Lawyer retainer A classic example of a retainer fee is in legal services. Lawyers often require a general retainer for their availability over a certain period. This gives the client security in knowing they’ll have legal help as matters arise. The initial retainer often covers a maximum number...
Legal retainer paid in advance Advance rent payment Prepaid insurance Unearned Revenue in the Books When the business provides the good or service, the unearned revenue account is decreased with adebitand the revenue account is increased with acredit. If a business entered unearned revenue as an as...
vocabulary. In some cases, it may be wise to seek the advice of anattorneyand allow him to read through a complicated retainer agreement. If, however, the contract is provided for the purpose of obtaining legal services, the individual can simply ask for more detailed explanations of its ...
What is a retainer agreement? It's a legal contract between a client and a professional. Explore why they might be a good solution for your business.
a legal service plan contract, an individual or small business owner must fully understand the compensation scheme as well as which services the basic membership fee includes. In addition, potential members should be aware of whether there is an annual or monthly cap on the number of legal ...
Anevergreen retaineris a type of payment agreement where the client pays a deposit in advance of legal services and is placed into a separate trust account. This advance payment is not billed against by the attorney and/or law firm during the course of representation. Instead, evergreen retain...
This is not only for practical reasons; it’s a legal obligation for business-to-business transactions in most countries.2. A unique invoice numberEach invoice document should have its own reference number, and your bookkeeping system should keep a record of the numbers used. Your customers ...
In popular culture, a retainer is commonly understood to be a situation where professional help is always available as required based on a retainer payment. The payment is made not for the professional help itself but for having it available when needed. With a retainer invoice, advance payment...
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(legal) The right to withhold a debt, or of retaining property until a debt due to the person claiming the right is duly paid; a lien. (Erskine) (Craig) Related terms * retentive * retentiveness * retentivity * retentor Anagrams