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Costs Agreement
"Need a Costs Agreement for my boutique corporate law firm in Singapore, covering both litigation and corporate advisory services, with specific provisions for success fees and third-party disbursements to be implemented from March 2025."
1. Parties: Identification of the law firm and client
2. Background: Context of the engagement and scope of legal services
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of legal services to be provided
5. Fee Structure: Billing rates, payment terms, and calculation methods
6. Payment Terms: Timeline and methods for payment
7. Professional Obligations: Law firm's duties and responsibilities
8. Termination: Conditions and process for ending the agreement
1. Third Party Costs: Details of disbursements and external costs, used when external services are anticipated
2. Conflicts of Interest: Disclosure of potential conflicts, used in complex matters with multiple parties
3. Insurance: Professional indemnity coverage details, used for high-risk matters
4. Confidentiality: Special confidentiality provisions, used for sensitive matters
1. Schedule of Rates: Detailed breakdown of hourly rates and fee calculations
2. Schedule of Team Members: List of lawyers and their roles on the matter
3. Cost Estimate: Detailed estimate of anticipated costs
4. Client Care Information: Standard information about client care and complaints procedures
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