Retainer Agreement

Name: Retainer Agreement
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.6 (475 reviews)

Category:

Attorneys

State:

Multi-State

Control #:

US-APP1B

Format:

Instant download

Description Are Retainer Fees Refundable

This document is a retainer agreement for representation in a matrimonial matter. It contains general comments on such a retainer, along with the full retainer agreement. Although the agreement reflects New York law, it should be considered for use by attorneys in virtually all states as a guide in preparing a fair arrangement between attorney and client.

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Retainer Agreement Pdf Other Form Names

Retainer Agreement Sample Retainer Arrangement Retainer Fee Agreement Retainer Letter

FAQ

As such, a retainer agreement is a formal document outlining the relationship between an attorney and client. It details the different obligations and expectations involved, which can include ethical work principles, retainer fees, modes of communication, and professional ground rules.

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 retainer fee is an amount of money paid in advance by a client to assure your services will be available to them for an extended amount of time. The client pays a lump sum upfront, or makes a recurring monthly payment, and you work with them on a long-term project, or provide them with access to services each month.

Accounting for a Retainer Fee If the firm is using the accrual basis of accounting, retainers are recognized as a liability upon receipt of the cash, and are recognized as revenue only after the associated work has been performed.

Generally, if the attorney is on a cash basis of accounting, the retainer is taxable when received. The client is normally given a periodic accounting of the time and costs spent on the case. If the prepaid funds are exhausted, the client is billed for any balance due.

By asking you to sign a retainer agreement at the initial meeting, the law firm wants to lock you up, exclusively, such that you are no longer able to speak with any other lawyer or law firm about your case.You are not required to stay with your lawyer simply because you signed a retainer agreement.

The amount you're to receive each month. The date you're to be paid by. Any invoicing procedures you're expected to follow. Exactly how much work and what type of work you expect to do. When your client needs to let you know about the month's work by.

In a definitive sense, a retainer is a fee that is paid in advance in order to hold services (ie. a wedding or event date). While a deposit may also reserve a date, it is returned when the services have been completed. A retainer is by default non-refundable and is not returned.

Retainer Agreement

Description Are Retainer Fees Refundable

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Retainer Agreement Form Form popularity

Retainer Agreement Pdf Other Form Names

FAQ

What should be included in a retainer agreement?

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