Whilst many people are familiar with ‘No Win No Fee’ agreements being used for personal injury and medical negligence claims, not many people are aware that such arrangements can be utilised for commercial disputes as well. Such arrangements – which are also referred to as Conditional Fee Arrangements (“CFAs”) – allow businesses to pursue a claim for no fee at all or at a reduced cost. Therefore such agreements provide lots of businesses with the freedom to pursue compensation in relation to commercial disputes.
What Are No Win No Fee Agreements?
The term No Win No Fee refers to an agreements that a claimant will not have to pay any or not all the legal costs of pursuing a claim up front. The idea being that if a case is successful, all or most of the fees can then be recovered straight from the defendant. The actual concept of No Win No Fee agreements was introduced in 1995 and although they originally only applied to personal injury claims the concept quickly spread to other areas of law over the following years. Now it is in not uncommon for these agreements to be utilised in commercial disputes as well.
What Types of Commercial LitigationWill These Agreements Apply To?
Whilst many law firms do not extend No Win No Fee agreements to commercial disputes, some of the more commercially aware law firms now consider this method of funding appropriate for commercial claims as well. The term commercial claims cover a wider variety of business disputes such as problems with a contract and professional negligence claims. If you are not sure whether a claim can be covered by a No Win No Fee agreement then you should see a solicitor to ask if they can look at your case and to advise you on it. Many law firms will first want to be convinced that a claim is of sufficient value and strength for it to be worth pursuing and whether the defendants have the ability to pay the relevant costs and damages if the claim is successful.
Finding The Right Lawyer
If you want to pursue a commercial claim on the basis of a No Win No Fee agreement, the initial step is to first research the limited number of law firms that actually offer such a service. We do.
We also offer FREE initial phone advice – so you have an opportunity to find out how a no win no fee scheme might help you claim
Looking for No Win No Fee representation for your commercial litigation? Contact us today
Don’t be put off from legal representation in your business disputes, simply because of the perceived high cost of solicitors’ fees – talk to our experts first.
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