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Conditional Fee Agreement
"I need a Conditional Fee Agreement for a corporate client in the construction sector, where we'll charge 60% of our standard rates upfront and a 40% success fee if we win their breach of contract case, with the agreement starting March 1, 2025."
1. Parties: Identification of the lawyer/law firm and the client, including full legal names and addresses
2. Background: Context of the legal matter and purpose of the agreement
3. Definitions: Key terms used in the agreement, including 'Success', 'Basic Fees', 'Success Fee', and 'Proceedings'
4. Scope of Legal Services: Detailed description of the legal services to be provided and the specific matter being handled
5. Success Criteria: Clear definition of what constitutes 'success' in the matter and triggers the success fee
6. Basic Fees: Details of standard fees payable regardless of outcome
7. Success Fee: Calculation method and amount of additional fees payable upon achieving success
8. Payment Terms: Timeline and method of payment for both basic and success fees
9. Costs and Disbursements: Treatment of court fees, expert fees, and other disbursements
10. Client's Obligations: Client's responsibilities including providing information and cooperation
11. Termination: Circumstances under which the agreement can be terminated and consequences
12. Governing Law: Specification that Pakistani law governs the agreement
13. Dispute Resolution: Process for resolving any disputes arising from the agreement
1. Insurance Arrangements: Details of any relevant insurance coverage - include if client has legal expenses insurance
2. Third Party Funding: Include if external funding is being used to finance the litigation
3. Risk Assessment: Detailed assessment of case risks - include for complex cases or high-value claims
4. Alternative Fee Arrangements: Include if offering alternative payment options besides the conditional fee
5. Conflict of Interest: Include if there are potential conflicts that need to be disclosed and managed
6. Confidentiality: Detailed confidentiality provisions - include for sensitive matters
7. Assignment: Include if either party needs the right to transfer the agreement to another party
1. Schedule 1: Fee Calculation: Detailed breakdown of how basic fees and success fees are calculated
2. Schedule 2: Disbursements: List of anticipated disbursements and their treatment
3. Schedule 3: Risk Assessment: Detailed analysis of case prospects and risks
4. Schedule 4: Scope of Work: Detailed description of legal services to be provided
5. Appendix A: Client Care Letter: Standard terms of business and client care information
6. Appendix B: Case Summary: Brief summary of the case and its current status
Authors
Legal Services
Financial Services
Insurance
Professional Services
Banking
Construction
Manufacturing
Real Estate
Healthcare
Technology
Retail
Energy
Legal
Compliance
Risk Management
Finance
Operations
Procurement
Contracts Administration
Dispute Resolution
General Counsel
Legal Director
Chief Legal Officer
Head of Legal
Compliance Officer
Risk Manager
Legal Operations Manager
Contract Manager
Litigation Manager
Finance Director
Chief Financial Officer
Managing Partner
Senior Partner
Associate Lawyer
Legal Consultant
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