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.
You need a form of engagement document, but you don't necessarily need customised letters. An engagement brochure meets the requirements of APES 220 Taxation Services and APES 305 Terms of Engagement. You should make sure the client acknowledges receipt.
An engagement letter is a written agreement that describes the business relationship to be entered into by a client and a company. The letter details the scope of the agreement, its terms, and costs. The purpose of an engagement letter is to set expectations on both sides of the agreement.
1. As noted above, a retainer agreement is a letter of engagement countersigned by both the attorney and the client, and contains all the elements that letters of engagement must contain.
Engagement letters put the details of a company-client relationship into writing. Though they are less formal than a traditional contract, engagement letters are still official, legally-binding agreements—and a well-structured, detailed engagement letter is a valuable document for everyone involved.
Retention Letter means a document held to maintain net economic interest significantly, updated by various parties from time to time.