Contingency Fee - an
attorney fee based on the outcome or results obtained by the attorney
for the client, usually expressed as a percentage (%) of the total
recovery obtained by the lawyer.
Flat Fee - an
attorney fee based on a set job or total services to be performed
by the lawyer for the client, expressed as a flat or set total
amount.
Hourly Fee - an
attorney fee based on some set hourly rate, which is to be paid
as work is performed by the lawyer for the client.
Hybrid or Mixed Fee -
an attorney fee based on a combination of fees (above),
which can include
- some hourly or flat fee
in combination with a contingency fee
(for example, a reduced hourly rate plus some contingency fee)
- some hourly fee in combination
with a flat fee
(for example, an houly fee with a maximum/cap, or a minimum
flat fee for some services with hourly rates for others)
Retainers -
an amount deposited with the attorney in order to secure payment
of fees (above) as they are earned, or the lawyer's undivided
"on-call" attention. Retainers are deposited and held
in a special client trust account, which every lawyer maintains
at a bank as required by the State Bar. Monies from the retainer
are usually withdrawn as they are earned, after the lawyer sends
the client an itemized statement of charges for services performed.
