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Escalate
Escalate provides a commercial dispute solution that removes all financial risk including upfront cost in pursuing old and new debts and disputes.
This new initiative is part of our joint venture with the markets corporate recovery professionals and is focused on success and delivering a straightforward process. Escalate is a unique product that is based on a fixed contingent fee within a fixed time period of 3 months.
The escalate package also contains After the Event Insurance (ATE) and cover for court charges and other fee expenses i.e. a retainer to enable you to pursue your claim confident in the knowledge that you have NO COST, NO RISK and a TEAM OF PROFESSIONALS embedded in the recovery process.
Key attributes
- A new way for businesses to manage cash flow and risk in their commercial disputes.
- Allows businesses to transfer their financial risk to professional advisers (accountants and lawyers) in return for a success fee.
- Allows clients to pursue historic as well as current commercial disputes.
- Focused on disputes over £25k and up to £500k but not restricted.
- Embedded insurance and funding to create ‘negotiation muscle’ for early settlement.
Key benefits
- Removes blockages due to budgetary or cash flow constraints.
- Allows for a mixed strategy in dealing with commercial disputes (in-house/outsourced, types of claims, values of claims).
- Removal of the ‘billable hour’
- Predictability in assessing range of recovery upon success.
- Success fee can be considered as a legal fee and therefore tax deductible.
- No win no fee
- Fixed fee upon success – set at the outset
- No risk of adverse costs – Insurance cover embedded
- Cash flow funding for fees and expenses – embedded
- Focus on a quick commercial solution
Award wins:
- ‘Best Collaboration Initiative’ at the Lawyer Awards
- ‘Excellence in Business Development’ at the Law Society Excellence Awards
- ‘Innovation of the Year’ at the British Accountancy Awards
- ‘Legal Services Innovation Award’ at the prestigious British Legal Awards
“Demonstrates true collaboration across different market sectors – insurance, legal and accountancy – and finding a solution which adds great value to SME market.”
British Legal Awards 2018 judge
