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The Nexaconnex team
NexaConnex provides the LFC with lawyers “on demand” in a number of specialisms to support both ongoing and new transactions, and now with some disputes.
NexaConnex provides the LFC with access to an agreed team of lawyers and they can choose the lawyer most suited to the available work. The lawyer team supporting the firm has grown over time as additional capacity and specialisms have been requested.
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How the relationship works
NexaConnex has put in place a collaboration agreement with the firm. The contracting entity is Nexa Law Limited, our SRA regulated entity.
A Data Processing Agreement is also in place to facilitate compliant access to the firm’s practice management system using laptops supplied by the firm.
NexaConnex has no direct contractual relationship with the ultimate client.
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How work is managed day-to-day
NexaConnex lawyers have full access to the LFC’s practice management software to save all correspondence and documentation, as well as email and time recording software. The relevant law firm Partners are copied in on correspondence where requested.
NexaConnex lawyers are introduced to clients as consultant members of the LFC’s team and have direct contact with clients.
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Risk management and liability
Advice from NexaConnex lawyers is insured by Allianz under its professional indemnity policy with Nexa. This protection is provided to the law firm, with the ultimate client being covered by the firm’s own policy.
NexaConnex lawyers follow the firm’s risk management procedures in relation to, for example, suspicious transactions and undertakings and conflict checks, including conflict checks against Nexa clients.
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Pricing
NexaConnex lawyers record their time on each matter and the law firm exports the time recording data to NexaConnex at the end of each month.
NexaConnex raisesa monthly invoice to the LFCfor the work of its lawyers at the agreed hourly rate. The firm uplifts the NexaConnex rate to the ultimate client so that it is able to make a margin on the work undertaken.
