Commercial litigation can be a risky process. Therefore, the demand for alternative funding is steadily increasing over time. It’s, therefore, necessary for you to choose the best option for you before embarking on the journey.
In this post, we will provide you with a few tips and tricks to secure the best deals for commercial litigation funding. Have a look.
Know your needs
Prepare yourself thoroughly for the submission of your application.
Most funders would like to see a detailed breakdown of your demand. Meaning, an application coming with a grand total of say, $75,000, will most likely be rejected than the one breaking the sum into individual areas starting from pre-litigation to negotiations.
Therefore, be prepared in knowing exactly what you need for each step of the process.
Explore options
The litigation funding market is well on the rise. So do not hesitate to pursue options.
Remember, you are in the shoes of a customer. Just because your application’s accepted, it doesn’t mean there are no better funders available out there. So brace yourself and do accordingly.
Be adequately responsive to your funders
Commercial litigation can be a time-consuming process. Third party funding may even add to that pressure.
Hence, make sure you respond, answer, advise, and deal with all inquiries from the funders in a friendly and timely manner to smoothen up the entire procedure.
It is true that you are the customer here, but at the same time, it is also true that they are investing money in your case. Hence, treat them as such (like a long, established and valued customer) and you may actually get the same response back in due time.
Set your case up properly
Take the advice of a lawyer and set your case up properly. This can also make you aware of how much your claim can be of worth.
The involvement of a credible lawyer can also improve your overall litigation credibility; something capable of strengthening your application a lot in the long run.
In case your application’s rejected, ask for feedback
Rejections aren’t unnatural as far as commercial litigation funding services are concerned. If you face any of such rejections scenarios, never forget to ask why.
Remember, just because one funder rejects your application, another will also follow suit. Any feedback provided can only help you strengthen your applications that you are going to make to your second option.
Be creative with your case prospects
The better the prospects of your case, the better the chance of you getting good funding offers from credible funders.
It’s, therefore, advisable to be creative in coming up with ways to increase the prospects of success of your case. These steps can result in massively improved funding offers at the best possible rates.
Last but not the least, resubmit your application
If rejected, do not lose heart. There’s always a second option. Refer to the tips above, learn from your mistakes, and resubmit the application to a third party funding firm London. Who knows? You might just be in luck!