The City of London Law Society and Commercial Bar Association have published model terms of business for barristers instructed in commercial cases after more than two years of negotiation. The Bar Council’s new standard terms were deemed unacceptable by some solicitors.
Barristers could end up uninsured and in financial hardship if they agree to variations of their new standard terms of contract recommended by the Law Society, the Bar Council has warned. It said it was “surprised and disappointed” at the tone of Chancery Lane’s practice note.
The Law Society has urged solicitors to protect themselves against the new terms of business being introduced by the Bar next week because they are “weighted strongly” in favour of barristers. From 31 January the traditional default system of non-contractual terms will be replaced.