Contingency Fee Agreement Example In Washington

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Description

There are various types of attorney fee arrangements such as time based, fixed, or contingent. Time based means a fee that is determined by the amount of time involved, such as so much per hour, day or week. Fixed means a fee that is based on an agreed amount, regardless of the time or effort involved or the result obtained. Contingent means a certain agreed percentage or amount that is payable only upon attaining a recovery, regardless of the time or effort involved.


With a contingent fee arrangement, the lawyer receives no fee unless money is recovered for the client. Upon recovery, the lawyer is paid an agreed-upon percentage, usually ranging from an amount equal to 25 to 50 percent of the amount recovered. A written fee agreement should specify the costs and expenses to be deducted and whether such costs and expenses are to be deducted before or after the contingent fee is calculated. Contingent fee agreements are generally not permitted for criminal cases or domestic relations matters.


Even if there is no recovery, however, the client is still responsible for court costs (filing fees, subpoena fees, etc.) and related expenses, such as telephone charges, investigators' fees, medical reports, and other costs.


This form is a fairly typical contingent fee agreement

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FAQ

The average contingency rate falls between 20-40%, with most lawyers charging around 33% to 35% of the total amount recovered in a case. The exact percentage can vary depending on the complexity of the case, the lawyer's experience, and the stage at which the case is resolved.

For example, if you sell your apples from your orchard when the trees are yet to produce apples, the apples are a contingent good.

What Is a Contingency? A contingency is a potential occurrence of a negative event in the future, such as an economic recession, natural disaster, fraudulent activity, terrorist attack, or a pandemic.

More info

Venue and Attorneys' Fees. The Parties agree that in the event any dispute should arise with respect to this Agreement, venue shall lie in Seattle, Washington.A contingency fee agreement is an agreement that makes it so that your attorney only receives payment if you receive monetary compensation in your case. This FindLaw article gives a sample retainer and contingency agreement for an injury case. 1.1 The Contractor shall assist in the investigation and litigation on a contingency fee basis. How it works: An agreed-upon percentage of your settlement will be shared with your lawyer as their fee. In this column, we'll survey some practical approaches to documenting both initial fee agreements and any later modifications. In this column, we'll survey some practical approaches to documenting both initial fee agreements and any later modifications. A fee agreement should clearly state the percentage the law firm is paid out of any case settlement, and out of any trial verdict. The agreement must include the percentage of the award or settlement the attorney will receive.

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Contingency Fee Agreement Example In Washington