Client account interest policy for client monies held in the London office client bank accounts

It is the firm’s policy to account to our clients for a sum in lieu of interest on a fair and reasonable basis in accordance with Rule 7 of the SRA Accounts Rules. In particular:

• Client monies will be deposited in a general client account, in which amounts for different matters and clients are pooled.
• Interest will only be paid in connection to monies received in connection with a transaction payment (“Client Transaction Funds”).
• Interest will normally be calculated at a rate equivalent to that available to Linklaters after the transaction has concluded.
• If the total amount of interest calculated over the course of the transaction is less than £500, no payment in lieu of interest will be paid.   
• It is unlikely that a client will receive as much interest as might have been obtained had the funds been invested by the client itself. 
• The client may decide to instruct Linklaters to donate the interest amount to Charity.