This is an engagement letter for joint client representation. It covers the nature and scope of the representation, any exclusions, potential conflicts of interest, retainer, fees, costs and expenses, arbitration, and other issues.
Arkansas Engagement Agreement for Joint Client Representation
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FAQ
What Is an Engagement Letter? 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 engagement letter should cover: the engagement's purpose; precisely what the firm will and won't do (the project scope); duties of the client; known unfavorable situations; rates and estimations of billing; client's signature;
An engagement letter is a letter of agreement between a service provider and a client that outlines the specific services that will be provided for a specific engagement. Unlike a service agreement, an engagement letter is typically only used for one-off projects or engagements, rather than ongoing services.
Engagement Letter Format Identification. Service details. Responsibilities of each party. Period of engagement and end date. Professional standards. Fee Structure, retainer payment, and other costs. Confirmation of terms. Client's signature.
An engagement letter is considered executed once it is signed by representatives of both parties. Once executed, the engagement letter forms a legally binding agreement.
6 Types of retainer agreements Pay-for-work retainer. A pay-for-work retainer agreement stipulates a monthly rate the client pays for the agency's work. ... Pay-for-access retainer. ... Project-based retainer. ... Time-based retainer. ... Lump sum retainer. ... Recurring retainer.
The single most important document that defines the attorney-client relationship is the retainer agreement or engagement letter. Regardless of the type of matter, the value of the deal or anticipated award, having a written engagement agreement or retainer letter is a smart move, even if it is not required.