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Anatomy Of The Collections Process:  An Overview With Efficiency Tips From A Seasoned Collections Lawyer

Attachment 2

Fee Agreement - Contingent

[Client name]




This is to confirm our agreement concerning our firm's repre­sentation of [Client] in connection with claim() against [Debtor], and any other collection matters handled by the firm.

(1)Unless provided by written agreement, our representation will be provided on a contingent fee basis.  If we collect this matter/these matters without the necessity of suit, all sums recovered including the account amount and any interest thereon will be divided 1/3 to _____________ and 2/3 to [Client] as the funds are received.  

If we are required to file suit to collect on any matters, all sums recovered including the account amount, attorney’s fees, and any interest thereon will be divided 1/3 to ___________. and 2/3 to [Client] as the funds are received.  All court costs recovered will be reimbursed to [Client] out of the last funds received.

In the event a counterclaim is asserted, we reserve the right to convert this file to an hourly fee basis whereby our time will be billed at our usual hourly rates as described in paragraph (4) below.

(2)[Client] will be invoiced for all expenses incurred in connection with this matter/, including expert witness fees, travel costs, deposition costs, long distance telephone charges, copying expenses, court costs, and any other charges attributable to this matter/ .  We will require a $50.00 cost retainer from [Client], against which we will bill on a monthly basis for expenses incurred.  Additionally, if suit becomes necessary, we will require a court cost and service fee retainer of $195.00 per file.  Once the cost retainer is depleted, we reserve the right to request additional retainers of at least $50.00 each from  time to time. Upon completion of all matters, any unused retainer will be refunded.  All fees and expenses will be invoiced on a monthly basis.  Billings are due upon receipt and payment is considered late if made more than thirty (30) days after receipt of the invoice without prior approval.

(3)We reserve the right to withdraw our representation for any reason.  In that event we forfeit any rights to the contingent fee, although [client] will not be relieved of its obligation to pay costs provided herein (see next paragraph for provisions of withdrawal for non-payment of costs).

(4)In the event [client] terminates ______________’s representation of [client] in this matter/these matters without cause, or in the event additional cost retainers are not paid in a timely matter, [client] will agree to pay _______________ for all time expended on this matter/these matters as if it had been accepted on an hourly fee basis whereby time expended by various lawyer and non-lawyer persons in our office will be reimbursed at their respective hourly rates in effect at the time the work is performed.  The current hourly rates for the litigation personnel who may be expected to work on these cases are: ______________ for $__________ per hour; ___________ for $_________ per hour; and legal assistants and law clerks for $__________  per hour.


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