retain their fees upon settlement or judgment. It empowers attorneys to hire expert witnesses and associate counsel as needed. The form highlights the client's obligations if they settle independently and clarifies that attorneys make no guarantees regarding the outcome of the case. This form is essential for attorneys, partners, owners, associates, paralegals, and legal assistants, as it lays the groundwork for a transparent attorney-client relationship regarding fees, responsibilities, and expectations.
Free preview
Form popularity
FAQ
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.
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.
