Authors: Venetia Tan and Lim Shu Yi.
Conditional Fee Agreement (CFA) – what’s this?
A conditional fee agreement allows the client to agree with their Singapore lawyer that their lawyer’s fees shall be payable only upon certain milestones. It could also mean that the client enjoys a discounted rate until the client successfully recovers their claim amount.
In other words, if the client has aged receivables and is experiencing cash flow issues, they may soon be able to engage lawyers and proceed with their claim whilst on a limited budget, and pay more when they have more.
Conditional Fee Agreement (CFA) – when can I have one?
These can only take place after the Minister issues notice of commencement in the government gazette.
They are also limited to three types of proceedings:
- arbitration proceedings;
- certain Singapore International Commercial Court (SICC) proceedings;
- related court and mediation of arbitration / SICC proceedings.
GENERAL DISCLAIMER
This article is provided to you for general information and should not be relied upon as legal advice. The editor and the contributing authors do not guarantee the accuracy of the contents and expressly disclaim any and all liability to any person in respect of the consequences of anything done or permitted to be done or omitted to be done wholly or partly in reliance upon the whole or any part of the contents.
