The Loan Agreement sets out the basis on which we will fund disbursements for you. In particular, it will detail the facility type, amount approved, interest rate, establishment fee and term of the facility.
The Loan Agreement is between Providior and your Firm. It is not between Providior and your client. You are legally responsible to repay the outstanding amount (total disbursements funded plus interest accrued) irrespective of the outcome of the file. Our funding is not offered on a speculative basis.
Your Firm would typically have a signed Costs Agreement and/or Disclosure Statement with your client that:
- Authorises your Firm to obtain funding from Providior to pay disbursements
- Authorises you to pay Providior the total amount of disbursements plus interest accrued from settlement funds (upon the successful completion of the file)
- Specifies that if the file does not successfully conclude, then they will not be responsible for repaying outlays or interest accrued