When would the contingency fee of 33 percent change to 40 percent?
Need some clarification on the following paragraph:
"Contingency Agreement. This is a contingency agreement. The attorney's fee shall be: a. 33 and 1/3 percent before Trial; b. 40 percent if the case proceed to a Trial."
Based on this language when would the 40 percent take effect?
I'm trying to find out if there would be a specific time or trigger event that would make the 40 percent come into effect.
2 Answers from Attorneys
This question should be clarified by your attorney who wrote the contract.
Generally speaking, after the final pretrial if not defined in the agreement. However, it is best to have clarification in the agreement, or in an addendum signed as early as possible.