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Contingency Fee Contract
"I need a Contingency Fee Contract for my Lagos-based law firm to represent a multinational corporation in a commercial dispute, with a tiered fee structure of 20% for settlement before trial and 30% if the matter proceeds to court, including provisions for international asset recovery."
1. Parties: Identification of the attorney/law firm and client, including full legal names and addresses
2. Background: Context of the legal matter and basis for entering into the contingency fee arrangement
3. Definitions: Key terms used in the agreement, including 'Recovery Amount', 'Contingency Fee', 'Costs', and 'Disbursements'
4. Scope of Legal Services: Detailed description of the legal matter and services to be provided by the attorney
5. Contingency Fee Structure: Clear statement of the percentage(s) to be charged and how they apply to different recovery scenarios
6. Costs and Disbursements: Explanation of how litigation costs and disbursements will be handled and who is responsible for them
7. Client's Rights and Obligations: Outline of the client's responsibilities and rights under the agreement
8. Attorney's Rights and Obligations: Outline of the attorney's responsibilities and rights under the agreement
9. Termination: Conditions and procedures for termination of the agreement by either party
10. Settlement Authority: Provisions regarding authority to settle and the decision-making process
11. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes
12. Execution: Signature blocks and execution requirements
1. Multiple Attorney Provisions: Required when multiple attorneys or firms are involved in handling the case
2. Referral Fee Provisions: Needed when there is a referral arrangement with another attorney
3. Alternative Fee Arrangements: Used when including alternative fee structures if contingency is not achieved
4. International Elements: Required when the case involves international jurisdictions or foreign law elements
5. Appeals Provisions: Specific terms for handling appeals and associated fees
6. Mediation/Arbitration Clause: Optional dispute resolution mechanisms for agreement-related disputes
7. Insurance and Indemnity: Additional provisions regarding insurance coverage and indemnification
8. Conflict of Interest Provisions: Detailed provisions when potential conflicts need to be addressed
1. Fee Calculation Schedule: Detailed breakdown of how contingency fees will be calculated in different scenarios
2. Costs Schedule: List of anticipated costs and disbursements with estimated amounts
3. Client Disclosure Statement: Mandatory disclosures required by Nigerian law regarding contingency fee arrangements
4. Power of Attorney: If required for specific actions on behalf of the client
5. Case Information Sheet: Details of the legal matter, key dates, and relevant court information
6. Prior Communications: Record of relevant communications leading to the agreement
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