Contingency Fee In Law In Suffolk

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

Description

The Contingency Fee Agreement with an Attorney or Law Firm is a formal contract between a client and attorneys that establishes the terms under which the attorneys will be compensated for their services, particularly in wrongful termination claims. This agreement outlines key features regarding attorney fees, which are contingent on the recovery achieved; clients pay a percentage of the net recovery depending on whether the case settles out of court, goes to trial, or involves an appeal. It also addresses costs and expenses incurred by the attorneys, which the client is responsible for on a regular basis. Notably, attorneys have a lien on any recovery for their fees and advanced costs. The agreement permits attorneys to employ experts at the client's expense and allows for the involvement of associate counsel at the attorneys' discretion. It specifies the attorneys' rights to fees even if discharged by the client before settlement, and mandates reimbursement for any costs upon independent settlement by the client. Additionally, the attorneys do not warrant a favorable outcome, and the agreement is governed by the laws of the state in which it is executed. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants dealing with client cases, as it provides a structured approach for managing client expectations and financial arrangements.