The Indemnity Principal
Its quaint that we still have this. Please don’t misunderstand me, I have never knowingly breached it myself or on the behest of a client, but when we have things like discounted DBAs/CFA lite – it becomes all a bit moot doesn’t it?
I mean a retainer (which I must admit is rather beautiful in its conceptual form), which starts as a DBA, becomes a discounted CFA when proceedings are issued, which limits the clients liability to what is awarded/agreed with the other side (the ‘lite’ element) – well it shows you what can be done by some rather intelligent people, all of whom think the case is a winner and want to recover as much from the other side as possible.
Rumour has begun to spread (you heard it here first, roughly 3 months ago), that the DBA regulations are being ‘revisited’ (MoJ terminology for ‘amended’) as they don’t do what everyone wants them too. So in roughly 4 months my DBA/Discounted CFA-Lite will already be obsolete. I may run a competition to name the next creative retainer I come up with!