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FAQ’s – Disbursement Funding

We add your questions about disbursement funding to our website – the latest ones are at the top.

How do I obtain disbursement funding for my clients?

Please complete the Application Form and return it, with the accompanying documents requested to

How long does it take to set up disbursement funding?

If a facility is agreed this can be available within 10 working days of signing the agreement.

Who is the money loaned to?

The credit agreements are between Temple Funding and the individual clients.  Money is drawn down into your firm’s client account to pay for disbursements.

Who issues the credit agreement to my client?

Your firm will issue the credit agreements to your clients through Temple’s Online Policy System (TOPS).
The credit intermediary agreement clearly sets out the procedure for issuing credit agreements.

When can the credit agreement be issued?

A credit agreement can only be issued once a Temple ATE insurance policy has been issued.  Once this is in place, money can be drawn down at any point in the case as required.

How much can I draw down for each client?

This depends upon the case and the anticipated disbursements at the outset. The Credit Agreement will specify the limit with the ability to increase it if necessary.

What are the charges?

There are no costs to your firm at all and there are no set up fees for the client. Interest is charged only on funds drawn down.

Rates are competitive – from just 10%. Payment of the interest and draw down fees is deferred until the conclusion of the legal action.

Is there a maximum aggregate amount that my firm can provide?

Yes, we will assess this on receipt of the Application Form.

When is the credit repaid?

When the case is concluded.  If the case is successful, the disbursements should be recoverable from the opponent.  Interest may also be recoverable.  The draw down fees and any irrecoverable interest must be repaid out of your client’s damages.

If the case is unsuccessful then the ATE insurance policy will reimburse Temple Funding (including disbursements, interest and drawn down fees).

The client may choose to repay some of the credit earlier and there is a mechanism for doing so in the credit agreement.

Do Temple Funding Limited carry out credit checks on clients?

Temple Funding Limited are not registered with a credit reference agency and do not carry out credit checks on clients as part of the funding process. We reserve the right to carry out such checks if required.

My client is subject to an IVA, does this cause a problem entering into a Credit Agreement with Temple Funding?

If the terms of the IVA preclude your client from taking out contracts of insurance and credit agreements, then we would not wish to encourage him to breach such terms. That said, you could explore with the administrators of the IVA to see if there is any flexibility to allow the client to support their legal case.
The ultimate success of the client’s case could enable them to repay some of his debts. Conversely, they may decide that there is a potential for additional liabilities for the client, which they would not wish to agree to.

Are Temple Funding Limited regulated by the FCA?

Yes, we are fully authorised and regulated by the FCA to carry out a regulated financial service activity and offer credit to consumers by way of Disbursement Funding.

Do we need to be FCA regulated to offer funding to our clients?

No, the reason for this is that as an exempt professional firm, you can provide some regulated products and services as part of your normal professional services without being authorised or an agent of an authorised firm. You remain regulated by the SRA. You must be registered as an exempt firms on the FCA register which the SRA can arrange for your firm upon request.

Does it cost my firm anything to set up disbursement funding?

There are no charges to your firm.