Sharing the Risk with You
Sydney Mitchell recognises that times are difficult and that it is often necessary to consider with clients’ potential ways of funding litigation. In our experience many clients have good claims but are unable to fund legal fees.
No-win, no fee - Conditional Fee Agreements
Sydney Mitchell is prepared to consider 'Shouldering the Risk with You' and act under a conditional fee agreement commonly known as a ‘no-win, no-fee’ agreement.
Under a conditional fee agreement you only pay us when you win!
Sydney Mitchell’s team has undertaken a number of successful matters under conditional fee agreements, ranging from modest to high value complex cases.
In return for sharing the risk, if you are successful you agree to pay us a success fee in addition to our normal costs. Ordinarily, the success fee is recoverable from your opponent.
Discounted Conditional Fee Agreements (DCFAs)
Some cases may not be suitable for a full ‘no-win, no-fee’ agreement but we may be able to offer you a discounted conditional fee agreement.
Under a discounted conditional fee agreement we agree that you will pay a discount on our normal fees as the case progresses with the balance only becoming payable when you win.
If you are successful you agree to pay the balance of our normal fees and a success fee. Ordinarily, the success fee is recoverable from your opponent.
Damages Based Agreements
Damages based agreements (contingency fee arrangements) ("DBA") are available in all types of claims. Under such an agreement we agree with you the amount we charge you should you win. The amount payable to us will be a percentage of the amount that is recoverd by you.
Is your case suitable?
‘No-win, no fee’ agreements are suitable for many commercial disputes including professional negligence, shareholders, partnership, probate and contractual disputes.
If your case is not suitable we will discuss with you other funding arrangements which may include, fixed or capped fee agreements.
In many cases our experienced litigation team will be able to undertake an initial assessment of whether your case is suitable for a ‘no-win, no-fee’ agreement without requiring an up front payment from you.
Where there are many documents or the matter is complex we will agree a Fixed Fee or Capped Fee assessment (see below) with you to consider whether we can offer you a ‘no-win, no-fee’ agreement.
Fixed fees
We appreciate that where possible clients like to have certainty when it comes to legal fees. We are prepared to agree a fixed fee for undertaking keys steps in bringing your claim. Under a fixed fee arrangement you agree to pay us the agreed fee regardless of the amount of time we spend.
Capped fees
A variation on a fixed fee is that we may agree that our fees will not exceed an agreed amount regardless of the actual time we spend. If we spend less time then you only pay for the time spent at our normal hourly rates providing you with security as to the amount of your costs from the start.
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