Retainer Agreement For Expert Witness
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FAQ
Generally, experts bill at an hourly rate commensurate with their experience and credentials. Communicate your rates to your attorney client, and provide an estimate of your fees for the consulting phase. This amount becomes the retainer. Draw down on this for your payments as deliverables are completed in this phase.
The expert witness retainer agreement is a contract between the attorney that is retaining the expert and the expert witness. The well drafted expert witness contract should of course cover issues such as the rate of compensation, when payment is due, retainer amount, and expenses.
Most physician expert witnesses require an upfront retainer, at least part of which is non-refundable. Retainer fees are based on demand and experience and can range widely. $2000 to $3000 is a standard starting rate.
To summarize what is a retainer agreement, it can be structured in several different ways: Client pays a set amount each month to access a certain amount of time. ... Client pays a set amount each month for a specific set of deliverables. ... Client pays simply to have access to the freelancer.
Retainer fees are based on demand and experience and can range widely. $2000 to $3000 is a standard starting rate. Rates for chart review and report preparations average $300- $400 per hour. Average rates for deposition and testifying at trial are slightly higher at $400 to $500 per hour.