Law firm Halliwells has launched adjudic8, a fixed price adjudication service for the construction industry
The firm claims that 60% of adjudications in the UK are decided within 28 days, and this £8,000 one-off fee is suitable for any claim between £40,000 and £1,000,000.
David Fearon, partner in Halliwells construction team, has led the development of the project. He claimed the benefit of the product is that it gives cost certainty for users.
He said: "I came back from my honeymoon and found out the company I [previously] worked for had gone under while I was away due to cash flow problems. I have a deep understanding of how important cash flow is in the industry, and how important adjudication is."
Adjudic8 has been launched in response to the 6% drop in referrals through Adjudication Nominating Bodies last year. Halliwells claimed this drop is because of a perception that adjudication is too expensive.
"We have years of experience having done this so I am confident we can provide the support necessary for a 28-day adjudication, and we can do that for the lump sum price," said Fearon.
Halliwells is also set to host seminars across the UK to support the launch.
I have a deep understanding of how important cash flow is in the industry, and how important adjudication is
David Fearon, partner, Halliwells
Adjudic8's main features include:
• Fixed-price adjudication for claims from £40,000-£1,000,000
• One-off fee of £8,000
• For £10,000-£40,000 adjudic8 is available for 20% of the claim value
Is adjudication too expensive? Send your views by emailing us at qsnews@cmpi.biz
Source
QS News
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