A fee for services (as of a lawyer) paid upon successful completion of the services and usually calculated as a percentage of the gain.
Definition. A contingency fee is when you pay the attorney a set percentage of the settlement or cash award you receive as part of the legal proceedings. Generally, contingency fee agreements pertain to personal injury cases. Contingency agreement fees can start at 30 percent of the settlement or award amount and go up to 50 percent. As the client, you are responsible for paying the attorney the contingency fee out of the total amount you receive. A contingent fee (in the United States) or conditional fee (in England and Wales) is any fee for services provided where the fee is payable only if there is a favourable result. In the law, it is defined as a fee charged for a lawyer's services only if the lawsuit is successful or is favorably settled out of court.... Contingent fees are usually calculated as a percentage of the client's net recovery.. In the English legal system, it is generally referred to as no win no fee. A conditional fee agreement between a law firm and a client. The usual form of this agreement is that the solicitor will take a law case on the understanding that if lost, no payment is made. Full Definition of CONTINGENCY FEE. : a fee for services (as of a lawyer) paid upon successful completion of the services and usually calculated as a percentage of the gain realized for the client —called also contingent fee. See contingency fee defined for English-language learners. ADVERTISEMENT. contingency fee. noun. Tweet. : a payment that you make to a lawyer only if the lawyer wins your case in court. : a fee for services (as of a lawyer) paid upon successful completion of the services and usually calculated as a percentage of the gain realized for the client —called also contingent fee. See contingency fee defined for English-language learners. ADVERTISEMENT. Payment to an attorney for legal services that depends, or is contingent, upon there being some recovery or award in the case. The payment is then a percentage of the amount recovered—such as 25 percent if the matter is settled, or 30 percent if it proceeds to trial. Contingent-fee agreements are valid only in civil cases and are frequently used in personal injury cases. Court rules and statutes often regulate these fees in relation to the type of action and amount of recovery. Contingent Fee. A method of paying a lawyer for legal representation by which, instead of an hourly or per job fee, the lawyer receives a percentage of the money her client obtains after settling or winning the case.  Payment to an attorney for legal services that depends, or is contingent, upon there being some recovery or award in the case. The payment is then a percentage of the amount recovered—such as 25 percent if the matter is settled, or 30 percent if it proceeds to trial. Contingent-fee agreements are valid only in civil cases and are frequently used in personal injury cases. Court rules and statutes often regulate these fees in relation to the type of action and amount of recovery. Although fees are negotiable, a standard contingent fee in accident cases is one-third of the money won, unless particular difficulties exist with the case, making the attorney believe he/she has the right to ask for more. Contingency Fees Law & Legal Definition. Contingency fees are an arrangement for payment for an attorney's services, in which the attorney is paid out of the recovery awarded to the client. Contingency fees are usually between a fourth and a third of the amount awarded. In some states the percentage (or the maximum percentage) that a lawyer may charge by way of a contingency fee is set by law. Contingent fees are not allowed in criminal matters and rarely permitted in family law cases. They are also referred to as contingent fees. Full Definition of CONTINGENCY. 1. : the quality or state of being contingent. 2. : a contingent event or condition: as b: something liable to happen as an adjunct to or result of something else. See contingency defined for English-language learners. See contingency defined for kids. ADVERTISEMENT.  An attorney is not entitled to a contingent fee in the absence of an express contract. Contingent-fee agreements, although intensively scrutinized by the courts, are valid if equitable and reasonable to the client. Contingent-fee agreements are valid only in civil cases and are frequently used in personal injury cases. Court rules and statutes often regulate these fees in relation to the type of action and amount of recovery.
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contingency fee definition