Our Financial Mis-selling and Secret Commission Litigation: A simple guide to our Agreement in Plain English - CEL Solicitors

This guide is not a replacement for reading the small print of our Agreement. When you sign our Agreement, you’re bound by it (subject to your cancellation rights below), but here are the key bits:

1. Our Agreement sets out how we’ll manage your claim and how we’ll be paid for the work we do.

2. We’ll run the claim without any upfront cost or risk to you. In practice, this means:

a) We’re only paid if we ‘win’ your claim, i.e. settle your claim.
b) If we lose, you pay nothing.
c) We cover the expenses of pursuing your claim (e.g. barrister’s fees, expert fees and court fees).
d) We cover the risk of you losing and having to pay your opponent’s costs via an insurance policy, the cost of which is set out below:

Damages Recovered: £1,000 to £10,000

Cost of Policy: £349 plus IPT*
Level of Cover: £5,000

Damages Recovered: £10,000 to £25,000

Cost of Policy: £1,499 plus IPT*
Level of Cover: £25,000

Damages Recovered: £25,000 to £50,000

Cost of Policy: £2,499 plus IPT*
Level of Cover: £50,000

Damages Recovered: £50,000 plus

Cost of Policy: 10% of claim amount plus IPT*
Level of Cover: £100,000

* Insurance Premium Tax

3. If we ‘win’, our fees and costs are deducted from your award and nothing comes out of pocket. Some of our fees are recoverable from your opponent in the event of a win, but the insurance premium and success fee will not be.

4. We cap our fees and costs to be no more than 30% of your total award. Depending on how much we recover, and the overall time and amount of legal work needed, it may even be much less than 30%.

5. You have the right to cancel the Agreement within 14 days of receiving it without risk of any financial responsibility. You may also cancel after the 14 day period but we may, although unlikely, charge for work we have undertaken on your behalf during that time.