Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Funding agreement definition

What does Funding agreement mean? In construction practice, a funding agreement is the finance contract—often a loan or development facility—under which a lender provides development finance to the employer/developer for a construction project. The expression is descriptive rather than defined by statute or case law, and is used across construction finance. Typical features include: conditions precedent (for example executed building contracts and professional appointments, collateral warranties/third‑party rights, insurances and planning), drawdown mechanics and use of proceeds, cost‑to‑complete and contingency controls, monitoring surveyor reporting, financial and project covenants, consent rights over variations and extensions of time, undertakings to provide information, events of default and drawstop...

A Practitioner's Guide to Third-Party Litigation Funding in England and Wales: Champerty and Maintenance, LFAs, PACCAR, Regulation, Costs Recovery, Non-Party Costs Orders and Security for Costs

Published by a LexisNexis Dispute Resolution expert

Practice notes

What is third party litigation funding?

Third party funding (TPF) is now a significant element of the UK litigation landscape. This Practice Note addresses TPF obtained by a litigant under a litigation Funding agreement (LFA) with a commercial litigation funder, or another person who finances the case yet is not a party to the proceedings. A commercial funder’s objective is to invest for a prospective return, whereas a litigant typically seeks TPF either to pursue litigation they could not otherwise afford (thereby facilitating access to justice), or to manage their own financial exposure to the Costs of bringing a case. Lord Justice Jackson, who led the 2010 Civil Litigation Costs Review, characterised TPF as funding provided by someone with no pre-existing interest in the dispute, commonly arranged on terms that:

the funder is paid from any sums recovered as a result of the litigation, often as a percentage of the amount obtained; and
the funder receives nothing if the claim is unsuccessful.

TPF...

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Joseph Evans

Charles Russell Speechlys LLP

Joseph is a solicitor-advocate who undertakes all aspects of commercial litigation work, specialising in insolvency disputes.Joseph assists officeholders with their investigations into insolvent companies and individuals, both in the UK and overseas, with a view to recovering misappropriated funds for the estates. Joseph works on cases involving fraud, misfeasance, negligence and tax avoidance. Joseph often acts for claimants on a contingent basis where appropriate. Joseph also has a specialist practice advising stakeholders on structuring alternatively-funded cases, including implementing litigation funding and CFA/DBA arrangements....

Web page updated on 21/05/2026

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