LawyerClientConnect completes first Interim Payments transaction

LawyerClientConnect has completed its first Interim Payments transactions, giving law firms access to 75% of fees they had already billed, while they wait for payment from the clients.

The launch follows the company's September announcement that law firms, barristers' chambers and specialist legal organisations representing approximately 850 legal fee earners were on its platform within six months of launch.

Interim Payments allows eligible law firms to access up to 75% of qualifying billed fees ahead of payment, without assigning the debt or involving the client. It sits alongside LawyerClientConnect's existing Client Fee Finance service, which enables eligible clients to spread the cost of legal work.

Conrad Blanchard, CEO of LawyerClientConnect, said: "A client may need legal advice before they can afford to pay for it. A law firm may have done the work and sent the bill but still be waiting to get paid. We built LawyerClientConnect to address both problems, and completing the first Interim Payments transaction means both services are now working in practice."

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