Policies

Gilbert Stephens LLP is regulated by the Solicitors Regulation Authority (Number 536070) and authorised and regulated by the Financial Services Authority (Number 521029). We have gained both Lexcel accreditation and Investor in People status.

Our Equality and Diversity policy

The firm's statement of principle on equal opportunities is:

"The firm is committed to a policy of treating all employees, job applicants, clients, professional advisers and associated third parties equally. No individual shall receive less favourable treatment on the grounds of:

(a) race, colour, nationality, ethnic or national origins

(b) religion or belief

(c) sex or marital/civil partner status

(d) sexual orientation

(e) gender reassignment

(f) age (or perceived age)

(g) disability (past or present)

(h) trade union membership (or non-membership)

(i) part-time or fixed term status

(j) No employee or potential employee shall be disadvantaged by any conditions of employment that cannot be justified as necessary on operational grounds.

(k) The firm aims to encourage, value and manage diversity and is committed to equality for its entire staff. The firm wishes to attain a workforce which is representative of the communities from which it is drawn."

The firm's full Equal Opportunities Policy is available on request. Please make your request by phone - 01392 424242 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Our client account interest policy

Policy for payment of interest on funds held on client account

1. Rules 22 and 23 of the SRA Accounts Rules 2011

We are required to pay interest on funds in client account "when it is fair and reasonable to do so in all the circumstances" (Rule 22(1)) and to have "a written policy on the payment of interest, which seeks to provide a fair outcome" (Rule 22(3)). "The interest paid must be a fair and reasonable sum calculated over the whole period for which the money is held" (Rule 23). Our policy is based on client funds being held in an instant access account with our bank to facilitatethe transaction for which the funds are held, and seeks to match the level of interest which our clients would receive on funds placed in an instant access account with the bank. This policy mustbe brought to the notice of our clients at the start of their retainer (eg: as part of our Terms of Business).

2. General client account

We will normally pay interest (where appropriate) within 28 days of completion of the matter or other termination of the retainer on funds held in our general client account where the balance shown on the left in the table below is held for longer than the period shown on the right.

Amount Period

£1,000 8 weeks

£2,000 4 weeks

£10,000 2 weeks

£20,000 1 week

If we hold more than £20,000 for less than a week or a smaller sum over a longer period, we will allow interest where it is fair and reasonable to do so. We will apply a de minimis figure of £25.00 below which no interest will be paid and any interest earned will be retained by the firm. If funds are held at the same time on separate matters for the same client such funds will normally be treated separately for interest purposes, but they may be aggregated where the matters are so closely related that it is fair and reasonable to do so. Interest will be compounded at the same intervals as applied by our bank.

3. Designated deposit accounts

All interest earned on a designated deposit account will be allowed to the client. A reasonable charge may be made for setting up and operating a designated deposit account.

4. Clearance periods

We will operate a clearance period of 3 working days on incoming and outgoing payments by cheque. Receipts and payments by electronic bank transfer (including CHAPS) or banker's draft will be treated as cleared on receipt or payment for interest purposes.

5. Review

We will review this policy and publish any changes not less than 12 monthly or whenever there is a significant change in the bank base rate.

Web complaints handling statement

Gilbert Stephens LLP is committed to high quality legal advice and client care. If you are unhappy about any aspect of the service you have received please contact Alistair Heron on 01392 424242 This e-mail address is being protected from spambots. You need JavaScript enabled to view it or by post to our office at 17 Southernhay East, Exeter EX1 1QE. A copy of our complaints policy is available on request.