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District of Columbia
Contract to Employ Law Firm - Hourly Fee - with Retainer

District of Columbia Contract to Employ Law Firm - Hourly Fee - with Retainer

Category:

Employment - Agreements - Law Firms

State:

Multi-State

Control #:

US-01959BG

Format:

Instant download

Description

Attorney's fees are assessed in a number of ways, usually set by contract in advance of the representation, including by billable hours, flat fees, or contingent fees. Attorneys who voluntarily accept work on behalf of indigent clients often work pro bono. An upfront fee paid to a lawyer is called a retainer. A contingent fee is a percentage of the monetary judgment or settlement.

The range of fees charged by lawyers varies widely from one city to the next. Most large law firms in the United States bill between $200 and $500 per hour for their lawyers' time, though fees charged by smaller firms are much lower. The rate varies tremendously by location as well as the specific area of law practiced.

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PREVIOUS CONVICTION OF OTHER SERIOUS OFFENSES

Welcome Discount for New Enterprise

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FAQ

Regardless of occupation, the retainer fee funds the initial expenses of the working relationship. For this reason, these types of fees usually remain in a separate account from the hourly wages of the consultant, freelancer, or lawyer.

For example, the attorney may project that he will spend 10 hours, at an hourly rate of $100, amounting to a $1,000 retainer fee. If in the first month, the lawyer spends four hours on the case, he will charge $400 against the $1,000 retainer fee, leaving a balance of $600.

A retainer fee is an advance payment that's made by a client to a professional, and it is considered a down payment on the future services rendered by that professional. Regardless of occupation, the retainer fee funds the initial expenses of the working relationship.

A monthly retainer fee is paid in advance by your clients to ensure that your services will be available to them for the period covered. Clients on a monthly retainer usually pay a recurring fee, and they usually work on long-term projects with different agencies, who are available at their beck and call.

Attorneys typically charge an average of $100 to $300 an hour, while a consultant may charge $50 to $150. No matter your profession, though, it's good to find a reasonable rate that works with your experience level and your success rate in the industry.

Usually, though, any unused funds are returned to the client once all expenses have been billed and collected out of the retainer.

4. HOURLY FEE/MINIMUM RETAINER - An agreement between the attorney and client whereby the client pays, at the beginning of the matter involved, a fixed amount which will be the minimum fee charged.

Throughout the United States, typical attorney fees usually range from about $100 an hour to $400 an hour. These hourly rates will increase with experience and practice area specialization.

The retainer fee ensures that the hired service provider reserves time for the client in the future when there is a need for their services. Unlike a one-time contract, a retainer agreement is a long-term work-for-hire contract and thus can retain ongoing services.

Being on retainer means that you're on-call for a specified number of hours each week or month. The client agrees to pay you for these hours, whether he gives you work or not. Usually, service providers offer clients a reduced hourly rate for the security offered by being on retainer.

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