Success Fee Conditional Fee Agreement
Description
How to fill out Finders Fee Agreement?
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FAQ
Under a No Win No Fee agreement, the success fee is taken as a percentage of your compensation, regardless of the settlement figure you receive. However, as per the Conditional Fee Agreements Order 2013, the fee is legally capped at 25% for personal injury claims.
A success fee is an agreed uplift on a lawyers costs - in the event that the case is successful. It is one of many types of legal funding options available to clients.
Related Content. A conditional fee agreement or CFA is an agreement with a legal representative which provides for their fees and sometimes their expenses, or any part of them, to be paid only in certain circumstances - usually only if the client wins the case.
A CFA is an agreement whereby a solicitor and a client can agree to share the risk of the litigation by coming to a financial arrangement whereby part, or sometimes all, of the solicitors' fees will only be payable by the client in the event of success.
Terminating a Conditional Fee Agreement A client is entitled to terminate a conditional fee agreement, in the same way as any client agreement, but if they do then the legal representative is usually entitled to be paid in full immediately.