What does retainer only mean?
A retainer fee is an amount of money paid upfront to secure the services of a consultant, freelancer, lawyer, or other professional. These fees, almost always paid upfront, only ensure the commitment of the receiver. In addition, retainer fees usually do not represent the total final cost of the services provided.
Do you have to wear a retainer forever?
To maintain a straight smile for a lifetime, you’re going to need to wear your retainers nightly for the rest of your life. Though the process becomes slower and slower, if you stop wearing your retainer, your teeth will gradually move back to their original position. In a way, teeth remember their original position.
When does an attorney claim a retainer fee?
The attorney cannot claim the retainer fee until he has completed the work and invoiced the client. Any remaining retainer fee after paying the hourly attorney fees should be returned to the client.
How are retainer fees distributed to the client?
Distribution of retainer fees can also be based on tasks or milestones. For example, a lawyer may receive 25% of the retainer fee after completing the pre-trial process. A retainer fee is a payment made to a professional, often a lawyer, by a client for future services. Retainer fees do not guarantee an outcome or final product.
When is a retainer fee considered unearned?
Retainer fees are earned once services have been fully rendered. In the example above, the retainer is considered unearned until the court case is closed and finalized. These unearned fees do not belong to the person performing the tasks, in this case, the lawyer until work actually begins.
What does it mean to have a retainer agreement?
n. the advance payment to an attorney for services to be performed, intended to insure that the lawyer will represent the client and that the lawyer will be paid at least that amount. Commonly in matters which will involve extensive work there will be a retainer agreement signed by the attorney and client.
The attorney cannot claim the retainer fee until he has completed the work and invoiced the client. Any remaining retainer fee after paying the hourly attorney fees should be returned to the client.
Distribution of retainer fees can also be based on tasks or milestones. For example, a lawyer may receive 25% of the retainer fee after completing the pre-trial process. A retainer fee is a payment made to a professional, often a lawyer, by a client for future services. Retainer fees do not guarantee an outcome or final product.
Retainer fees are earned once services have been fully rendered. In the example above, the retainer is considered unearned until the court case is closed and finalized. These unearned fees do not belong to the person performing the tasks, in this case, the lawyer until work actually begins.
LITIGATION RETAINER AGREEMENT THIS LITIGATION RETAINER AGREEMENT (“Agreement”) is entered into on the earliest date shown below by and between [CLIENT](“Client”) and CISLO & THOMAS LLP (“Attorneys”). 1. Scope of Agreement Client hires Attorneys to provide legal services to Client in the matter of [Services/Case]