Construction claims funding
Access to Justice
Tungsten Capital’s claims funding service was the first of its kind, launched in the UK 2018 and introduced to the Gulf market and other global territories in 2020, in response to the changing needs of the construction industry.
It has been designed to address the increased risk taken on by contractors to the point of being prohibitively disproportionate, especially when set against the reality that most large construction projects include at least one claims notice over the course of their duration.
Our claims funding service provides domestic and international construction companies, subcontractors and construction industry consultants with a unique method of funding and developing commercially viable construction and engineering entitlement claims.
As experts in conflict resolution, we also see the funding of the claims process (distinct from the traditional litigation funding process), as a preferable pathway to limiting the chances of more damaging monetary costs and implications to working relationships and project completion in the higher risk arena of a a binary court decision.
We are the only company to provide claimants with a true “no win, no fee” alternative to the traditional approach where claims consultants are paid their fees irrespective of their performance or the outcome of the claim.
Developing an Entitlement Claim to internationally recognised standards is almost always the basis upon which a contractor or subcontractor can recover costs associated with delay, disruption and other forms of project-related loss.
Having already incurred considerable project losses and then having to employ a consultant has many disadvantages, such as:
- Adding considerable cost to an already strained balance sheet.
- Running the risk of being still further out of pocket should the claim fail.
Recognising the issues facing claimants, our claims funding service launched as a unique alternative to funding the development of such claims.
QuanturA© was our first fund, which launched in the UK in 2018 as a fully capitalised $7 million fund, offering full non-recourse, off-balance sheet funding solutions for claims of all sizes.
Following unprecedented success, by 2020 Quantura was fully subscribed, which led us to develop our second and largest fund; Anaconda. It is available to clients with legitimate claims around the world, and supports professional pathways to resolution.
Claims funding alliances
In 2020 we created the first of our first alliances, making our claims funding service available to other claims consultancies around the world. In doing so we are able to provide construction companies, subcontractors, and construction industry consultants around the world with a unique method of funding and developing commercially viable construction and engineering entitlement claims.