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
A contingency fee agreement is a common arrangement between a client and an attorney or law firm in Arkansas, which allows the client to hire legal representation without having to pay any upfront fees. Instead, the attorney's fees are contingent upon the outcome of the case, typically a percentage of the settlement or judgment obtained. This type of agreement is particularly beneficial for individuals who cannot afford to pay hourly rates or retainers. In Arkansas, there are various types of contingency fee agreements available, each designed to cater to different legal matters and circumstances. Some different types of contingency fee agreements with an attorney or law firm in Arkansas include: 1. Personal injury contingency fee agreement: This agreement is commonly used in personal injury cases such as car accidents, slip and falls, or medical malpractice. The attorney agrees to represent the client in seeking compensation for injuries sustained due to someone else's negligence. The attorney's fees are usually a percentage of the settlement or award obtained. 2. Employment law contingency fee agreement: This type of agreement is relevant to employment-related cases such as wrongful termination, discrimination, or wage disputes. The attorney assists the client in pursuing compensation for damages suffered in the workplace. The attorney's fees are typically a portion of the settlement or damages recovered. 3. Product liability contingency fee agreement: When a person is injured due to a defective product, they may seek legal representation under a product liability contingency fee agreement. The attorney helps the client hold the manufacturer or distributor accountable for their injuries. The fees are often based on a percentage of the settlement obtained. 4. Medical malpractice contingency fee agreement: In Arkansas, medical malpractice cases require a specialized contingency fee agreement due to their complexity. Attorneys handling medical malpractice cases must comply with specific statutes and requirements. The fees for these cases are usually a percentage of the settlement or award received. 5. Workers' compensation contingency fee agreement: Arkansas employers are required to maintain workers' compensation insurance to cover employees' injuries and related expenses. However, there are instances when an injured worker may need legal representation to ensure they receive fair compensation. Attorneys handling workers' compensation cases often work on a contingency fee basis, with fees based on a percentage of the benefits obtained. It is important to carefully review and understand the terms of any contingency fee agreement with an attorney or law firm in Arkansas. Additionally, discussing the specific details of the agreement, including the attorney's percentage and any additional costs, prior to signing, is crucial. This ensures transparency and clarity for both the client and the attorney throughout the legal process.
