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Claim Evaluation and Reverse Auction Proposal
Defenders, claimholders, and claim providers should not wait until a claim is ripe for initiating, or is served, or even threatened against them, to start assessing their case, evaluating their strategy, and developing an action plan. The process should start once a dispute is contemplated, foreseeable, or even conceivable, it should begin to determine the potential of the claim. It evenly applies to legal proceedings that are already underway.
Practiclaim tech-enabled platform allows users to maximize their claims value and defence position at the outset, prior to settling, arbitrating/litigating or liquidating their position. Further to a free Pre-Assessment of qualified claims, it offers a swift and early multi-sourced no-obligation Claim Evaluation and Proposal from multiple specialist claim service providers, including representation fee, funding, and monetization options in a single document.
Once obtained, the well-informed user can objectively assess input, choose between claim service providers, and proceed according to its business needs and the strength of its claim: (1) by engaging more confidently in settlement negotiations or other dispute resolution procedures, or (2) assessing specific aspects of the claim in more detail, or (3) by preparing pre-contentious correspondence and strategies in advance, and (4) possibly defence with a solid claim or engaging defence along with the right team at optimal cost, while (5) increasing funding chances as well as the option to liquidate its position at any time by monetizing its claim.
Therefore, under this innovative claim incubation method, all minimally viable claims (MVC™) – which otherwise would not qualify for law firms’ contingency fee schemes or funders’ investment thresholds if submitted through the traditional channels – may be accepted in principle on a stand-alone basis.