The solicitors no win no fee policy is used in law terms which means that if the claimant does not win his case, he is not entitled to pay any of the legal fees. However, in the event of a lost case, the lawyer does not make any profit either and must also pay for the defendants legal fees.
Why is there a solicitors no win no fee policy?
This policy exists for several reasons which can be both beneficial and non beneficial depending on various factors. A lawyer may choose to offer his services for free if he truly believes that winning the case will be easy and realistic. This free service is not completely free because if the claimant actually does win the case, the claimant must then pay the lawyer with the money won. Offering services for free brings more business to a legal company and can be quite beneficial considering that the free service is only offered to cases which are truly believed to win. This service is also tremendously appreciated by the claimant because he does not have to pay a penny out of his pocket unless he wins his case. In the event of a case which is won, the claimant normally receives an amount of money from the defendant’s side and the solicitor is paid with part of this money received. This basically means that the claimant has nothing to lose and by winning the case, both the solicitor and the claimant receive compensation which is a win – win situation. On the other hand, losing the case can be bad for both the claimant and the solicitor. Firstly, the claimant does not lose any money by losing the case so this does not really affect him; however, legal cases can takes long periods of time and can ultimately be a waste of time for the claimant. The solicitor is the one who loses the most in the event of a lost case considering that he makes no profit at all and now has to pay for the defendant’s legal fees.
Accepting a no win no fee policy is the best way to feel good about a case when you are a claimant. Solicitors no win no fee policy makes them work harder at winning each and every case because without a win, they make absolutely no profit.