Authors: Venetia Tan and Lim Shu-Yi.
Conditional Fee Agreements (CFA) – what’s this?
A conditional fee agreement allows the client to agree with their Singapore lawyer that their lawyer’s fees 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: pay more when they have more.
Conditional Fee Agreements (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:
1. arbitration proceedings;
2. certain Singapore International Commercial Court (SICC) proceedings;
3. related court and mediation of arbitration / SICC proceedings.
Still unsure if you can have one with your lawyers? Drop us a note and have a chat with us.
