An attorney’s contingency-fee rate is determined through a contingency-fee agreement, where the payment for legal assistance is contingent upon the outcome of the case. This arrangement not only provides an incentive for the attorney to work towards a fair resolution, but also eliminates the need for upfront fees.
Consider the following example to better understand this type of arrangement:
You have been injured in a motorcycle accident.
You consult with an attorney, who agrees to handle your case.
Upon examining the obligations of your case, they propose a fee of 20 percent from your eventual settlement.
The damages amount to $1 million, which your attorney successfully obtains either through negotiations or a trial.
The attorney deducts their fee from your compensation and provides you with the remaining amount.
Our legal practice determines the contingency-fee rate by taking into account various factors concerning your case, which may include:
– Your deadline for filing the case.
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