Conditional Fee Agreement Template for Singapore

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Key Requirements PROMPT example:

Conditional Fee Agreement

"Need a Conditional Fee Agreement for our Singapore law firm to represent a corporate client in a commercial dispute, with a base fee of $500/hour and 50% uplift fee upon successful recovery of at least $2 million, starting March 2025."

Document background

Conditional Fee Agreements were introduced in Singapore through amendments to the Legal Profession Act in 2022, modernizing the legal funding landscape. These agreements enable law practices to offer fee arrangements where a portion of their fees depends on achieving specified outcomes. CFAs are particularly valuable for clients seeking access to justice without substantial upfront legal costs, while ensuring law practices can share in the success of cases they handle. The agreement must comply with strict regulatory requirements, including clear success definitions, fee calculations, and client safeguards.

Suggested Sections

1. Parties: Identification of the law practice and client

2. Background: Context of the agreement and nature of the legal proceedings

3. Definitions: Key terms including 'success', 'uplift fee', and 'base fee'

4. Scope of Legal Services: Detailed description of legal services covered by the agreement

5. Fee Structure: Base fees, success fees, and uplift calculations

6. Success Criteria: Clear definition of what constitutes 'success' triggering the uplift fee

7. Termination Provisions: Circumstances and consequences of early termination

Optional Sections

1. Third Party Funding: Required if external funding is involved in the proceedings

2. International Proceedings: Required for cases involving cross-border elements

3. Cost Protection: Optional provisions for managing adverse costs risks

Suggested Schedules

1. Fee Schedule: Detailed breakdown of base fees and uplift calculations

2. Risk Assessment: Analysis of case prospects and associated risks

3. Client Acknowledgment: Mandatory client acknowledgments of understanding CFA terms

4. Scope of Work: Detailed description of legal services and deliverables

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Legal Services
Financial Services
Corporate
Insurance

Relevant Teams

Legal
Finance
Risk & Compliance
Operations

Relevant Roles

Managing Partner
General Counsel
Litigation Partner
Chief Financial Officer
Risk Manager

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Let's create your Conditional Fee Agreement

Authors

Alex Denne

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