Bar Council launches ‘BARCO’
27 Sep, 2012
Working with the bar has never been easier
The Bar Council, which represents barristers in England and Wales, will this evening, at the Rolls Building, launch a unique new service. ‘BARCO’ provides a straightforward, easily accessible, client-focused facility, whilst maintaining the Bar’s high quality and cost effective services.
BARCO is a third party escrow account which holds client money, allowing barristers to offer a full range of legal services without breaching the Code of Conduct and handling client money themselves, making it easier than ever to work with the Bar.
BARCO delivers a simple and secure system, operated through one of the world’s leading financial institutions, for handling client payments and provides flexibility and adaptability, enabling the Bar to offer even better value competitive legal services.
BARCO will launch formally in 2013 after a national road show of the Bar this autumn and an initial pilot phase.
Michael Todd QC (pictured), Chairman of the Bar, said: “I am delighted to be launching BARCO which, we believe, will be one of the most important developments in the legal services sector since the Legal Services Act came into force.
“Demand for barristers’ advocacy and advisory services is growing all over the world. Domestic and international clients of all sizes, which regularly turn to the Bar, need a trustworthy and transparent vehicle to manage payment of their legal and litigation costs.
“BARCO puts the Bar on a level-playing field, whether through the traditional referral model, offering Public Access services, or, in the future, structuring itself as an entity.
“BARCO is more than simply a bank account. It provides clients with the facility seamlessly to access the full range of the Bar’s high quality services, and it enables the Bar to change its business without changing the way it does business.
“The Bar is a forward-looking and modern profession which can tailor its services to ensure it remains relevant to its diverse and growing client base, and BARCO provides an ideal platform through which the Bar can handle its financial affairs.
“It is a significant investment in the Bar’s future. It is good for clients, good for the Bar and good for competition in the legal services market.”