What to Include in an Expert Retention Agreement

It’s always best to put your fee agreement with an expert into writing. Here are the most important provisions to include in an expert retention letter agreement. Billing. State the amount per hour the expert will be paid for his or her services. Also state that the expert will be reimbursed for reasonable and necessary out-of-pocket expenses incurred in connection with the engagement, such as travel, copying, postage, and courier costs. You may want to require prior approval for any single expense above a stated amount. Require that the expert keep records of time and expenses, and submit monthly invoices. You may also want to include what will not be reimbursed, e.g.: Please note that you will not be reimbursed for overhead expenses, disbursements other than actual costs, meals other than reasonable travel meals, travel time other than time spent actually working on the Action, or any airfare other than coach. As an independent contractor and not an employee of either…

Read more detail on Recent Real Estate and Property Law posts –

This entry was posted in Real Estate & Property Law and tagged , , , . Bookmark the permalink.

Leave a Reply