Damages-based agreements (DBAs) are the seldom-used option when it comes to ‘no win no fee’ cases, but is their lack of popularity justified? In this week’s NLJ, solicitor and DBA-proponent Richard Spector, partner at Spector Constant and Williams shares his personal experience of running DBA cases.
Spector shares some insights and tips from his experience of running DBAs.
While there have been some negatives, he reveals that his experiences have been overwhelmingly positive. What’s more, there are some definite advantages of DBAs over conditional fee agreements, for example, he writes, ‘the DBA is genuinely like a joint venture between solicitor and client.
‘If the client is successful, then so is the solicitor. Similarly, if the client fails to win or achieve a good recovery, then the solicitor gets paid nothing or very little. The solicitor and client are in it together.’
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