Engagement letter意思
An engagement letter is a document that outlines the terms of an agreement between a client and a professional service provider, such as an attorney, accountant, consultant, or other professional. The letter serves as a formal agreement that outlines the scope of work, the fees involved, and any other relevant details of the professional relationship.
The engagement letter typically includes the following information:
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Introduction: This section introduces the service provider and the client, and explains the purpose of the engagement letter.
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Scope of Work: This outlines the specific services that the professional will provide to the client. It may also include any limitations on the services, such as the professional's responsibility only to provide advice and not to act as a decision-maker for the client.
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Fees and Payment Terms: This section details how much the professional will charge for their services and how the client will pay these fees. It may include hourly rates, flat fees, or other payment structures.
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Confidentiality: Many engagement letters include a confidentiality clause, which ensures that any information shared between the client and the professional will be kept confidential.
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Termination: This section outlines how either the client or the professional can terminate the agreement. It may also include any notice requirements for termination.
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Dispute Resolution: This outlines how any disputes between the client and the professional will be resolved, such as through mediation or arbitration.
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Signature: Finally, both the client and the professional will sign the engagement letter to indicate their agreement to the terms outlined in the letter.
Engagement letters are important because they provide a clear understanding of the professional relationship between the client and the service provider. They can help to avoid misunderstandings and disputes down the line by clearly outlining the expectations and responsibilities of both parties.