Purpose of the fund
In terms of section 26 of the Attorneys Act, No. 53 of 1979 (“the Act”), he primary purpose of the Attorneys Fidelity Fund (‘the Fund’) is to reimburse clients of attorneys who may suffer pecuniary loss due to the theft of money or property entrusted to an attorney in the course of his/her practice as such, or where an attorney acts as executor or administrator in a deceased estate, or as a trustee in an insolvent estate. (Section 26 of the Attorneys Act, 53 of 1979)
Fund of last resort
The Fund is a fund of last resort. If it is apparent that stolen money or property can be recovered from another source, the Fund will require a claimant to first exhaust all available legal remedies against all persons liable in law.