A retainer for a lawyer is an advance payment made to secure the lawyer's services, often covering initial fees and ensuring the lawyer's availability for your legal needs. It generally acts as a deposit, with funds drawn down as the lawyer performs work. Before you hire an attorney for ...
What Are Examples of Other Fees Outside a Retainer Fee? What Are Unearned and Earned Retainer Fees? Is It Possible to Recover Attorney’s Fees? Are There Fee Agreements Without Retainer Fees? Do I Need a Lawyer for Help With Retainer Fees? What Is a Fee Agreement? As mentioned above, an...
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A retainer agreement is a legal contract between a client and a professional (perhaps a law firm or other service provider). Let’s take a lawyer, for example. The client pays a retainer fee in advance to secure the professional’s legal services for a set number of hours rather than pay...
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Retainer with royalty In a retainer with royalty revenue share, one party receives a flat rate payment and a share of any royalties. This gives the service provider some financial security through the retainer and a potential upside through royalties. It also aligns the interests of both parties...
Employ by payment of a retainer. They retained a lawyer to handle the case. 1 Sustain Strengthen or support physically or mentally This thought had sustained him throughout the years Retain To keep possession of; continue to have The family sold the house but retained the land. Sustain Undergo...
An evergreen retainer agreement is where the client pays a deposit into a separate trust account and is then billed monthly, separate from the deposit.
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...
Aretainer feeis an upfront payment toengage a lawyer, consultant, accountant, or other professional. A typical retainer fee does not represent the final cost of the transaction. The specialist may return money from the retainer if the work finishes early, or bill additional time if the retainer...