Success Fee Agreements are commonly used in England and Wales to align the interests of legal service providers and clients by linking additional fees to successful outcomes. These agreements, regulated under various statutes including LASPO 2012, provide clarity on fee structures while protecting client interests. A Success Fee Agreement typically includes detailed provisions on success criteria, fee calculations, risk assessment, and payment terms, making them particularly valuable in litigation, personal injury cases, and commercial disputes where traditional fee arrangements might limit access to legal services.
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1. Parties: Identifies the legal service provider and client
2. Background: Explains the context of the legal matter and purpose of the agreement
3. Definitions: Defines key terms used throughout the agreement including 'Success', 'Success Fee', and other relevant terminology
4. Scope of Services: Details the legal services to be provided under the agreement
5. Success Fee Calculation: Explains how the success fee will be calculated, applicable caps, and payment conditions
6. Payment Terms: Specifies when and how payments will be made, including base costs and success fee arrangements
7. Definition of Success: Clearly defines what constitutes 'success' that triggers the additional fee payment
1. Insurance Arrangements: Details of any after-the-event insurance arrangements and related obligations
2. Third Party Funding: Details of any third-party funding arrangements and associated requirements
3. Termination Rights: Specific termination provisions beyond standard terms
1. Fee Schedule: Detailed breakdown of base fees and success fee calculations
2. Risk Assessment: Assessment of case risks justifying the success fee percentage
3. Client Care Information: Standard client care information required by SRA
4. Scope of Work: Detailed description of services to be provided and any exclusions
Relevant legal definitions
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Relevant Industries
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