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  • Law Firm True Retainer Agreement

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    Patrick Duncan
    218 views2 pages
    This true retainer agreement establishes an attorney-client relationship between a corporation and a law firm. It outlines the terms of a non-refundable true retainer, including advance payment of an initial two-month retainer and monthly retainers thereafter. The retainer secures the law firm's time, estimated at 8 days per month, at a discounted hourly rate. The initial term is six months, then month-to-month, and can be terminated by either party with 30 days notice. The agreement covers billing rates, scheduling, additional work, and termination terms.

    Original Description:

    True retainer (money earned on receipt, no use of trust account)

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    This true retainer agreement establishes an attorney-client relationship between a corporation and a law firm. It outlines the terms of a non-refundable true retainer, including advance payment of an initial two-month retainer and monthly retainers thereafter. The retainer secures the law firm's time, estimated at 8 days per month, at a discounted hourly rate. The initial term is six months, then month-to-month, and can be terminated by either party with 30 days notice. The agreement covers billing rates, scheduling, additional work, and termination terms.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    218 views2 pages

    Law Firm True Retainer Agreement

    Uploaded by

    Patrick Duncan
    This true retainer agreement establishes an attorney-client relationship between a corporation and a law firm. It outlines the terms of a non-refundable true retainer, including advance payment of an initial two-month retainer and monthly retainers thereafter. The retainer secures the law firm's time, estimated at 8 days per month, at a discounted hourly rate. The initial term is six months, then month-to-month, and can be terminated by either party with 30 days notice. The agreement covers billing rates, scheduling, additional work, and termination terms.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    of 2

    REV1

    TRUE RETAINER AGREEMENT

    This true retainer agreement (“Agreement”) is entered into by and between _________
    Corporation (“Client”) and _______________ (“Attorney”). Client and Attorney may be
    singularly or collectively referred to in this Agreement as a “Party” or the “Parties”. The
    effective date of this Agreement (“Effective Date”) shall be the date of the final signature
    at the end of this Agreement.

    THE PARTIES AGREE AS FOLLOWS:

    1. True Retainer and Billing Rate


    (a) Acknowledgements: Client acknowledges the following: (i) Attorney’s time is
    valuable and cannot be replaced if not used; (ii) the true retainer is paid in exchange for
    securing a reservation of Attorney’s time; (iii) true retainer payments are for the
    reservation of time during individual monthly periods, even if that time is not used; and
    (iv) the true retainer payments are (1) not “advance fee payments”, (2) fully earned upon
    receipt by Attorney, and (3) will not be placed in a “client trust account” (i.e., CRPC Rule
    4-100(A) is inapplicable per CRPC Rule 3-700(D)(2) and Baranowski v. State Bar of
    California, 24 Cal.3d 153, 164 n.4).
    (b) True Retainer Payments: Client shall pay Attorney an initial non-refundable true
    retainer of [2 month retainer] dollars (US$ ________) within ten (10) days of the
    Effective Date. Each month thereafter, Client shall pay an additional non-refundable true
    retainer of [1 month retainer] dollars (US$ ___________). True retainer payments shall
    reserve for the benefit of Client approximately [number of days] 8-hour days per
    individual month for the term of the Agreement. Time not used during an individual
    month will be forfeited (i.e., it will not be carried over to the following month).
    (c) Scheduling: The Parties shall use their best efforts to schedule Attorney’s time in
    advance and to use Attorney’s time in approximate equal portions of two 8-hour days per
    week. If the Parties cannot agree on a schedule, then a maximum of eight days per month
    will be scheduled and made available to Client at Attorney’s convenience.
    (d) Hourly Rate: Attorney’s hourly rate is US$ [non-discounted hourly rate].
    Advance true retainer payments under this Agreement secure a equivalent rate of US$
    [discounted hourly rate] for the reserved monthly time only.
    (e) Additional Time: Attorney has no obligation to perform work in excess of the
    reserved monthly time for each individual month. If reserved monthly time is consumed
    prior to the end of an individual month, Attorney may at his sole option: (i) cease work
    for Client during that individual month; or (ii) continue work for Client at the hourly rate
    (US$ [non-discounted rate]), drawing from a client trust account and billing the
    remaining balance on net thirty terms.

    1
    REV1

    2. Term
    (a) Initial Six Month Term, Then Month-to-Month: The Agreement shall begin with
    a six (6) month term. Thereafter, the Agreement shall continue on a month-to-month
    basis until either Party terminates the Agreement, for any reason, by providing thirty (30)
    days written notice to the other Party. Any adjustments in Attorney’s billing rate must be
    communicated to Client prior to a thirty (30) day notice period.
    (b) Termination by Attorney: For situations not covered by Section 2a, Attorney may
    terminate his representation of Client with consent or for “good cause”, as defined in
    What Clients Should Know. “Good cause” also includes Client’s breach of this
    Agreement.
    (c) Termination by Client: Subject to its true retainer payment obligations under this
    Agreement, Client may terminate Attorney’s representation of Client at any time for any
    reason. Only in the event that Attorney’s representation was terminated due to
    Attorney’s breach of this Agreement: (i) Attorney shall return to Client true retainer
    payments for unscheduled reserved time; and (ii) Client’s pending obligations to pay
    further true retainer payments shall be rescinded.

    3. Signatures
    This Agreement takes effect upon the signature below of both Parties. Attorney has no
    obligation to perform work for Client until Client pays the initial non-refundable true
    retainer specified in Section 1b. The signature below by Client creates a firm offer that is
    non-revocable for a period of thirty (30) days from the date of Client’s signature.

    [Client Name] [Attorney Name]


    [Client Address]

    Signature Date [Printed Name] Date

    Printed Name

    Titel

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