Engagement (Retainer) Letter: Hourly Fee Arrangement

by Practical Law Litigation

A Standard Document providing a model engagement letter, also known as a retainer letter or retainer agreement, for memorializing the terms of representation between a client and outside counsel using an hourly fee structure. This Standard Document is designed to reduce the risk of misunderstanding by clearly defining the attorney-client relationship before work commences. It outlines fundamental provisions such as the scope of the engagement, the duties of each party, and fee structures. It also contains optional clauses for handling joint representations, known conflicts, and advance conflict waivers. This Standard Document addresses key practicalities like termination rights, client document retention, dispute resolution through arbitration, the use of generative AI (GenAI) and other AI tools, and considerations for the Corporate Transparency Act (CTA). It serves as a crucial starting point that can be tailored to meet specific client needs and comply with local ethics rules.