contingency fee

Thân thiện

The attorney agreed to a contingency fee for the case.

Definition

1. Noun:
   • A fee that is payable only if the outcome is successful: A contingency fee is a payment arrangement, typically for professional services like those of an attorney, where the fee is collected only if a specific, successful result is achieved. The amount is often a predetermined percentage of the value recovered.

Usage Examples

• Noun:
  • The lawyer agreed to take the case on a contingency fee basis, so we pay nothing unless we win.
  • Contingency fees make legal representation accessible to clients who cannot afford hourly rates.
  • Her contract stipulated a 30% contingency fee for securing the business deal.

Advanced Usage

• "on a contingency fee basis": Describes the method of payment being contingent on success.
  • Many personal injury attorneys work on a contingency fee basis.

Variants and Related Words

• Contingent fee: An alternative term with the same meaning as "contingency fee."
• Success fee: A similar term used in some contexts and jurisdictions for a fee payable only upon success.

Synonyms

• Conditional fee: A fee dependent on a specific condition being met.
• No-win, no-fee: A descriptive phrase for arrangements, common in legal contexts, where payment is contingent on a successful outcome.

Related Phrases

• Contingency fee agreement: The formal contract outlining the terms of the contingency fee arrangement.
  • Before proceeding, the client signed a detailed contingency fee agreement.

Học thuật

Noun

1. a fee that is payable only if the outcome is successful (as for an attorney's services)