Case-cost funding is capital advanced to a firm to pay the out-of-pocket costs of pursuing matters, such as experts, filing fees and discovery, and repaid from fees on resolution. It supports the investment a firm must make before it is paid.
Costs on complex matters can be large and arrive early. Funding them lets a firm take on matters it could not otherwise carry, and it ties repayment to resolution of the specific matters or a defined pool.
The lender evaluates the matters being funded, the firm's discipline in budgeting and the chance that costs exceed what the matter can bear. A cost advance is exposed to outcome risk and duration risk together.
Case-cost funding is not working capital for the firm's general expenses. It is tied to the cost of specific cases.
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