Proposed Escrow Payment Service for barristers
Last day for expressions of interest to join a focus & design group
The NSW Bar Association, through Senior Vice-President Arthur Moses SC and the former treasurer, Justin Hogan-Doran, is working on a project with the National Australia Bank with the aim of providing members with an on-line escrow payment service, if they choose to use it.
Similar to a service already being provided by the English Bar to its members, the service would not be a trust account, but would allow members to arrange for client funds to be held on escrow with the bank as security for fees for appearance work, advice work and ADR etc. It is proposed that payment would be made against invoices and the funds held until paid, returned at the conclusion of the matter or until court order after any dispute about fees. The service would be fully on-line, with the funds held by the bank as stakeholder.
The service would be of use to members especially for matters where the solicitors do not operate trust accounts, or the solicitor or barrister wishes the funds to be held separately, and for direct access work, international work and ADR.
We invite interested members and clerks from across the bar’s practice areas to join a focus group to give feed-back on and aid in the design of the service, to help make it as useful as possible to all members. The group would work with Arthur Moses SC, Justin Hogan-Doran and a team from the National Australia Bank over the coming months. We invite all interested members and clerks to send an email to email@example.com by close of business today, 31 August 2016.
On Thursday, 29 September 2016, a general presentation about the proposed Escrow Payment Service will be held for members in the Bar Common Room. Clerks of Chambers are also invited to attend.
Chair: Arthur Moses SC
Presenters: Justin Hogan-Doran (7 Wentworth Selborne), Theo Gavrilos (head of Corporate Services, NAB) and Mr Murray Lord (senior legal counsel, NAB)
If you no longer wish to receive In Brief, please notify the Bar Association's Certification Officer