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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]
An engagement letter defines the legal relationship (or engagement) between a professional firm (e.g., law, investment banking, consulting, advisory or accountancy firm) and its client(s). This letter states the terms and conditions of the engagement, principally addressing the scope of the engagement and the terms of compensation for the firm.
Side letters may also be used in relation to private fund contracts, for example a particular investor may wish to vary the terms of a limited partnership agreement with respect to that particular investor. An investor might be seeking more favourable terms under the contract or might need the side letter to enter the venture under terms to ...
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]
Social media is abuzz over a letter indicating a new “tip refund” policy will be implemented at Kansas City area Twin Peaks restaurants.. The memo, which has been reshared on Facebook ...
Whether your bank refunds money lost in a scam depends on several factors: the type of scam, how you sent the funds, the bank’s policies and if you authorized the transaction. Learn more in our ...
More than 4 million Americans gouged by credit repair companies including Lexington Law and CreditRepair.com will soon collectively receive $1.8 billion in refund checks, the Consumer Financial ...
The term "reservation of rights" (particularly a "reservation of rights letter”) is often used in connection with insurance claims. The insurance company issues a reservation of rights letter stating that it may deny coverage for some or all of the claim even while the company is investigating the claim or beginning to treat the claim as if ...
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