Contingency Fee Agreements are also known as Damages Based Agreements (“DBAs”), to differentiate from the similarly-named Conditional Fee Agreements (“CFAs”).
A contingency fee agreement means that you will only pay us your fees if we achieve a pre-agreed result in your claim (usually this is the payment of a certain amount of damages). If we achieve this result, our fees are then paid as an agreed percentage of those damages. If we do not achieve the required result, you do not have to pay us anything for our work.
The fee percentages vary depending on the nature of the claim; for a personal injury claim, the maximum is 25%; for employment matters 35%, and for all other claims the maximum is 50%. In many cases we will charge less than the maximum available to us, as we believe that you should be able to keep as much of your compensation as possible.
DBAs can often be used in conjunction with legal expenses insurance (both before the event and after the event) to minimise any cost risk that is involved with litigation.
For further information, please call our London or High Wycombe offices on the numbers at the top of this page, or email email@example.com. We will always get back to you.