Arbitration in Engagement Letter?

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ejalquat

Arbitration in Engagement Letter?

Postby ejalquat » Tue Apr 17, 2012 2:56 pm

I am in the process of retaining an attorney to provide a written tax opinion. In the engagement letter it states that I'm agreeing to give up a trial by jury in exchange for arbitration in case of a future dispute. Is this normal for a tax opinion engagement letter? Is it advisable? Many thanks.

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Re: Arbitration in Engagement Letter?

Postby Prof » Tue Apr 17, 2012 7:50 pm

Many standard engagement letters, my firm's included, now have a binding arbitration provision.
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ejalquat

Re: Arbitration in Engagement Letter?

Postby ejalquat » Tue Apr 17, 2012 8:24 pm

Prof wrote:Many standard engagement letters, my firm's included, now have a binding arbitration provision.


Thanks for the response.....

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Re: Arbitration in Engagement Letter?

Postby Pantherphil » Thu Apr 19, 2012 2:16 pm

Rules vary from State to State. In my State, the Board of Bar Overseers mandates that all lawyers must agree to participate in fee arbitration to assure that fees are reasonable and must advise clients of the availability of fee arbitration before the State Board. The State Board establishes fee arbitration panels which include members of the public to review all of such fee complaints. In addition, our engagement letters may (and most firms' do) include a provision for mandatory fee arbitration. Our State Supreme Court has upheld contractual provisions requiring fee arbitration.


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