What’s a Retainer Agreement?
A Retainer Agreement is an alternative fee agreement with an attorney, usually at reduced monthly tariffs.
There is nothing magical about retainer agreements, except that retainer agreements:
- Reduce legal fees;
- Eliminate surprising legal fees; and
- Limit spending on legal fees to a fixed-monthly amount.
Attorneys are usually willing to lower their hourly rates in exchange for a continuous flow of work.
Until recently Retainer Agreements were exclusive to businesses, but Botha Bezuidenhout Attorneys Inc. recognised the need for Retainer Agreements for individuals, especially when it comes to litigation costs.
The Future of Retainer Agreements
We offer Litigation Retainer options to both businesses and individuals. Our Business Retainer options still cater for the business that needs a variety of ongoing legal services on demand, but the Litigation Retainer provides an affordable solution for litigation by individuals or businesses.
Litigation is nothing else than the “need for legal services on a continuous basis”, but unlike a business that needs a variety of services on demand, individuals usually only need one service – representation in litigation.
Litigation costs are impossible to estimate, and the unpredictably high cost thereof has a deterrent effect on most individuals. Our Litigation Retainer option allows any salary-drawing individual to be able to afford litigation.
Retainer options are not only more affordable than paying attorneys’ normal fees, it also eliminates bill shocks and the general uncertainty and unpredictability of legal fees. A fixed monthly amount also eliminates strife between attorneys and clients when it comes to payments.
The only difference between litigation- and traditional retainer options, is that the Litigation Retainer is based on a fixed monthly fee per litigation matter irrespective of the actual time spent, whereas traditional retainer options are based on the average number of hours’ services required by a business, irrespective of the number of matters.
We offer an exclusive Retainer Option for startup businesses. If your business has been trading for 6 months or less, you business automatically qualifies for 50% discount on the monthly retainer for the first 3 months, and 25% discount for the next 3 months. The full retainer amount is therefore only payable from the 7th month.
Sign Up HERE
Businesses that are trading for more than 6 months can choose any number of hours, or select an option from our most popular options. We prioritise service delivery to our retainer clients.
All litigation matters qualify for retainer agreements. Litigation Retainers are available to businesses and individuals, and are paid per litigation matter.
The monthly retainer fee depends on the nature, complexity and amount of work that the matter requires, but the Litigation Retainer on average saves the client approximately 50% – 70% in litigation costs.
Retainer Agreements provide the perfect solution to make legal fees affordable, ensure consistency and predictability of legal fees, and eliminate strife about payments.