FAQS
- How does our funding work?
A signed Funding Agreement and Assignment Agreement are required once an application has been approved by our underwriters. Funds are advanced after these Agreements are received.
* NOTE: The language of the funding documentation, not the text of this website, governs the terms and conditions of the funding.
- What is non-recourse funding?
Nothing is owed if the case is lost.
Non-recourse funding is repayable only if the claim is successful, and only to the extent that there are proceeds remaining to repay the funding. There is no servicing of the funding and periodic payments are not required.
A minimum of $100,000.
- What are the interest rates?
Minimum of 2.4% compounded monthly (interest rate is determined by our underwriting department based on complexity, duration and risk of case).
- Is there an administration fee?
An administration fee applies only if the application is approved and the funding is accepted by the plaintiff. It is 7.5% of the amount of funding.
- When is the funding repayable?
It is repayable only when the case is resolved by way of a settlement or final court order.
- Does the lawyer or law firm guarantee the funding?
No.
- Can funding be used to pay costs for disbursements already incurred?
Yes. It can also be used to pay for anticipated expenditures.
The Funder requires an assignment of the litigation proceeds to the extent of the plaintiff’s obligations to the Funder.
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The Statement of Claim must be filed in a Canadian court
-
A case submitted for consideration must be for monetary damages and have an excellent likelihood of success as determined by Lexfund
-
The lawyer must also be approved by Lexfund.
-
The case must be worth at least $1 million.
FAQS
- How does our funding work?
A signed Funding Agreement and Assignment Agreement are required once an application has been approved by our underwriters. Funds are advanced after these Agreements are received.
* NOTE: The language of the funding documentation, not the text of this website, governs the terms and conditions of the funding.
- What is non-recourse funding?
Nothing is owed if the case is lost.
Non-recourse funding is repayable only if the claim is successful, and only to the extent that there are proceeds remaining to repay the funding. There is no servicing of the funding and periodic payments are not required.
A minimum of $100,000.
- What are the interest rates?
Minimum of 2.4% compounded monthly (interest rate is determined by our underwriting department based on complexity, duration and risk of case).
- Is there an administration fee?
An administration fee applies only if the application is approved and the funding is accepted by the plaintiff. It is 7.5% of the amount of funding.
- When is the funding repayable?
It is repayable only when the case is resolved by way of a settlement or final court order.
- Does the lawyer or law firm guarantee the funding?
No.
- Can funding be used to pay costs for disbursements already incurred?
Yes. It can also be used to pay for anticipated expenditures.
The Funder requires an assignment of the litigation proceeds to the extent of the plaintiff’s obligations to the Funder.
-
The Statement of Claim must be filed in a Canadian court
-
A case submitted for consideration must be for monetary damages and have an excellent likelihood of success as determined by Lexfund
-
The lawyer must also be approved by Lexfund.
-
The case must be worth at least $1 million.