We are obliged by the Solicitors Regulation Authority to have professional indemnity insurance in place. The level of cover we have in place is £3 million. The territorial coverage of this insurance is worldwide.
As the identity of our professional indemnity insurer may change from year to year in the event you require details of our current insurer these are available for you to inspect at our office or in the alternative we can provide you with these details upon request.
Our maximum liability to you in this matter will be £3 million including interest and costs unless we expressly state a different figure in our letter confirming your instructions. If you wish to discuss a variation of this limit, please contact the person dealing with this matter. Agreeing a higher limit on our liability may result in us seeking to increase our charges for handling your matter. We will not be liable for any consequential, special or exemplary damages or losses or any damages, costs or losses attributable to lost profits or opportunity.
Your contract Is solely with TLW Solicitors Limited, which has the sole legal liability for the work done for you and for any act or omission during the course of that work. No representative, director, officer, employee, agent or consultant of TLW Solicitors Limited will have any personal legal liability for any loss or claim.
Unless explicitly agreed otherwise, In writing;
- we do not owe, nor do we accept, any duty to any person other than you: and
- we do not accept any liability or responsibility for any consequences arising from reliance on our advice by any person other than you.
We are not responsible for any failure to advise or comment on matters falling outside our Instructions as set out In these terms and conditions and/or our client care letter.
We will at all times comply with our obligations under the Solicitors Accounts Rules for the handling and deposit of money on your behalf. Client funds are placed with financial institutions of good standing. This is currently Natwest Bank Plc. We do our best to monitor those accounts where client accounts are held to assess the risk to client funds.
Where practicable and if you so request in writing, we will discuss with you the financial institution with which your funds will be deposited in order to maximise your opportunity to benefit from the Financial Services Compensation Scheme (“FSCS”).
The FSCS is the UK’s statutory fund of last resort for customers of banking institutions. The FSCS can pay compensation up to £85,000 if a banking institution is unable, or likely to be unable, to pay claims against it.
The limit is £85,000 per banking institution. If you hold other personal money in the same banking institution as our client account[s], the limit remains £85,000 in total.
Some banking institutions have several brands. The compensation limit is £85,000 per institution, not per brand. You should check with your banking institution, the FCA or a financial advisor for more information.
The FSCS also provides up to £1m of short-term protection for certain high balances, eg relating to property transactions, inheritance, divorce or dissolution of a civil partnership, unfair dismissal, redundancy and personal injury compensation (there is no financial limit on protection for personal injury compensation). This is called the temporary high balance scheme and, if it applies, protection lasts for a maximum of six months.
The FSCS (including the temporary high balance scheme) will apply to qualifying balances held in our client account. In the unlikely event of a deposit-taking institution failure, we will presume (unless we hear from you in writing to the contrary) we have your consent to disclose necessary client details to the FSCS.
Please let us know if you would like us to explain any of the above terms above.