Professional & Clinical Negligence Fee Funding
Professional and Clinical Negligence Fee Funding from Key Business Finance provides litigation funding for legal fees and disbursements arising out of professional and clinical negligence claims. It can finance:
- Payment of fee notes (where a CFA is not in place)
- Disbursements – including Counsel’s fees, ATE insurance premiums and expert reports/evidence.
Benefits to your firm:
- No need to turn away clients who cannot currently meet your fees.
- Gives you a competitive advantage over other legal firms
- Prompt payment of your fee notes
- No arrangement fees for you or your client
- Easy online administration system
Benefits for your client:
- No arrangement fees to pay
- Competitive rates of interest
- Separate credit line, away from your client’s other financial arrangements
- Guaranteed acceptance (within legal firm’s pre-agreed credit limit)
- Finance available for up to 36 months or until the case is completed, if sooner.
How Professional & Clinical Negligence Fee Funding works
The Professional and Clinical Negligence Fee Funding scheme is a revolving credit facility, which clients can use at any stage in the proceedings, in order to help them pay fees and disbursements.
Your firm agrees an overall credit limit with Key Business Finance. You choose those clients to whom you wish to offer to offer the facility. When considering clients to whom you could offer this funding, it is important to remember that the account must be repaid after 36 months or at the conclusion of the case, whichever is earlier. It is therefore important to ensure that any costs charged to the account are recoverable regardless of the outcome of the action.
At your invitation, the arrangement provides your clients with a revolving credit facility they can use to pay fee notes and disbursements as they become due. Key Business Finance then pays any fees charged direct to your bank account (via BACS).
All administration is carried out online, using your own case reference numbers so it’s easy for you to handle too.
Find out more
If you would like to learn more about the Professional & Clinical Negligence Fee Funding facility:
There is also a Professional & Clinical Negligence Fee Funding information sheet to download, which summarises the scheme.