No Win, No Fee: An Overview of a Conditional Agreement
A no win no fee solicitor agrees to work for your case if it involves a monetary award in damages. Also known as a contingent or conditional fee, a no win no fee agreement means that you pay the solicitor only when your case succeeds. These cases are common among low-income clients.
How does this work? Secure Law offers a glimpse into how conditional fees operate:
When you win the case, your solicitor may charge you on an hourly basis and a fixed fee, called a ‘success fee’. This may entitle the lawyer to anything from 33% to 50% of the amount you win. On the other side, there is no need to pay the solicitor if you lose the case.
Not all countries practice a conditional fee agreement, though. The UK, the United States, Australia, Japan, and New Zealand are among the few with some form of these agreements.
Practices of a No Win No Fee Solicitor
The high risk involved in such a contract makes most lawyers wary of it, unless the case has good merit – in other words, a big chance of success. A no win no fee solicitor will stay closely aligned to the best interests of the client, because of the money involved.
To make a proper selection, look for lawyers who work on a contingency basis, particularly in certain legal spheres.
Your case could be a personal injury or medical malpractice where usually large amounts of money may be involved, and you will accordingly have to look for a person who specializes in such matters.
Finding a Solicitor
The Internet will give you numerous names, even the local Yellow Pages. You may even consult friends, relatives and family members who have benefitted from the services of such lawyers.
Bear in mind though that a money judgment is necessary in hiring the services of conditional fee solicitors. You need to shortlist experts whose practice is in those areas that your case is in, or where contingent agreements are the norm, such as personal injury.
This agreement is a good idea for people who want to pursue a civil wrong in court, because the innate nature of such litigation involves a huge sum of money. Meanwhile, a no win no fee solicitor stands to benefit from such a venture, where there is often pecuniary compensation when the case is successful.