A contingency agreement is an agreement between a plaintiff and an attorney, which states that the lawyer will represent the plaintiff with no money to pay upfront. In these situations, the plaintiff pays the lawyer only if the lawyer wins the case. When a lawyer is paid on a contingent basis, they share that risk with you. They don't pay him unless you do.
In addition, they pay you more if they pay you more. This gives you more incentive to work harder and achieve a favorable outcome for your case. However, personal injury lawyers work differently. Most, including our firm, set their prices based on a contingency fee rather than an hourly rate.
Contingent means “dependent on something else,” and in this case, it means that your attorney's fees depend on you winning your case. If you don't win, you don't need to pay your lawyer. The primary definition of a contingency charge is a fee agreement that allows you to avoid out-of-pocket expenses altogether. It's a percentage of the settlement you get if you win your case.
Contingency fee cases can sometimes be considered a risk, because the lawyer is not paid unless he wins the case. However, the risk is lower if you are more likely to win your case. With a lower risk, you're more likely to find an attorney willing to take the case. No win, no fee, personal injury lawyers are the most likely to hire a client on a contingent basis.