Finance Options for Civil Litigation
- Author Molly Bishop
- Published November 26, 2020
- Word count 494
We live in a world where we are dependent on each other for our various needs. While we may say that this world runs in harmony, disputes and disagreements are a common occurrence within human relationships. To resolve these disputes, we use different methods of arbitrations, mediation, and other informal means suitable for the situation. However, when the disputes are not resolved through informal methods of arbitrations and mediation, we resolve it by some laws offered by civil authorities under the country’s common legislations.
What is Civil Litigation?
Civil Litigation is a set of country’s laws that are designed for non-criminal sanctions. In other words, these laws govern the disputes between two parties in which one party has violated the rights of another party and another party is seeking remedies. A civil case is initiated when one party files a complaint against another party. Both parties are called to the civil court with their civil lawyers to offer their reasons and/or excuses for complaints. The civil laws widely cover the area of commercial laws as well. The laws surrounding the business world ensure justice in case of breach of contract and/or in any other damages to the affected parties.
The Commercial Litigation
Commercial litigation involves the laws surrounding disputes in the business world. The disputes can be anything such as breach of contract, failing to comply with governmental policies, partnership disputes, and shareholders issues. The Process of Litigation happens in various settings, from Federal Courts to Private Arbitration and Administrative Hearings. The commercial litigation proceeds can be between two individuals, between two businesses, or between business and government. However, as the laws were developed to address commercial disputes, the cost of litigation was a major source of worry for the concerning parties.
The Cost of Litigation
The cost of litigation is an intimidating factor in the process of seeking justice. Whether you were willing to file a case or defend one, the cost of hiring a civil lawyer and proceedings was something to worry about. One way to fund your cost of litigation was by yourself. This meant to bear all the expenses of hiring your litigation representative. This was a risky option as the sole responsibility of sharing the risk of losses and/or rewards of winning was on you. Hence in No Win No Fee Lawyer UK option was introduced as an alternative.
What is Commercial Litigation No Win No Fee?
No Win No Fee is an alternative to share the risk of losses with your litigation representative. There is two common No Win No Fee agreements.
1.Conditional Fee Agreement: In the Conditional Fee Agreement, your representative agrees for his expenses and charges to be payable only in specified circumstances i.e. if he/she wins the case.
2.Damaged Base Agreement: In the Damaged Base Agreement, your representative agrees to receive only a certain percentage of the compensation received by you, in case of winning, for your damages.
This meant to bear all the expenses of hiring your litigation representative. This was a risky option as the sole responsibility of sharing the risk of losses and/or rewards of winning was on you. Hence in No Win No Fee Lawyer UK option was introduced as an alternative. https://claimsspecialists.co.uk/no-win-no-fee/Article source: http://articlebiz.com
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