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a contingency fee is a fee that is described in the fee agreement that we have with every single one of our clients here at urchins and law and a contingency fee is a fee that is contingent in amount and contingent in toto meaning if we don't get paid we aren't going to take a fee and if we do take a fee it's going to be predicated on the
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quantity of money that we recover on your behalf. So just by way of example, in a car crash, let's assume a car crash, we don't have to file a lawsuit. We are able to obtain a recovery of $100,000 for the injured individual from the insurance carrier. Our fee at the beginning of the case before it started was contingent on the outcome.
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The outcome being $100,000, we would get paid one third of that recovery as our fee, assuming we recovered the money. And the fee would then be $33,333.33. And so from the beginning, the contingency fee was one contingent on the amount and two contingent on whether or not we were able to obtain it. So that's a contingency fee.
