We are working with VFS Legal Limited to make their unique Cash Flow Facilities available to our clients.
VFS Legal provide both a Disbursement Costs Facility and Cash Advance Facility.
Disbursement Costs Facility (‘DCF’), recognises some of the problems that a law firm may encounter in funding certain types of PI, clinical, medical and general negligence litigation cases.
The ongoing disbursements that are incurred on each case being progressed lead to a continual drain on a firm’s cash resources. These costs frequently run into several thousands of pounds per case and with no fixed end date for repayment; and when numerous cases are being run simultaneously, the total amounts involved become extreme. If funding has not been specifically provided for this can become problematic.
The VFS Legal DCF Solution provides:
- case specific facility to cover the disbursements
- working with a panel of respected ATE providers
- reimbursing the costs as incurred and as required
- monthly interest payable only on funds advanced
- flexible; no fixed term, repaid when case is concluded
- parallel facilities enabling multiple cases to be run
- limits increasing in line with your case load
- and, we can fund the profit costs incurred at judgment
Costs Advance Facility (CAF) has taken the growing problem of the length of time it can take to negotiate and actually collect the agreed costs from a case that has already been won.
- negotiating the draft bill can be a protracted affair
- interim payments are getting harder to obtain
- third party insurers increasingly drawing out payment
- using the cash flow to negotiate a realistic settlement
The VFS Legal CAF Solution provides:
- an immediate cash advance against the draft bill
- flexible, no fixed term; repaid when then bill is settled
- monthly interest payments until settled
- strengthens negotiating position & settlement levels
- funds can be used for any purpose
- unique structure, quick, efficient, simple, effective
For more information please contact us, visit www.VFSLegal.com or send a request to enquiries@vfslegal.com.