Contingency Fee For Construction In Miami-Dade
Category:
State:
Multi-State
County:
Miami-Dade
Control #:
US-00442BG
Format:
Word;
Rich Text
Instant download
Description
The Contingency Fee Agreement with an Attorney or Law Firm outlines the terms under which a client retains legal representation for a construction-related claim in Miami-Dade. Key features include specified percentages for attorney fees based on the recovery amount, liability for costs, and the provision of an attorneys' lien on any recovered sums. This form is crucial for attorneys, partners, and paralegals as it clarifies the financial arrangement and legal responsibilities between the client and the legal team. It allows for cost management, including expenses for expert witnesses and travel. The agreement also provides insight into how legal disputes will be handled and ensures transparency regarding the attorney's withdrawal or discharge. By detailing the terms of engagement, it helps to establish clear expectations, making it useful for construction professionals seeking legal assistance. This form serves to enhance communication and understanding among legal assistants and associates involved in construction law cases.
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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.
How much contingency do I factor in? The industry standard for construction risk contingency is 3-10% of total hard costs. Some developers budget contingency for soft costs as well, typically 1% percent of total project costs or 10-20% of total soft costs.
