conditional fee agreements Flashcards
1
Q
What is CFAand what types of cases is used for
A
It’s a legal funding arrangement where you only pay for your lawyers work if you win, if you lose you don’t pay
All civil cases except family cases
2
Q
What is a success fee
A
If the claimant wins a case they pay a percentage of the costs or a flat fee to the solicitor
3
Q
What happens if the case is won
A
The client must pay the normal fee and success fee
- there’s also a On the success fee
- The winning claimant cannot claim the success fee off the losing defendant
4
Q
What happens if the case is lost
A
Either the client pays nothing because of ‘no-win no fee’ or you pay a lower fee
5
Q
What are the risks in CFA
A
You have to pay if you win
