What does Contingent Fee mean? Read on to discover the definition & meaning of the term Contingent Fee - to help you better understand the language used in insurance policies.
A contingent fee is a method of payment in which the payment is not made until a specific objective is reached. Insurance brokers are often paid on contingent fees. Under these arrangements, they only get paid when the actual sale has been made or the contract has been signed.
We hope the you have a better understanding of the meaning of Contingent Fee.