Singapore Ministry of Law’s New Conditional Fee Agreement Framework

[Gunnar Larson]

Check out my new article:
https://litigationfinancejournal.com/singapore-ministry-of-laws-new-conditional-fee-agreement-framework/#more-9848

*Singapore Ministry of Law’s New Conditional Fee Agreement Framework *

Today (May 4, 2022) marks a historic day in Singapore. Attorneys in
Singapore can now enter into conditional fee agreements (CFA) under
Singapore’s new CFA framework. The new CFA provisions are an addition to
traditional fee agreements under Singapore’s Legal Profession Act. The new
CFA framework in Singapore includes CFAs counter-party contracts such as
“win, more fee”, “no win, no fee”, and “no win, less fee.”

The new CFA framework
<https://www.mlaw.gov.sg/news/press-releases/2022-04-29-framework-cfas-in-singapore-commence-4-may-2022>
will
apply to Singapore-based attorneys, and in some instances to foreign law
practitioners. Mediation and arbitration will also be covered as part of
the CFA framework. This will include partial coverage of Singapore
International Criminal Court (SICC) proceedings.

According to the Ministry of Law, the new CFA framework aims to help build
out Singapore as a hub for litigation innovation, while enhancing aspects
of the country’s legal system.  As required by the Ministry of Law,
attorneys have strict requirements associated with CFA agreements.

Click here
<https://www.mlaw.gov.sg/news/press-releases/2022-04-29-framework-cfas-in-singapore-commence-4-may-2022>
to
read the details in full.
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