South Dakota Contract to Employ Law Firm - Hourly Fee with Retainer

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Multi-State
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US-0991BG
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Word; 
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Description

Agreements employing attorneys may be classified into two general categories, based on the type of fee charged by the attorney. The first category includes contingent fee agreements, or agreements under which the amount of fee payable to the attorney is contingent on the amount to be recovered, either by settlement or judgment. The other category consists of agreements in which the attorney's fee is payable whether or not there is any recovery on behalf of the client. This category includes retaining fee contracts and contracts for a fixed fee.
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  • Preview Contract to Employ Law Firm - Hourly Fee with Retainer
  • Preview Contract to Employ Law Firm - Hourly Fee with Retainer
  • Preview Contract to Employ Law Firm - Hourly Fee with Retainer
  • Preview Contract to Employ Law Firm - Hourly Fee with Retainer

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FAQ

In a definitive sense, a retainer is a fee that is paid in advance in order to hold services (ie. a wedding or event date). While a deposit may also reserve a date, it is returned when the services have been completed. A retainer is by default non-refundable and is not returned.

South Dakota State sales and use tax is 4.2%. All sales of taxable products and services, including attorney services, are subject to the state sales tax.

Hourly rates in South Dakota Lawyers in South Dakota typically charge between $108 and $341 per hour, with the average being $199. For comparison, District of Columbia has the highest average hourly rate at $392 while West Virginia has the lowest average hourly rate at $162.

Topping the list of the country's most expensive lawyers is Kirkland & Ellis partner Kirk Radke. The private equity and corporate counsel bills $1,250 per hour.

Retainers are a type of compensation agreement with lawyers either for reserving their employment or as compensation for future services. General retainers are the traditional type of retainers where a lawyer agrees to handle a case or future issues that arise for a client.

A retainer fee is the upfront cost of a service before the service has been performed. In other words, it's a form of advance payment often required by a consultant, lawyer or freelance professional. For example, a lawyer charges their client a retainer fee prior to the client using their services.

A retainer fee can be used to guarantee that the lawyer will be available to take a particular case. With this type of agreement, the client would be billed additionally for the legal work that is done.

A retainer fee is an advance payment a client makes to a professional, and it is considered a down payment on the future services rendered by that professional. Regardless of occupation, the retainer fee funds the initial expenses of the working relationship.

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South Dakota Contract to Employ Law Firm - Hourly Fee with Retainer