A Conditional Fee Agreement, also widely recognised as a ‘no win no fee’ claim, is applicable to various forms of claims, including family matters and criminal cases. Many solicitors offer a ‘no win no fee’ agreement to encourage people to pub in a claim as most do not realise what they are legally entitled to. We tend to fear the hidden costs that may be involved in claiming compensation and consider it as a time-consuming and complex process.
When your claim is successful...
In the event of such an agreement, your ‘no win no fee’ solicitor will only be rewarded for his services if your claim is successful. He shall also receive a success fee, an extra fee for making this success happen. This success fee along with the basic fee has to be paid by the losing party to the solicitor. There are also incurred costs or ‘disbursements’ involved in this case, which includes court fees and other charges such as the issuing of medical reports. These will also be paid by the losing party should you win your claim.
When your claim defaults...
In the event of your claim failing, you need to pay the solicitor of the successful party, as you will be the losing party here. But you need not pay your own solicitor. Here again, any incurred costs or disbursements have to be paid by you. Nevertheless, your solicitor usually makes the arrangements for insurance (known as ‘after the event’ insurance) to cover these risks beforehand.
When your claim is successful...
In the event of such an agreement, your ‘no win no fee’ solicitor will only be rewarded for his services if your claim is successful. He shall also receive a success fee, an extra fee for making this success happen. This success fee along with the basic fee has to be paid by the losing party to the solicitor. There are also incurred costs or ‘disbursements’ involved in this case, which includes court fees and other charges such as the issuing of medical reports. These will also be paid by the losing party should you win your claim.
When your claim defaults...
In the event of your claim failing, you need to pay the solicitor of the successful party, as you will be the losing party here. But you need not pay your own solicitor. Here again, any incurred costs or disbursements have to be paid by you. Nevertheless, your solicitor usually makes the arrangements for insurance (known as ‘after the event’ insurance) to cover these risks beforehand.
<< Home