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Flat Fee Retainer Agreement

Flat Fee Retainer Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Flat Fee Retainer Agreement

I need a Flat Fee Retainer Agreement for my Hong Kong fintech startup to engage a law firm for ongoing corporate legal support, compliance matters, and regulatory filings, with a fixed monthly fee structure starting from January 2025.

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Document background
The Flat Fee Retainer Agreement is essential for businesses and individuals seeking legal services in Hong Kong with predictable costs. This document is typically used when a client requires ongoing legal services or a specific legal project with a predetermined scope and fixed fee structure. It provides clarity on service delivery, cost certainty, and professional obligations while complying with Hong Kong's legal framework. The agreement is particularly valuable for businesses budgeting for legal expenses and law firms streamlining their fee arrangements. It addresses key aspects such as scope of services, payment terms, confidentiality, and professional obligations, all within the context of Hong Kong's legal system and professional practice requirements.
Suggested Sections

1. Parties: Identification of the law firm and the client, including full legal names and addresses

2. Background: Context of the engagement and brief description of the client's need for legal services

3. Definitions: Key terms used throughout the agreement

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

5. Fees and Payment Terms: Fixed fee amount, payment schedule, and what the fee covers

6. Client Obligations: Client's responsibilities including providing information and cooperation

7. Term and Termination: Duration of the agreement and circumstances for termination

8. Confidentiality: Obligations regarding confidential information and client privilege

9. Conflicts of Interest: Statement regarding conflict checks and handling potential conflicts

10. Professional Indemnity: Details of professional liability coverage and limitations

11. Governing Law and Jurisdiction: Specification of Hong Kong law and jurisdiction

12. Entire Agreement: Integration clause confirming the agreement represents the complete understanding between parties

Optional Sections

1. Anti-Money Laundering Compliance: Additional provisions for high-risk clients or transactions requiring enhanced due diligence

2. Intellectual Property Rights: Include when services involve IP-related work or creation of materials

3. Force Majeure: Include for long-term retainers or when specific risks need to be addressed

4. Data Protection: Detailed privacy provisions when significant personal data processing is involved

5. Third Party Rights: Include when third parties might have enforceable rights under the agreement

6. Alternative Dispute Resolution: Include when parties prefer mediation or arbitration before litigation

7. Currency and Tax Provisions: Include for international clients or cross-border services

Suggested Schedules

1. Schedule 1 - Detailed Scope of Services: Comprehensive breakdown of included and excluded services

2. Schedule 2 - Fee Schedule: Detailed breakdown of the flat fee, payment milestones, and any additional costs

3. Schedule 3 - Key Personnel: List of primary lawyers and staff assigned to the matter

4. Appendix A - Client Care Information: Standard information about the firm's complaints procedure and client care policies

5. Appendix B - Terms and Conditions: Firm's standard terms and conditions applicable to the retainer

6. Appendix C - Data Protection Policy: Firm's privacy policy and data protection procedures

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Legal Services

Financial Services

Technology

Real Estate

Manufacturing

Retail

Healthcare

Professional Services

Entertainment

Education

Construction

Import/Export

Telecommunications

Hospitality

Relevant Teams

Legal

Finance

Procurement

Compliance

Risk Management

Executive Leadership

Operations

Corporate Secretariat

Business Development

Administrative

Relevant Roles

General Counsel

Legal Director

Chief Legal Officer

Company Secretary

Chief Executive Officer

Chief Financial Officer

Managing Partner

Legal Operations Manager

Procurement Manager

Contract Manager

Risk Manager

Compliance Officer

Business Development Director

Finance Director

Industries
Legal Practitioners Ordinance (Cap. 159): Primary legislation governing the legal profession in Hong Kong, including regulations on legal practice, professional requirements, and fee arrangements
Supply of Services (Implied Terms) Ordinance (Cap. 457): Legislation governing service contracts in Hong Kong, establishing implied terms for service quality and reasonable care
Personal Data (Privacy) Ordinance (Cap. 486): Regulates the collection, handling, and protection of personal data, relevant for client information management
Law Society of Hong Kong's Practice Directions: Professional guidelines issued by the Law Society, including specific directions on fee arrangements and client relationships
Contract Ordinance (Cap. 26): Governs contract formation, validity, and enforcement in Hong Kong, essential for structuring the retainer agreement
Hong Kong Solicitors' Guide to Professional Conduct: Ethical guidelines for legal practitioners, including rules on fee arrangements, conflicts of interest, and client communications
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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