Fee Agreement
A written contract between attorney and client specifying how legal fees will be calculated, billed, and paid.
Detailed Explanation
Fee agreements must be in writing for contingency fee arrangements and are recommended for all representations. They should specify the fee structure (hourly, flat, contingency), payment terms, retainer amount, scope of representation, cost responsibilities, and termination procedures. Review fee agreements carefully before signing—they are negotiable.
Related Terms
Retainer Fee
An upfront payment made to a lawyer to secure their services, deposited into a trust account and billed against as work is performed.
Contingency Fee
A fee arrangement where the lawyer only gets paid if you win your case, typically taking 33-40% of the settlement or verdict.
Hourly Rate
The amount a lawyer charges per hour of work, typically ranging from $150-$700 depending on experience and location.