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.
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.
The Board and Management need to sign and return the Engagement Letter to our office before we may commence the work. The Representation Letter is issued with the draft audit and is required by auditing standards to finalize the audit.
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.
When to use an engagement letter? Once both parties have agreed upon a given set of tasks and agreed to get into an agreement with the other, an engagement letter is drafted initially with services, payment details, terms and conditions, and deadlines.
Retention Letter means a document held to maintain net economic interest significantly, updated by various parties from time to time.
A retainer agreement is a work-for-hire contract. It falls between a one-off contract and permanent employment, which may be full-time or part-time. Its distinguishing feature is that the client or customer pays in advance for professional work to be specified later.
Once a contract or retainer agreement has been signed between both parties, there's no question that privilege applies. Nonetheless, it generally starts before a contract is officially signed, even if you ultimately do not hire the attorney you had a consultation with.