Contract For Retainer Agreement
Description
How to fill out Contract To Employ Law Firm - Hourly Fee With Retainer?
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FAQ
A retainer agreement is a long-term work-for-hire contract between a company and a client that retains ongoing services from you (as a consulting business) and provides you with a stable amount of payments.
Most lawyers require a retainer agreement, which is also known as a work for hire contract. This document typically includes the type of work the attorney is doing for the client, all associated fees, and the general rights of both parties entering into the agreement.
Retainer agreements should:Always be in writing.Contain a statement that the firm has conducted a search for conflicts of interest and either (1) there are no conflicts, or (2) appropriate parties, including the client, have been advised of potential conflicts and waived them.Define the scope of the engagement.More items...
How to Sell Your Clients on a Monthly RetainerGet your foot in the door first. As with any new relationship, you don't want to move too fast with a new client before you get to know each other.Sell value, not hourly.Keep your contracts clear and tight.Prove why you're worth it.Report on progress.
Multiply the number of hours by your hourly rate to calculate your monthly retainer. For example, multiplying 25 hours by an hourly rate of $107 equals a $2,675 monthly retainer.