Common use of Deposit (Par Clause in Contracts

Deposit (Par. 4) This is an optional clause. Fill in the amount of any deposit and the date by which it must be paid. An attorney cannot withdraw funds from the trust account without the client’s express authorization. We have provided for that authorization. If a more cautious approach to the authorization question is preferred, the attorney might provide that sums will be withdrawn from the trust account only after they are invoiced to client and “x” days pass without client’s protest of any of the charges. The attorney need not require a deposit of any kind. This paragraph sets forth one way to handle the deposit if the attorney opts for one. This clause places a ceiling on further deposits. Without a ceiling, the right to require further deposits is so open-ended that it might be unenforceable for uncertainty. In addition, provision is made for advance payment of all fees and costs to be incurred in preparing for and conducting trial or arbitration. Because it is calculated based on objective facts, no ceiling has been placed on the pre-trial deposit.

Deposit (Par. 4) This is an optional clause. Fill in the amount of any deposit and the date by which it must be paid. An attorney cannot withdraw funds from the trust account without the client’s 's express authorization. We have provided for that authorization. If a more cautious approach to the authorization question is preferred, the attorney might provide that sums will be withdrawn from the trust account only after they are invoiced to client and “"x” " days pass without client’s 's protest of any of the charges. The attorney need not require a deposit of any kind. This paragraph sets forth one way to handle the deposit if the attorney opts for one. This clause places a ceiling on further deposits. Without a ceiling, the right to require further deposits is so open-open ended that it might be unenforceable for uncertainty. In addition, provision is made for advance payment of all fees and costs to be incurred in preparing for and conducting trial or arbitration. Because it is calculated based on objective facts, no ceiling has been placed on the pre-trial deposit. The "Replenishing Deposit' clause provided in the "Additional Provisions" forms may be used as an alternative.