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What is a contingent retainer?

What is a Retainer and Contingency Agreement? A Retainer and Contingency Agreement is a type of contract between a lawyer and their potential client for an upcoming lawsuit. The agreement generally covers important matters like the lawyer fees, as well as the terms of the attorney-client relationship.

What is the purpose of a retainer fee?

What Is a Retainer Fee? A retainer fee is an amount of money paid upfront to secure the services of a consultant, freelancer, lawyer, or other professional. A retainer fee is most commonly paid to individual third parties that have been engaged by the payer to perform a specific action on their behalf.

Is a retainer fee returned?

A retainer is by default non-refundable and is not returned. Instead, it gets applied to the total. Think of a security deposit for an apartment or a cleaning deposit for an event venue rental (separate from the actual fee for the event cost itself). These are fees that are separate from the total.

What is the purpose of a retainer fee?

A retainer fee is an amount of money paid upfront to secure the services of a consultant, freelancer, lawyer, or other professional. A retainer fee is most commonly paid to individual third parties that have been engaged by the payer to perform a specific action on their behalf.

Why should a contingency fee not be used?

Contingent fees create an undue emphasis on the extent of the plaintiffs damages, and they encourage the filing and prosecution of cases with large damages but little negligence.

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