Conditional fee agreements (“CFAs“), which were previously prohibited under Singapore law, are now allowed for specific contentious proceedings. On 4 May 2022, the framework for CFAs in Singapore came into operation, opening the door for lawyers and clients to enter into a wider range of permitted fee arrangements. This development has been keenly anticipated in the legal industry, serving to enhance litigation funding in Singapore and support the dispute resolution needs of businesses and individuals.
In this Update, we provide an overview of the key elements of the newly operational CFA framework, including the permitted types of CFAs, the situations in which CFAs are allowed, and the requirements for a valid CFA.
For more information, click here to read the full Legal Update.
