Having acted for all sorts of clients we have learnt that there is no one charging structure that works for all. Our approach to costs depends entirely on your circumstances, the merits of your case, your attitude to risk and the importance of the matter to you.
We offer a number of options when it comes to our charges.
The following are some examples of the different fee structures we can offer:
- Conditional fee agreements (CFA) – an agreement between us and you (if a claimant) which provides for the payment of our fees only in specified circumstances. The agreement will set out in detail in what circumstances and how much you would be required to pay required to pay. You will be required to pay for other expenses such as barrister’s fees or experts fees (such costs may be recoverable if you have insurance in place)
- Partial Conditional fee agreements– acts in the same way as a CFA save that rather than offering a 100% discount on our fess we may invoice you at a lower hourly rate during the claim.
If you are unsuccessful, your only liability to us is any discounted fees, VAT and other expenses. These include barristers’ and experts’ fees which you may be able to recover under the terms of the insurance cover which may have been arranged for you to cover payment of your opponent’s legal costs.
- Fixed Fees– a fixed fee is pre-agreed for different aspects of the claim.
- Hourly Rates – we can if you wish just agree to charge an agreed hourly and provide regular updates on your liability for costs
- Contingency Fees (Damages Based Agreements) – in line with how claims are run in the USA we will be able to pursue the claim for you without charge (or at a reduced hourly rate). If you win we will receive an agreed percentage of any damages awarded. Your losing opponent will still have to pay your legal costs but you will be responsible for any shortfall between the agreed percentage and costs recovered from your opponent. If you lose, you will not pay any legal fees to us although you may be liable for your own disbursements and the winner’s legal costs, subject to any insurance you had taken out.
BEFORE THE EVENT (BTE) INSURANCE
BTE insurance insures against the risk of potential future legal costs and liabilities. BTE insurance is usually purchased as an add-on to existing insurance policies although it can be bought as a stand- alone product. You may have the benefit of such cover within an existing household or business insurance policy. Whilst the insurer may try to get you to use their panel solicitor they cannot compel you to do so. We can assist if you wish to use our services.
AFTER THE EVENT INSURANCE
ATE insurance is a form of legal expenses cover obtained by a claimant after the event in time that brought about his entitlement to bring the claim. Almost everyone who issues a court claim inherently runs the risk, should the claim fail, of being ordered to pay the defendant’s legal costs. Whilst a litigation funder provides the money upfront to pay a claimant’s own ongoing costs, an ATE insurer insures the claimant against the risk that he might ultimately be ordered to pay the defendant’s costs.
In practice, if the claim fails, the ATE insurer usually becomes responsible for paying both of the following liabilities on behalf of the claimant:
(a) The defendant’s legal costs and disbursements; and
(b) The claimant’s own disbursements.
It is possible in some cases, for a claimant to be able to obtain ATE insurance to cover his own solicitors’ costs associated with pursuing the claim.
ATE Insurers look very closely at the claims and clients they insure. It is all a matter of risk. Insurers will look for you to have at least a 60% chance of success and generally higher. The premium payable is very much dependent on the individual merits of the claim and level of cover provided.
If you would like to discuss the funding of any claim and the alternatives available please call us now on 0333 577 5677 or use the contact form and we will resolve your claim.