Contingency Fee In Construction In Houston

State:
Multi-State
City:
Houston
Control #:
US-00442BG
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Word; 
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Description

There are various types of attorney fee arrangements such as time based, fixed, or contingent. Time based means a fee that is determined by the amount of time involved, such as so much per hour, day or week. Fixed means a fee that is based on an agreed amount, regardless of the time or effort involved or the result obtained. Contingent means a certain agreed percentage or amount that is payable only upon attaining a recovery, regardless of the time or effort involved.


With a contingent fee arrangement, the lawyer receives no fee unless money is recovered for the client. Upon recovery, the lawyer is paid an agreed-upon percentage, usually ranging from an amount equal to 25 to 50 percent of the amount recovered. A written fee agreement should specify the costs and expenses to be deducted and whether such costs and expenses are to be deducted before or after the contingent fee is calculated. Contingent fee agreements are generally not permitted for criminal cases or domestic relations matters.


Even if there is no recovery, however, the client is still responsible for court costs (filing fees, subpoena fees, etc.) and related expenses, such as telephone charges, investigators' fees, medical reports, and other costs.


This form is a fairly typical contingent fee agreement

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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

Contingency costs can be incurred during any of the construction project phases. For example, a design error may lead to an unexpected increase in material expenses before ground-breaking. At the same time, a stretch of inclement weather might delay or complicate final detailing and sign-off steps.

Typically, most construction projects use a contingency rate of 5% to 10% from the total project budget. This is typically enough to cover any unexpected costs that may arise throughout the project.

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.

More info

A Houston contingency fee lawyer with this payment structure is helpful to clients and enables them to pursue legal action without worrying about upfront costs. The contingent-fee arrangement is also commonly referred to as "no win, no fee".A contingency fee is a type of payment arrangement in which an attorney agrees to represent the client in exchange for a percentage of any settlement or award. Call us at or toll-free or complete our confidential online form for a free case evaluation. The actual contingency fee amount may vary depending on the lawyer and the case, but it is typically around one third of the total recovered damages. How Much Does It Cost? CONTINGENCY FUND (in or out of GMP). The contingent-fee arrangement is also commonly referred to as "no win, no fee". Call us at or toll-free or complete our confidential online form for a free case evaluation. Workers' Compensation attorneys generally charge a contingency fee.

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Contingency Fee In Construction In Houston