How much is a retainer fee?
Again, it depends on the project or a client’s needs. A retainer fee is generally a substantial advance payment on the hourly rate for a specific matter. AMR sometimes puts the retainer in a special account and deducts from that account the cost of services and expenses as they accrue. More frequently, it is an accounting procedure. During the course of a specific engagement or project, clients should review periodic billing statements reflecting amounts deducted from the retainer. Most retainers are non-refundable unless deemed unreasonable due to the small amount of time and cost of completing a specific matter or project. If you decide to terminate a matter or project that AMR has worked on before the retainer has been exhausted, you may forfeit the remainder. What are deferred fees? Depending upon your personal financial situation, the matter before your business, you and/or your company may be eligible for AMR’s deferred billing program. AMR’s Deferred Billing program is designed
Related Questions
- On a flat-fee retainer with the entire fee held in trust, can the law firm render a statement of account for the entire quoted fee although only partial services have been performed?
- Are there out-of-pocket expenses not included in the monthly retainer fee?
- How much is the retainer fee and when is final payment due?
