This form is a attorney-client contract agreement based upon a contingency fee. The amount of the contingency fee is 50% of any recovery.
Virgin Islands Attorney Fee Contract - Contingency - 50%
Category:
State:
Multi-State
Control #:
US-PI-0309
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Attorney Fee Contract - Contingency - 50%?
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FAQ
A contingent fee agreement is a legal agreement that allows you to hire a lawyer for your case without having to pay any out-of-pocket upfront fees unlike a retainer fee. The lawyer getting payment is contingent on you winning your case. If you do not win your case, you don't have to pay your contingency lawyer.
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 retainer for a lawyer is a fee paid upfront by the client to secure the services of an attorney. It essentially "reserves" the time and expertise of a lawyer, making them accessible to the client for an agreed-upon time. The amount of the retainer fee can vary and may be a flat fee or an hourly rate. Lawyer Retainers: Definition, Purpose, and Ethics - LawPay lawpay.com ? about ? blog ? lawyer-retainers lawpay.com ? about ? blog ? lawyer-retainers
That is, generally in a contingency fee agreement, the lawyer only receives compensation if the lawyer has successfully represented the client. Further, the amount the lawyer receives is contingent upon the result the lawyer obtains and often on the phase of litigation in which the dispute settles.