BARCO

You are not entitled to handle client money (see the BSB Handbook rC73).

You can however use a third party payment service under rC74.  BARCO is the body which has been established by the Bar Council for this purpose.  This service is likely to be particularly important for you if you are working on a Public Access basis.

In order for BARCO to accept payments all the parties must have signed the standard BARCO Framework Agreement.

The person who pays for this service is the barrister (the charge is approximately 2% of funds transferred).

All the interest paid whilst the money is in BARCO is paid to the client.

See also:

http://www.barcouncil.org.uk/supporting-the-bar/barco/

http://www.barcouncil.org.uk/media/309604/guidance_for_barristers.pdf

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