|
Third Party Funding (“TPF”) is not an unfamiliar practice in international commercial arbitration.  It is a mode available to parties to an arbitration to seek financial support from parties who are not (the “Third Party Funders or TP Funders”) to commence and continue an arbitration to its conclusion. In providing financial support, the TP Funders assume the risks of their ‘investment’; if the arbitration claim is successful, the TP Funders would receive an agreed pay out, usually a percentage of the arbitration award, otherwise, the TP Funders assumes the risk of nil returns if the claim fails.
|
COVID-19 has changed our lives, and undoubtedly, the way we work. Fortunately for those familiar with the practice of international arbitration, the pandemic has merely accelerated certain trends that had already begun before it hit.