Contingency Fee Agreement Form For Legal Services

State:
Multi-State
Control #:
US-01193
Format:
Word; 
Rich Text
Instant download

Description

The Contingency Fee Agreement Form for Legal Services outlines the terms under which a law firm will represent a client in pursuing a claim for injuries or damages. This agreement specifies the fee structure, which varies based on when the recovery is made: 33% if settled before a lawsuit, 40% if settled after filing, and 50% if awarded after a trial. It also details the requirement for a retainer fee, which is not refundable if there is no recovery. Clients are responsible for all costs and expenses unless covered by the recovery, and the law firm has the discretion to withdraw from a case if no basis for action is found. The agreement emphasizes that no outcome guarantees are made, ensuring transparency and understanding. This document is pivotal for legal professionals as it protects the interests of both the attorney and the client. Attorneys, partners, associates, and legal assistants can use this form to facilitate clear agreements with clients and to manage expectations regarding fees and recovery outcomes.
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FAQ

A contingency agreement is an arrangement between a plaintiff and a lawyer, stating that the lawyer will represent the plaintiff without money to pay up front. In these situations, the plaintiff pays the lawyer only if the lawyer wins the case.

In a contingent fee arrangement, the lawyer agrees to accept a fixed percentage (often one-third to 40 percent) of the recovery, which is the amount finally paid to the client. If you win the case, the lawyer's fee comes out of the money awarded to you.

Contingency Fee Percentages Most contingency fee agreements give the lawyer a percentage of between 33 and 40 percent, but you can always try to negotiate a reduced percentage or alternative agreement. In the majority of cases, a personal injury lawyer will receive 33 percent (or one-third) of any settlement or award.

Drawbacks of a Contingency Fee Arrangement First, a contingency fee arrangement will sometimes result in an attorney getting paid more money than if you paid the attorney by the hour. This is especially true in relatively clear-cut cases that might only require a few phones calls and letters to settle.

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Contingency Fee Agreement Form For Legal Services