Counsel fees is another, less-than-common variant. The only form to avoid at all costs is attorneys fees, in which the first word is a genitive adjective with the apostrophe wrongly omitted. BRYAN GARNER, GARNER'S DICTIONARY OF LEGAL USAGE 94 (3d ed. 2011).
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.
It provides a safety net for unexpected expenses and ensures the project stays on track, both in terms of budget and timeline. The recommended percentage for a contingency fund is between 5-10% of the total budget, but this may vary depending on project complexity and past experiences.