What funding options are available?
At Clime Associates we offer a number of funding options to ensure we can meet a range of different requirements our clients may need. Our standard rates are competitive and we may also take some cases on as 'no win no fee'.
Fixed Fees
For certain types of work, Clime Associates can offer fixed fees. For straightforward matters, we have standard fixed fees, but we can provide a bespoke quote for any instruction.
We are upfront about the work covered within our standard fees. Sometimes, additional work may be required because of an unforeseen issue or because you instruct us to do additional work. If this happens, we will provide you with a breakdown of the additional work that is necessary and a bespoke quote for that work before we incur the cost so that you can make an informed decision. You can read more about the types of work where we offer fixed fees, and what those fees will be, here.
Deferred Fees
This is an agreement where you are still responsible for paying our fees, but we will defer payment until the end of the case. If you win, then you may be entitled to recover the costs owed to us from the losing party and/or be able to pay our fees out of your damages. If you lose, then you still must pay our fees, but the additional time between the start and the end of the case will allow you time to put the money aside.
No Win Low Fee
This is similar to a no win, no fee agreement, in that we will not charge you any money up front. If you win, you are responsible for our fees, some or all of which may be recoverable from the losing party.
If you lose, you are still responsible for our fees, but we will discount these to a lower rate than we would have charged if we had been successful.
No Win No Fee Agreements
A no win no fee agreement is also known as a conditional fee agreement. Under the terms of this agreement, we agree not to charge you for our fees until your case has settled. If your claim is successful, most of our fees will be paid by the Defendant. In the event that your case is unsuccessful, we will again not charge you our fees.
Changes in Legislation
As of the 1st April 2013, the Government changed how legal costs and funding for personal injury claims are paid. As a result of these changes, solicitors are no longer able to recover all of your legal costs from your opponent. These changes mean that we are no longer able to recover the success fee or the cost of an ATE policy from the Defendant.
The Government has therefore stated that these costs must be met by the Claimant and deducted from damages. In recognition of this extra cost to the Claimant the Government has increased the damages awarded to Claimant for their pain, suffering and loss of amenity by 10%. The level of deduction will depend on the nature and value of your claim.
Why do Solicitors Enter into a No Win No Fee Agreement?
As stated above, if your no win no fee claim is not successful we will not be paid. In order to recognise this risk, our no win no fee solicitors are entitled to claim what is known as a 'success fee'. This is also known as an uplift and is a percentage of the costs or damages awarded.
Call for a FREE first legal consultation and discover if your claim could be taken forward on a No Win No Fee basis, while discussing your case. You will receive qualified legal advice you can trust.
What is an After the Event (ATE) Insurance Policy?
In the event you do not have Before the Event Insurance we will discuss the funding options available to you, in most cases the most suitable form of insurance would be an After the Event Insurance Policy. An After the Event Insurance Policy covers the Defendants costs which they would be awarded should your case not be successful.
The cost of the ATE insurance policy is, like the legal fees, deferred until the end of the case. If the compensation claim is successful, the cost will be deducted from your damages. If the case is lost, no payment is required as the premium is self-insuring.
What Do I Have to Pay?
Following the changes in legislation, the Claimant must now pay the cost of the ATE premium and the Success Fee. These costs are deducted from your claim at the conclusion of your case and you are not required to make any payments up front. In the event that your claim is not successful you will not be responsible for any charges as the ATE premium is self-insuring. We will not incur any expenses on your behalf without your agreement and authority to do so.
