For cases with the same characteristics, Harbour provides a drawdown facility, providing certain case categories have been verified against agreed criteria. This option simplifies the signing up of successive cases which fall within a pre-defined type.
Harbour approves an agreed amount of funding, depending on the nature of the cases and likely average size of budget. The law firm verifies that each case brought within the facility always complies with the pre-agreed funding criteria.
The agreed approval process:
- reduces the administration for all parties involved
- achieves a speedy sign-up
- allows activation of the claim without the need to get each individual case approved at our fortnightly investment committee
If the case satisfies the criteria, the law firm simply confirms the details of the case, value, budget etc. and Harbour signs off the investment agreement. The option remains to continue to ‘top up’ or increase the amount of funds available for drawdown as more cases are added.