Contingency Fee Agreement Generator for Singapore

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Key Requirements PROMPT example:

Contingency Fee Agreement

"Need to draft a Contingency Fee Agreement for our law firm representing a corporate client in a commercial dispute, but we need to ensure it complies with Singapore law by structuring it as a staged payment arrangement instead of success-based fees."

Document background

Contingency Fee Agreements typically structure legal fees as a percentage of the amount recovered in a case, but such arrangements are explicitly prohibited in Singapore. The Legal Profession Act 1966 Section 107(1)(b) bars lawyers from receiving remuneration dependent on claim success, considering such arrangements champertous. When seeking to establish fee arrangements in Singapore, alternative structures must be used that comply with local regulations while still providing clarity on fee expectations and payment terms.

Suggested Sections

1. Parties: Identification of the law firm and client with full legal names and addresses

2. Background: Context of the legal matter and reason for engagement, including reference to Singapore legal restrictions on contingency fees

3. Definitions: Key terms used throughout the agreement

4. Alternative Fee Structure: Clearly defined fee arrangement that complies with Singapore law, specifying fixed fees or time-based billing structure

5. Scope of Services: Detailed description of legal services to be provided

6. Payment Terms: Timeline and method of payment, including billing intervals and payment requirements

7. Termination: Conditions under which either party may terminate the agreement

Optional Sections

1. Conflicts of Interest: Declaration of any potential conflicts, to be included when relevant to the specific engagement

2. Third Party Costs: Treatment of external costs and disbursements, include when external services may be required

3. Client Obligations: Specific client responsibilities, include for complex matters requiring significant client cooperation

Suggested Schedules

1. Fee Schedule: Detailed breakdown of fee structure, hourly rates, or fixed fees as applicable

2. Scope of Work: Detailed description of services to be provided, including any limitations or exclusions

3. Team Structure: List of lawyers and staff assigned to the matter with their respective roles and responsibilities

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Agreement
Services
Fees
Client
Law Firm
Matter
Effective Date
Disbursements
Payment Schedule
Professional Team
Billing Period
Termination Date
Confidential Information
Business Day
Force Majeure Event

Clauses

Relevant Industries

Legal Services
Professional Services
Financial Services
Insurance

Relevant Teams

Legal
Finance
Compliance
Risk Management
Operations

Relevant Roles

Managing Partner
Legal Partner
General Counsel
Chief Legal Officer
Chief Financial Officer

How Genie AI reduced drafting time by 75% for a legal firm

Let's create your Contingency Fee Agreement

Authors

Alex Denne

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