Conditional Fee Agreement
What is a Conditional Fee Agreement?
The old no win no fee system came to an end in April 2013 after which followed the new Conditional Fee Agreement (CFA). The conditional free agreement is an agreement in place between you and the solicitor that states that you don’t have any legal fees to pay if your claim is unsuccessful.
In April 2013 CFAs needed to adapt to new UK legislation but their reason for existing didn’t change at all, so your solicitor still only gets paid if your case is won.
How does a Conditional Fee Agreement work?
This is a legal arrangement between you and the solicitor where you only pay if the case is won and you receive compensation. That ensures that if the case is lost you are not left with a legal bill for any work.
What is included in a Conditional Fee Agreement?
The actual wording of a Conditional Fee Agreement can differ from firm to firm. So therefore although the exact content cant be disclosed here are some of the things that it will generally include:
- an insurance policy that covers your risk in losing the case
- statement to say that the claimant will not be charged even if they lose the case.
- solicitors fee or percentage that they will earn should they win the case.
- possible win bonus for the solicitor, generally paid by the other side.