This form is a attorney-client contract agreement based upon a contingency fee. The fee percentage is included in the contract.
Oklahoma Attorney Fee Contract - Contingency - 40%
Category:
State:
Multi-State
Control #:
US-PI-0227
Format:
Word;
Rich Text
Instant download
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How to fill out Attorney Fee Contract - Contingency - 40%?
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FAQ
A contingency fee is a type of payment structure in which a lawyer only receives payment if they win or settle a case. In other words, the client is risk free.
US OGE. The term ?contingency fee? refers to a type of fee arrangement in a case in which an attorney or firm agrees that the payment of legal fees will be contingent upon the successful outcome of the case.
A typical contingency fee percentage is anywhere from 30 to 40% of your recovery. Your contingency fee agreement will set out the exact percentage. These percentages are often staggered so that your lawyer will get a higher percentage if the case goes to trial ? which requires more time and work for their law firm.
Transfer or Contingency Fees ? To be confirmed upon receipt of the Lease but is usually 1% of the Sale Price (if payable). Management/Leasehold Sale Packs ? This fee is provided by the Management Company or Freeholder and can be difficult to estimate.
In conclusion, contractual contingent fee agreements may be based upon the aggregate of damages and statutorily-awarded attorneys fees if the agreement is consistent with the Oklahoma Rules of Professional Conduct, the agreement complies with the fifty percent (50%) maximum required by Okla.
A contingent fee is a form of compensation that is only paid when a specific objective has been achieved. For example, a contingent fee arrangement could pay an accountant $50,000 when the business plan he constructs is used in the successful sale of securities by a client.
Contingent fees can also include tiers based on how much you recover. For example, the lawyer might charge 33% of the first $100,000 recovered and 15% of any amount over $100,000. If you settle for $100,000, your lawyer receives $33,000.
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.