Take a look below at the frequently asked questions relating to PASSPORT™
What is a Conditional Fee Agreement (CFA)?
A funding arrangement whereby the payment of solicitors’ costs are deferred, in whole or in part, the deferred element being conditional on the successful outcome of the case at which point a success fee is also payable
Is a CFA the same as a DBA?
No. A DBA (Damages Based Agreements) is a different type of funding arrangement, which involves the lawyer keeping a share of damages recovered. DBAs are not part of PASSPORT.
What is After The Event (ATE) insurance?
This is an insurance policy that insures against the costs liability an unsuccessful litigant will normally incur if a claim is lost.
What is the PASSPORT™ assessment criteria?
The PASSPORT™ assessment involves a detailed assessment of the likelihood of success of a claim by reference to the known facts and available evidence, the legal issues and the ability of the proposed Defendant to pay any judgment or settlement.
How does the PASSPORT™ assessment process work?
Firstly, we ask that you complete an initial questionnaire and return this to ourselves together with copies of any relevant documentation. We will then contact you to arrange a meeting or telephone conference call to review the information you have provided and take further details. There is no charge for this initial meeting and review.
If, at the conclusion of that meeting, it is considered that the claim is likely to prove suitable for PASSPORT™, we will discuss the options for funding the claim and the next steps. Alternatively, if further investigatory work and/or a Counsel’s Opinion is required, we will identify what needs to be done in order to progress the claim and assess its prospects of success.
Will I have to pay for any Counsel’s Opinion that needs to be obtained?
This depends on the outcome of the initial review meeting. An application for funding can be made to fund the costs of a Counsel’s Opinion or, in appropriate cases, Counsel may also be willing to act on a CFA. An inability to fund disbursements is not a bar to a PASSPORT™ if all other relevant criteria are met.
How are the costs risks of litigation managed?
Claims that qualify for PASSPORT™ can be funded on either a full or discounted conditional fee basis. With a full CFA this means that nothing is payable if the claim is unsuccessful but that a success fee is paid at the conclusion of the claim in the event the claim is successful. With a discounted CFA only part of the legal costs are paid as the claim proceeds.
Where disbursement funding is required for Counsel, expert and court fees, an application will be made to an established litigation funder. In all cases where a case is suitable for PASSPORT™ an application will also be made for After The Event costs insurance to insure against the risk that the claim is unsuccessful and you are ordered to pay your opponent’s costs.
Can a claim still be pursued even is it does not qualify for PASSPORT™?
Yes. Litigation can still be pursued on the traditional ‘pay as you go’ basis. We regularly also litigate claims for clients on a fixed fee basis. We are always happy to discuss how a claim can be funded in order to meet your objectives as cost effectively as possible.
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