What is a contingency fee?

This is one type of a fee arrangement our firm offers. Under our standard contingency fee arrangement, we agree to represent the client in exchange for the client’s agreement to pay us a percentage (normally 40%) of the client’s gross recovery. Our firm advances all costs on the client’s behalf, and those costs are then re-paid out of the client’s portion of the gross recovery. We do not get paid our attorneys fees unless and until there is a recovery. To give you an example of how this standard fee arrangement works, assume the client’s matter settles for $100,000 and the client’s costs are $3,000. Under our standard contingency fee agreement, we recover 40% of the $100,000, which is $40,000. The remaining $60,000 is the client’s portion, and from that the client then pays the $3,000 in advanced costs, leaving the client with a net recovery of $57,000.