When it comes to filing a case in court, huge bills of solicitors are a major concern for many people. However, you may not know that certain solicitors facilitate you with a no win no fee agreement.
For no win no fee agreement, you need not pay the fee of solicitors beforehand. Once you win the case, your attorney will inform you about their fee for the case.
Facts about Conditional Fee Agreement
A no win no fee agreement is also referred to as conditional fee agreement. The terms of the agreement vary with each case. So, it’s best you should discuss them with the solicitor before signing an agreement.
Here are some lesser known facts about conditional fee agreement you ought to know:
- For simple cases such as tripping and slipping claims, the terms of the agreement are simple, but they can be more complex for complicated cases
- Solicitors offer a CFA agreement only if you have at least 50-60% chances of winning the case
- Before the solicitor takes your case, they may assess your claim. You will have to pay the costs beforehand
- Your solicitor may encourage you to buy an insurance policy to cover their fee
- You may also need to buy an after the event insurance policy to pay the legal fee of your opponent in case you lose the case
- If you need services of experts to gather evidences, you must pay them in advance
- The solicitors may charge you more than their actual fee if you win the case. So, you should discuss it before you sign the CFA
Benfits of Conditional Fee Agreement
In a no win no fee agreement, your solicitor shares the risk of legal battle with you. You are obliged to pay their fee only if the verdict is in your favour. However, any additional costs involved in investigating the case and collecting evidence must be paid no matter what the results.
This agreement enables many people to file a case who couldn’t afford it otherwise. They need not worry about fee of solicitors, they can go to court for justice. You can contact LawAdvice no win no fee solicitors for expert services.
Many people also believe that no win no fee agreements positively influence the performance of attorneys. They are aware that they will be paid only if they win the case for their client. It motivates them to effectively prepare the case and win it with the help of sufficient evidence.
A CFA also assists solicitors in increasing their clientele. It builds trust between solicitors and their clients. Knowing that they will be obliged to pay fee of the attorney only if they win the case, a majority of people prefer signing a conditional fee agreement.
Conditional fee agreements offer various benefits to clients, but they also pose certain risks. Therefore, it’s extremely important you should weigh its risks and benefits to make the right choice. Also, you should discuss the terms and conditions with the solicitor before you acquire their services.