The Law Society’s Practice Advice Service has just issued a new straightforward guide to CFAs, contingency fees, the indemnity principle and fixed costs. The booklet, entitled 'Payment by Results' is a straightforward explanation of this complex area and claims to give 'basic information to solicitors on the different forms of payment by results for contentious matters'. It has helpfully been updated to take account of the new Solicitors’ Code of Conduct introduced in July this year, and includes the latest comparison table of ATE providers – including Box Legal.

The 49 page booklet summarises past and present CFA developments as well as case law relating to CFAs signed pre November 2005 under the now repealed CFA Regulations. It reviews financial services issues including a solicitor’s interest in a CFA and sets out relevant CPR and Practice Directions. It also deals with contingency fees, fixed costs and the dreaded indemnity principle. It sensibly provides links to further information and includes relevant parts of the Code of Conduct and some helpful contingency fees case law. In particular it appends (Appx. 6) the latest Litigation Funding ATE Comparison Table (Page 43). When staged premiums and ' prices from….' are taken into account, Box Legal appears to head the list!

The Practice Advice Service is staffed by solicitors who deal with enquiries on legal practice in many areas of law including solicitors' costs and Law Society policy. They can be contacted on Tel: 0870 6062522 E-mail:practiceadvice@lawsociety.org.uk Web: www.pas.lawsociety.org.uk

Click here for a copy of the new 'Payment by Results' Guide [Requires Acrobat Reader].