Another funding solution which is now available to clients is to enter into a Conditional Fee Agreement (“CFA”). In a nutshell, a CFA provides for the solicitor to charge the client a reduced hourly rate, but that in the event of a successful outcome, the solicitor will be entitled to an enhanced fee.

For example, if the usual hourly rate for a solicitor is 100, under a CFA it may be agreed that the client will only pay an hourly rate of 60. However, in the event of “success”, the solicitor may be entitled to an hourly rate of 150. In many cases, the full fee will be recoverable from the other side.

In certain cases, this is an attractive funding solution both for the client and the solicitor, and we are happy to consider any proposal for a CFA.