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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] The retainer agreement may serve as the basis of authority for a legal advocate.
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 ...
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 ...
Money within the retainer is often used to "buy" a certain amount of work. Some contracts provide that when the money from the retainer is gone, the fee is renegotiated. This is to be differentiated between a retainer in Commonwealth states, where a retainer is the contract that is initially signed by a client to engage a lawyer.
MORE: Overdraft fees could be capped at $5 under new federal rule. The change is part of a broader push from the administration of President Joe Biden to lower costs as households have been ...
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.
Bottom line. Ultimately, whether you can retire on less than $1 million will largely depend on your spending needs during retirement and your remaining life expectancy.
Retainage is a portion of the agreed upon contract price deliberately withheld until the work is complete to assure that contractor or subcontractor will satisfy its obligations and complete a construction project. [1]
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