Most of our work is carried out under a Conditional Fee Agreement. These are sometimes knowns as “no win, no fee” agreements. The principle of these is that your solicitor will not charge you if they lose the case, but if they win they will generally recover costs from the other side plus a success fee from you. They are usually used in connection with claims for compensation so the success fee comes out of any compensation award you receive. There are some quite complex rules governing how the success fee is calculated and how much it can be.
You also need to take into account whether there may be a claim by your opponent for costs if you lost. You can have a no win no fee agreement where your own solicitor will not charge you, but your opponent could if you lose your case. In most personal injury/accident cases that risk is not high because a court would not generally make a cost order against you in those circumstances, but in other types of cases that risk is much higher. Sometimes it is possible to obtain an insurance policy which could cover that risk. You should discuss the costs risks with your solicitor so that you know what will happen in the event of you winning or losing.
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