On 27 March the Law Society published its draft
model conditional fee agreement (CFA), to be used to assist members of the profession in their work for clients on matters funded (or considered to be funded) on such a basis.
In developing this model the Law Society took the advice of leading costs Counsel on the model CFA, which was drafted by an expert group of senior practitioners in the civil justice field and approved by the Law Society's Civil Justice Committee.
As in any complex matter different interpretations of the law are possible. The Society is aware that some queries have been raised about its interpretation of the new regulations but we are confident that our interpretation is to be preferred. Of course, it will in the end be the courts that determine any contested legal issues.
Practitioners should bear in mind that the model CFA is intended as a guide and is designed so that members of the profession can adapt it to make it applicable to the client and the subject matter as well as their own business requirements.
If members have feedback on the model agreement then the Society's working group will be happy to consider it. Email your comments to
insidetrack@lawsociety.org.uk.