Costs Budgeting & Management
Following the introduction of the Jackson Reforms in April 2013, Costs Budgeting became compulsory for most Multi-Track cases. It is our experience that the vast majority of clients who work with us on their Budgeting and Management, see a positive impact on their costs approval or agreement.
It has now become even more important to be proactive in taking steps to plan litigation effectively, in order to maximise recovery. The direction of the litigation needs to be considered in detail and the provisions made inserted into the budget, which will be exchanged between the parties under a tight timescale, prescribed under the Civil Procedure Rules and Order made by the Court. These are agreed cross-party or approved by the Court and recorded on file.
Getting your Costs Budget wrong could be catastrophic to the recovery of costs between parties, as the Court will take budgets into account when assessing costs at the conclusion. It is crucial that your Costs Budgeting is accurate and correct and that appropriate representations are made against those of your opponent.
Similarly, you also need to understand the Budgeting limitations.
How Can We Help Improve Your Chances of Budget Approval?
Our dedicated team are experts in the preparation of accurate and realistic Costs Budgets. They will work with you at every stage to ensure they understand your individual approach, providing a bespoke service whilst working within the defined parameters of the Costs Management process.
Our services include the provision of a full Costs Budgeting and Management service, including;
- Drafting an initial Budget (Precedent H)
- Preparation of Budgets in-house (should this be required)
- Scrutinising and considering opponents’ Budgets in conjunction with your own
- Attendance at Costs Management Conferences on your behalf (should this be required)
- Advocacy at any case management stage which requires costs input by our specialists
- On-going monitoring to ensure your spend is within Budget for each phase of the litigation process
- If the Costs Budget is likely to be exceeded, we can advise you of the required revisions and update the Budget accordingly.
For urgent work, we can arrange attendance at your offices to allow the work to be carried out in-house if required. Alternatively, we can arrange the free, urgent collection of your files by our in-house Courier service.
If you have queries about Costs Budgeting & Management, call our Costs Lawyers & Law Costs Draftsmen now on 01480 463499 or complete the online contact form.