What is no win no fee
For those who would like to know what this “no win no fee” actually means, here is the answer. It is a mutual agreement made between the client and the solicitor. This is mainly associated with personal injury claims. It is a common term used for the lesser known term of Conditional Fee Agreement (CFA). The basic idea behind this agreement is that you are not required to pay for your solicitor for the time he spent on court unless you win your lawsuit. You cannot expect this privilege for every lawsuit as there are certain conditions to be met for this agreement to take place. When such an agreement comes into place, the solicitor is supposed to provide you with information at various stages of the case. With this agreement being into effect, the legal system for getting compensation has leveled to a great extent for all, rich and poor.
Pros and Cons of CFA
Before you dive in for this option, it’s good to understand certain facts about this CFA agreement. This agreement has both advantages and disadvantages for both the client and the lawyer. The advantage for the client is that he doesn’t have to pay in advance for lawyer’s time he spends in court. This greatly reduces much of risk involved in filing a lawsuit in court. The disadvantage for the client is that often the solicitor’s fee is one third of the recovery. So as the case proceedings stretch more than expected, the amount will be much higher. When it comes to the lawyer, the effects are just the opposite. He gets nothing for the time he spent on court if he loses the case. But if he wins it, he might get more for his time he had spent than he would have got on an hourly rate.
pros and cons of no win no fee
Know some more facts about no win no fee
If the solicitor is able to win the lawsuit, the solicitor is entitled to get his fee which is usually a success fee from the opposing party. Often this opposing party will be insurance companies as the lawsuits are associated with personal injury cases. But if you lose your case, you may be liable to pay for the opposing parties costs too. So in order to cover such expenses, your solicitor should arrange an “After Event” insurance which will normally cover the risk for the premium which you or your solicitor might need to pay.
So, that’s all for you folks today.
What is a no-win no-fee case?
In personal injury cases primarily arising out of auto accidents, you are at liberty to choose your attorney to defend your case in the appropriate court of law. With the emergence of the no win no fee or Conditional Fee Agreement (CFA) as it is known, it is your counsel’s liberty to accept or reject your personal injury case. The term means that if there is a win, there is a fee and if it is a no win, then there is no fee. When the application of the idea became wider, the scope for legal help enhanced beyond barriers faced while reaching out for legal help. Legal help became more accessible outwitting social inequality.
In the recent past, the need for the no win no fee system was on an ebb owing to various restrictions imposed by the government in dealing with the motor accident claims by the people. Applying the principle, an auto accident case claim will be subject to an initial assessment of possibility of claim and in the event of such possibility being successfully assessed there will be further assessment on the probability of success on the claim. If at any stage the assessing solicitor finds your case unfit, then you may be denied representation on the basis of no-win no-fee by the solicitor. And if after assessment, the lawyer represents your case but fails in spite of assessment, he is not entitled for a claim of fee going by the principle.
No win no fee lawsuits
In a no-win no-fee case, the assessing solicitor applies every bit of reason and prudence to not end up with a no-fee situation eventually. He would not take up the case if the facts and circumstances of the case do not guarantee a win and thereby no fee. If after assessing a case, the solicitor finds a ray of hope, he would at once take up the case and handle it in a manner that is acceptable for the client and himself. On winning the case on the basis of no-win no-fee, he would be paid the solicitor’s fee apart from success or bonus fees by the losing party. The losing party is also liable for incidental costs involved in the suit such as court fees, medical report costs and so on.
Finding a no-win no-fee lawyer may be difficult at times since the discretion lies with the lawyer. May you be guided by the principle of right lawyer than the best lawyer.