What is contingent fee in SAP ORG-LX-T9N - Team: Corporate Translation?

SAP Term: contingent fee

• Component: ORG-LX-T9N

• Component Name: Team: Corporate Translation

• Description: Fee paid, typically to an audit firm, when the desired outcome under thearrangement beween the parties has been achieved.

Smart SAP Assistant

• Key Concepts: 
  A contingent fee is a payment made to a third party for services rendered, usually in the form of a commission or percentage of the total amount of the transaction. It is typically used in business transactions where the outcome is uncertain or the risk of loss is high. The fee is contingent upon the successful completion of the transaction. 
  
  How to use it: 
  Contingent fees are often used in business transactions such as mergers and acquisitions, real estate transactions, and other complex financial transactions. The fee is typically paid out of the proceeds of the transaction and is usually negotiated between the parties involved. 
  
  Tips & Tricks: 
  When negotiating a contingent fee, it is important to consider all potential risks and rewards associated with the transaction. It is also important to ensure that all parties involved understand the terms of the agreement and that all parties are in agreement with the terms. 
  
  Related Information: 
  Contingent fees are regulated by various laws and regulations, including those governing securities transactions, antitrust laws, and consumer protection laws. It is important to consult with an attorney or other legal professional when negotiating a contingent fee agreement.