The loan contract is between Novitas and your client.
The money is drawn down from the facility as it is needed and paid directly to your suppliers to reimburse them for costs associated with the case. Your client does not have to use the entire loan amount and interest only accrues once the money is sent to your client account.
The loan operates on a no-win, no-fee basis, provided that the client continues with the claim until the conclusion of the court case. Where the claim is successful, the loan amount will be recovered from the opponent.
An After the Event (ATE) insurance policy is put in place from the start to cover the loan repayment if the case is not successful.