This form is a attorney-client contract agreement based upon a contingency fee. The amount of the contingency fee is 50% of any recovery.
Virginia Attorney Fee Contract - Contingency - 50%
Category:
State:
Multi-State
Control #:
US-PI-0309
Format:
Word;
Rich Text
Instant download
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FAQ
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.
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.
That said, the most common lawyer contingency fee average ends up being 33%, or ? of the total earnings of a case, but can go up to 40% (in some jurisdictions) as the complexity and risk involved in taking the case increases.
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.
Contingency fee percentages may change depending on the personal injury lawyer. However, a typical contingency fee percentage is 33.33%. The lawyer will get 33.33% of any settlement or award if they win the case.
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.
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.
Attorney fees. In any matter properly before the court, the court may award attorney fees and costs on behalf of any party as the court deems appropriate based on the relative financial ability of the parties and any other relevant factors to attain equity.