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What Is A Conditional Fee Agreement In Uk?
There was a time when people did not file a case against anyone because of the high fee of the lawyers. Not only the lawyers’ fees but also the extra expenses on the documentation, paperwork, and court hearings were enough to intimidate them. However, things have changed in recent years and now you can hire no win no fee lawyer.
Most of the people are still unaware of what this term actually means. CFA is a complete agreement that is designed to create a formal and legal arrangement between you and your lawyer. Let us see what a conditional fee agreement is all about.
What Is Conditional Fee Agreement
A conditional fee agreement is a formal arrangement according to which you and your solicitor agree on sharing the expenses of the case whereas the lawyer will only get paid if the case is won. The CFA was formally introduced in 1998 after which it needed some transgressions according to the new UK legislation that upgraded the ‘no win no fee’ structure.
How Does It Work
When you hire a solicitor without any binding CFA, he will ask you to pay his fee upfront. You will have to pay the initial fee, the extra expenses, and the closing fee as well. On the other hand, the conditional fee agreement works differently. This agreement mostly works for the victims of personal injuries of negligence. When a sufferer hires a no win no fee solicitor, the solicitor reviews the case and check the risk factors before going CFA. Most of the lawyers agree on no win no fee system only when they are sure that you have a strong case.
Do not pay Upfront Fee to Lawyer
You will not have to pay any upfront fee to your lawyer. The agreement will bind both of you in an arrangement that you will not pay any additional fee. Agreeing on paying the extra expenses on documentation can be discussed and added to the agreement. However, you just have to pay the legal fee at the end of the case if only you get the compensation you filed your case for.
What If The Case Is Won
If you win the case, you will have to pay all the legal costs and fees that you agreed to pay according to the conditional fee agreement. Other unrecovered expenses may be paid to your lawyer by the other party such as the barrister fee, cost of medical reports, and traveling expenses. After you have paid the agreed fee to your lawyer, the rest of the compensation amount is only yours.
What If The Case Is Lost
In case you lose the case, you are not liable to pay your solicitor any fee. You will also not have to pay the opponent any expenses until the court determines that you were looking for financial benefits and you had no honest reason to claim for the compensation. If anything of this sort gets proven in court, you will also have to pay the uncovered expenses to your lawyer.
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