According to the ABA, what form must contingency fee agreements take?

Contingency fee agreements must be in writing according to the American Bar Association (ABA). This requirement serves several important purposes. First, it provides a clear record of the terms agreed upon between the lawyer and the client, which helps to avoid misunderstandings or disputes about the financial arrangements later on. A written agreement outlines the specific percentage the lawyer will receive as a fee, the circumstances under which the fee will be paid, and any other financial obligations of the client, such as costs and expenses that may not be covered by the contingency fee.

Additionally, having the agreement in writing is crucial for maintaining client trust and transparency. It ensures that clients are fully informed about how their case will be handled financially and what they can expect in terms of payment if the case is successful.

While oral agreements may seem simpler, they are more difficult to enforce and can lead to legal disputes. Options like email agreements also fall short in formalizing the agreement adequately, as they do not necessarily meet the standards expected for legal contracts. Thus, having a written contingency fee agreement is not only a best practice but a requirement to protect both the attorney and the client.