contingent fee definition

contingent fee

Method of remunerating agents, brokers, lawyers, etc., in which no fee is paid until the objective(s) of the arrangement (a court case, contract, sale, etc.) is won or achieved. However, the principal (client) is usually responsible for statutory charges and incidental expenses incurred in course of the action. Also called contingency fee.

contingent fee is in the Accounting & Auditing and Banking, Commerce & Finance subjects.

contingent fee appears in the definition of the following term: contingency fee

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