What is a Costs Advance Facility? 

Nera Capital’s Costs Advance Facility (CAF) can advance funds against the expected cost settlement direct to your law firm’s account. This provides your law firm with cash flow to maximise the profitability of a case at the time of issuing the bill. It enables your firm to be patient and not to be forced to accept a reduced settlement of costs, which is often driven by the constraints of cashflow needs rather than securing the true value of the Bill of Costs. 

Despite your law firm having already won a case, it may often take time for you to negotiate and actually collect the agreed costs. Negotiating the draft bill can be a protracted affair, with interim payments becoming more difficult to obtain. Third party insurers are increasingly drawing out payment and firms can find themselves in a difficult position regarding cashflow; resulting in the negotiations of settlement offers being affected by this.

The time-consuming process between settlement of a case to final collection of costs is a growing problem for law firms but a Costs Advance Facility can be a great solution.  

What are the Benefits? 

Nera Capital are in the business of supporting law firms and what makes our CAF different to others on the market is that there are No Monthly Repayments required. See the list of other key benefits below: 

• Structure of the facility is simple and quick to put in place 
• Funding is easy to administer, with a simple drawdown process
• Repayment of capital is made only when each bill is settled and you are inn receipt of funds so there is no ‘repayment risk’ to your firm 
• Interest is paid in full when capital is repaid – there are NO MONTHLY PAYMENTS of interest 
• Competitive interest rates 
• No restrictions on use of funds 
• Fast, responsive service from your dedicated Nera Capital team 
• Empowers law firms ability to reject low offers when necessary and wait for a true value settlement, thereby increasing the profitability of the firm 

Planning the Future

With our CAF, your law firm can access valuable cash tied up in Bills of Costs and is designed to assist firms in the management of their cash flow, growth projections and therefore can lead to an increase in a firm’s profitability. 

Commitment to Service 

At Nera Capital, we are committed to excellent customer service. Unlike traditional lenders, we strive to make the funding process as quick and simple as possible. We look to work with law firms to help them grow and support them in any way that we can. 

Email Charlie at cokelly@neracapital.com to find out more