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How to Send Retainer Agreement Template

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In this video tutorial, the discussion revolves around a retainer fee agreement between attorney Barry Forester and client Valerie Victim. The agreement serves as a formal document indicating the law firm's representation of Valerie in an assault and battery case against the opposing party, Tammi Tortfeasor. It emphasizes that the retainer fee is non-negotiable to prevent misunderstandings during the attorney-client relationship, aligning with Rule 1.5 of the Tennessee Rules of Professional Conduct. The agreement also stipulates that Valerie agrees to cover all incurred expenses, including court costs, witness fees, and mediator fees. The attorney encourages questions throughout the presentation.

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How does retainer pricing work?

A retainer is a pricing model based on the agreement that a client retains ongoing services from you. Its different from other pricing models in a way that the customer agrees to pay in advance during a set period of time for professional work to be negotiated later.

What is a retainer fee sample?

Example of a Retainer Fee For example, a lawyer may charge a $500 retainer fee. If the lawyer charges a total of $100 an hour, the retainer covers all services up to the five-hour limit. The lawyer then bills the client for the cost of any additional hours they invest on behalf of the client.

What is a typical retainer agreement?

A retainer agreement is a contract wherein a client pays another professional in advance for work to be specified at a later point in time. In exchange, that professional agrees to make himself available to that client for a certain number of hours within a predetermined timeframe.

Why do lawyers want a retainer fee?

Lawyers ask for a retainer fee to make sure they will be paid for the services they provide you.

How do I write a retainer agreement?

How to set up a retainer agreement Hourly. Offer the client a specific number of hours of work per month. By deliverable. Promise to deliver a set number of products or services per month. For access. In some instances, a client might pay a monthly fee for access to your services.

How do you pitch a retainer to a client?

Heres my advice: Pitch only to existing clients or clients you know well. Never pitch a retainer agreement to someone youve never worked with before. Present the retainer as a way to get front of the line status. Highlight the benefit of predictable budgeting. Include a small discount (maybe)

How do you structure a retainer fee?

How to Determine an Appropriate Retainer Fee. Retainer fees are often based on the rates you would charge under other payment models. For instance, if you charge $100 per hour for your services and typically work 40 hours per week for clients, you would likely look to charge a $4,000 monthly retainer.

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