As a best practice, licensees should consider using a retainer agreement or engagement letter for every matter. Confirming the essential terms of the engagement with the client in writing manages client expectations and reduces the risk of misunderstanding between the licensee and their client.
A contract can either be written or verbal, and while both can be legally binding, some contracts are required to be written in a designated format to be enforceable. Contract law is complex and differs between jurisdictions.
This is a legal contract between the law firm and the client setting forth the terms of the legal services to be provided and how the client will be charged for the services.
A retainer need not be in writing, although it is in both your and the lawyer's interests if the essential terms are in writing. This may be part of a costs agreement. Under a retainer, the lawyer agrees to use all the relevant information to further your interests.
Retention Letter means a document held to maintain net economic interest significantly, updated by various parties from time to time.
Retainer agreements (also referred to as representation agreements) are a type of compensation agreement with lawyers either for reserving their employment or as compensation for future services. Also inside the agreement are details on the scope and procedure for the representation.
This is a legal contract between the law firm and the client setting forth the terms of the legal services to be provided and how the client will be charged for the services.
To keep or continue to have something: She has lost her battle to retain control of the company. He managed to retain his dignity throughout the performance. She succeeded in retaining her lead in the second half of the race.