standard No Costs Agreement

If you change law firms during your law, both law firms may charge you a lawyer`s fee. Normally, the company that acts first forwards your file to the second company with an agreement from you or the second company to pay its fees once the case is over. If you think your customer has a good chance of success, you can also include a condition to pay an “uplift tax.” This is an additional payment for a successful result that must not exceed 25% of the legal costs (excluding disbursements). Your cost agreement should be clear about how the tax is calculated, what you expect from the tax, and what factors may change the final calculation of the fee. While a law firm takes the risk of not being able to bill for its work as part of a No Win ‐ No Fee Costs agreement, it is usually allowed to recover any expenses. Some disclosures cannot occur at the time of the cost agreement because they only occur at the time of certain events. For example, a lawyer is required to disclose details of the relevance of an offer of compromise received by the other party in personal injury disputes. This would often include information on likely costs up to now and the likely recovery of party/party fees. In addition, a lawyer is required to update their legal fee estimate if things change. In your cost agreement, you can set a condition that you only get paid for your work if you get a successful result. A “No Win No Fee” agreement is an example of this.