Contingency Fee In Law Definition In Nassau

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

Description

The Contingency Fee Agreement with an Attorney or Law Firm outlines the terms and conditions under which a client retains legal representation, particularly in cases like wrongful termination claims. In Nassau, a contingency fee is defined as a percentage of the net recovery from the claim that attorneys receive if a case is won, with specific rates for out-of-court settlements, trial resolutions, and appeals. The form details the responsibilities of the client regarding payment of costs and expenses incurred during representation. It grants attorneys a lien on any recovery from the case as security for their fees and expenses. Essential sections include provisions for the employment of expert witnesses and the retention of attorney fees, signaling their entitlement to fees regardless of client dismissal prior to settlement. The form is beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants as it standardizes expectations, defines fee structures, and clarifies roles in litigation, thus supporting their practice management and client relationship. Users are guided on filling out specific percentages and other variables while ensuring compliance with local law. The agreement also emphasizes that favorable outcomes are not guaranteed, reinforcing the importance of transparency in legal proceedings.