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It is common for a person seeking the services of a lawyer (attorney) to pay a retainer ("retainer fee") to the lawyer, to see a case through to its conclusion. [2] A retainer can be a single advance payment or a recurring (e.g. monthly) payment. Absent an agreement to the contrary, a retainer fee is refundable if the work is not performed. [3]
Retainer fees are fixed, typically annual or quarterly payments for ongoing access to financial advisory services. Other pricing models include income-based pricing, which calculates fees as a ...
In private practice, they may work for an hourly fee according to a billable hour structure, [183] a contingency fee, [184] or a lump sum payment. Normally, most lawyers negotiate a written fee agreement up front and may require a non-refundable retainer in advance.
However, the attorney must refund any portion of the retainer or other fees paid that exceeds what the attorney has earned during the representation. The attorney must notify the client of the withdrawal prior to ceasing his work on the case, must make a reasonable effort to assist the client in obtaining new counsel, and must cooperate with ...
Contingent fees or "success fees" (성공보수금) are a widespread practice in South Korea. Until 2015, they were used in both criminal and civil litigation. [13] In some civil cases, courts have rejected fees exceeding 10% of the award as unjust enrichment of the attorney, requiring the attorney to refund the excess to the client. [14]
While individuals are required to opt in to the services, a 2023 Pew poll found that 71% of Americans felt a $35 fee was unfair (75% said a $10 fee would be fine).
"A nonrefundable retainer," he and his co-author wrote, "is an agreement between lawyer and client providing for the payment of part or all of the fee in advance of the lawyer's performance. The payment is designated in the retainer agreement as nonrefundable.
Concierge medicine, also known as retainer medicine, is a relationship between a patient and a primary care physician in which the patient pays an annual fee or retainer. In exchange for the retainer, doctors agree to provide enhanced care, including commitments to ensure adequate time and availability for each patient.