PURE Funding Brochure 2017

FUNDING Powered by INSURED-OFF BALANCE SHEET DISBURSEMENT FUNDINGwww.purefundingltd.co.uk

Funding disbursements is a massive cash drain on any law firm,and along with the capital expenditure those disbursements sit on alaw firms balance sheet until recovered and paid, affecting bothprofit and growth.Imagine if there were a product on the market, which not only provided disbursementfunding on all case types, but did it in such a way that they were no longer sat on the lawfirms balance sheet, restricting cash flow and profit.Furthermore, if such a product existed, how perfect would it be if that product were fullyunderwritten and Insured to cover not only the disbursements and defendant costs in theevent of a failed case, but also the disbursement loan and all associated interest as well?To put the icing on the cake, how wonderful would it be if, the liability and intereston the loan were not the responsibility of the law firm.Such a product would free up the law firms balance sheet and cash flow, increasing profitand opening the door for further bank support and increased growth.This product would also provide claiments with the ability to fund their own litigation withoutthe associated risks of having no insurance cover, whilst also giving them access to the bestexperts and specialist, due to their ability to pay on invoice production rather than endof case.WELCOME TO FUNDING Quite Clearly. Pure & Simple Funding

How does it work?In essence the claimant signs up to a funding loan to cover the costs of the disbursements intheir case.An ATE policy is taken out through FUNDING, this policy covers:• Disbursements• Defendants costs• Funding loan• Interest on the loan in the event of a failed caseMeaning the claimant is afforded FULL cover for everything if the case is unsuccessful.Should the case be successful the claimant is responsible for the premium and theunrecoverable interest.The claimant can recover all of the funding interest (with the exception of the amountattributable to the premium and drawdown fees). This is pursuant to the authority onSecretary of State for Energy & Climate Change–v–Jeffrey Jones [2014] EWCA Civ 363.Each case is individually screened/vetted and approved at every drawdown request byCLAIMS SUPPORT and the monies are drawn down to the solicitors electronically each time.SERVICES LIMITEDIt is a condition of the loan that where required the costs budgets must be prepared on ALLapplicable cases by and upon settlement ALL applicable cases must be sentto for the recovery of all fees and disbursements.will then settle the disbursement loan directly with the funder on behalf of the client.Cost and funding limitsInterest is charged at 15.3% per annum, calculated monthly.A drawdown fee of £50+vat applies to each drawdown request, this fee will only be chargedon a maximum of 3 drawdowns per case, any subsequent drawdowns over and above3 per case will not be charged.The funding per case is limited by the ATE policy and can be increased on a case by casebasis, on application to CLAIMS SUPPORT SERVICES LIMITEDwww.purefundingltd.co.uk [email protected]

Mechanism flow chart Case sent to DisbursementSolicitor screens/vets CLAIMS SUPPORT drawdown requestsand accepts cases SERVICES LIMITED sent to FUNDING to approve and incept A.T.E for approval Funds transferred Successful caseelectronically by law firm Failed case Case passed toClaim on policy submitted to for budgets, bill drafting and costs recovery CLAIMS SUPPORT SERVICES LIMITEDPremiums & Case TypesOur premiums are incredibly competitive, bearing in mind the extended cover they provide.Cases we currently insure and fund (both Fast Track and Multi Track)RTAEL/PLNIHLDISEASEHOLIDAY SICKNESSHOUSING DISREPAIRMEDICAL NEGLIGENCEQuite Clearly. Pure & Simple Funding

Benefits to law firmsAll disbursements (with the exception of marketing fees) can be funded.Cash flow freed up to fund growth.Balance sheet significantly healthier.Profits increased.Risk reduced.Ability to progress cases otherwise restricted by court fees etc.Opens door for further general bank support to grow firms.No longer required to instruct counsel on ‘no win no fee’ arrangements, therefore saving100% success fees.Payment of experts fees ealier, providing preferential treatment.Fully insured one of a kind scheme which insures the loan and interest in addition to thecase and other sides costs.Law firms were never intended to be funders for their clients, as parliament is determinedto cut legal costs and with it solicitors income, it is down to claimants to pay for theservices they receive.Deductions for premiums are not covered or capped by LASPO.How to apply/qualifying criteriaSend your request to join our panel to:[email protected] Quite Clearly. Pure & Simple Funding

INSURED-OFF BALANCE SHEET DISBURSEMENT FUNDING Powered byFUNDINGPure House, Building 9, Kings Business Park, Kings Drive, Prescot, Merseyside, L34 1PJ. E. [email protected] www.purefundingltd.co.uk