Retainer And Contingency Fee Agreement Template for Singapore

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Key Requirements PROMPT example:

Retainer And Contingency Fee Agreement

"Need a Retainer And Contingency Fee Agreement for our Singapore law firm to engage a major financial institution, with monthly retainer of S$15,000 and success fees for corporate litigation matters, starting March 2025."

Document background
The Retainer And Contingency Fee Agreement is essential for establishing clear terms between legal service providers and clients in Singapore. While pure contingency arrangements are prohibited under Singapore law, this agreement structure combines a fixed retainer with permissible success-based elements. The document ensures compliance with the Legal Profession Act and Professional Conduct Rules while providing transparency in fee arrangements and service scope. It's particularly useful for ongoing legal relationships requiring regular services with potential additional compensation based on outcomes.
Suggested Sections

1. Parties: Identification of the law firm and client with full details

2. Background: Context of the engagement and nature of legal services required

3. Definitions: Key terms used in the agreement including billing periods, rates, etc.

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

5. Fee Structure: Retainer amount, billing rates, and payment terms

6. Billing and Payment Terms: Frequency of billing, payment methods, and late payment consequences

7. Term and Termination: Duration of agreement and termination provisions

Optional Sections

1. Conflict Resolution: Procedures for resolving disputes, use when dealing with sophisticated clients

2. Confidentiality: Detailed privacy provisions, recommended for sensitive matters

3. Third Party Costs: Handling of external costs, use when third-party services are likely

Suggested Schedules

1. Fee Schedule: Detailed breakdown of hourly rates and retainer calculations

2. Scope of Work: Detailed description of specific services covered

3. Team Structure: List of key personnel and their roles

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

Industries

Legal Profession Act (Cap. 161): Primary legislation governing legal practice in Singapore, particularly Section 107 regarding remuneration of advocates and solicitors, and rules on professional conduct and fee arrangements

Legal Profession (Professional Conduct) Rules 2015: Subsidiary legislation focusing on Rule 17 regarding fee arrangements, and regulations governing client communication and billing transparency

Legal Profession (Solicitors' Remuneration) Order: Regulatory framework providing guidelines on proper fee structures and permissible billing practices for legal services in Singapore

Champerty and Maintenance Doctrine: Common law doctrine that generally prohibits pure contingency fee arrangements and 'no win, no fee' agreements in Singapore

Professional Ethics Requirements: Mandatory requirements for clear disclosure of fee structure, explanation of billing methods to clients, and ensuring fees are fair and reasonable

Law Society of Singapore Guidelines: Professional guidelines including practice directions regarding fee arrangements, recommended billing practices, and professional standards compliance requirements

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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