You’ve probably heard of ‘No Win No Fee’ agreements when it comes to personal injury or medical negligence claims, but did you know that you can also make use of them for commercial disputes? Also known as Conditional Fee Arrangements (or CFAs), these types of agreements allow businesses to pursue legal action for either no legal fees or fees at a reduced cost so, provided your case is a strong one, there shouldn’t be anything to stop you from going after financial compensation in the case of business disputes.
What Does No Win No Fee Mean?
‘No Win No Fee’ was introduced as a concept in 1995, and while originally it was just used for personal injury claims, but a few years later it started spreading out into other areas. These days, it is not unknown for these types of agreement to be used in commercial disputes as well. As the name suggests, it simply means that the claimant doesn’t have to pay any upfront costs in order to pursue legal action against an individual or company (such as a hospital in the case of medical negligence). If the case is successful, all or most of the fees are generally covered by the defendant.
What Kind Of Commercial Disputes Can This Apply To?
While most law firms don’t extend their No Win No Fee agreements to commercial disputes, some savvy solicitors will now consider using this method of funding for your business litigation as well. This can cover disputes in the workplace, such as an acrimonious business partnership dissolution, to issues with contracts as well as professional negligence claims. If you aren’t sure whether your claim will be covered by this type of no fee agreement, ask a solicitor to look over your case and advise you on the matter. Generally, a law firm will want to be convinced that the claim is of sufficient value to be worthwhile pursuing, that the defendants have the ability to pay for the relevant costs and damages, and that the case is likely to succeed.
Finding The Right No Win No Fee Law Firm For You
If you wish to make a commercial claim on a No Win No Fee basis, your first step is to research law firms who offer this service. Some also offer completely free initial advice, so make the most of it and ask all of the questions you want. It’s also worth asking the firm about their past experience in disputes of this nature and don’t be afraid to query their success rate. You can also ask for customer testimonials from satisfied clients; even if you aren’t paying for all of the solicitor fees up front, you still need to know that you can trust the law firm you have chosen to help you.
So, don’t be put off the idea of legal action due to the perceived high cost of solicitors’ fees; find a law firm which offers No Win No Fee agreements for commercial disputes, and get the compensation you deserve.
Tim Bishop is senior partner of Bonallack and Bishop – UK Solicitors with a team of commercial dispute experts. For more information about using a no win no fee agreement, visit their specialist website at http://www.thenowinnofeesolicitor.co.uk or call them directly on [01722] 422300
Tim Bishop
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