My business is in a financial dispute with a supplier

8 August 2023 | Disputes & Claims | Author: Emma Allen

My business is in a financial dispute with a supplier who says we’ve underpaid, we know we need to pay more should we make an offer to settle now?

The Courts have been encouraging defendants to make early offers for a few years now. The Courts can take a dim view of defendants who don’t make an offer when they have enough information and have the power to add costs penalties if they feel it’s necessary, which could mean you’ll pay more overall.

You’ll pay the other party’s legal costs if you admit fault. Making an early offer can reduce those costs by ending the claim. Recoverability of legal costs will depend upon the amount that is owed.

From 1st October 2023, a new intermediate track will start. It means that claims between £25,000 and £100,000 will be managed under the new rules and subject to fixed costs.

If you would like to know more please contact us