Inside Arbitration: Beyond The Hourly Rate – What Are The Options? (Video)

With the number of ways to pay for legal services growing, we assess how third-party funding and alternative fee arrangements can help businesses

Our clients are used to paying lawyers on an hourly rate. While this is often the right option, there are many other practical alternatives. Over the past decade the legal landscape has shifted in many jurisdictions allowing for more innovative ways of providing legal services, particularly in arbitration. Historically, many of these options have been viewed as ways of allowing insolvent companies access to legal advice to bring a legitimate claim against a counterparty. But in practice, third-party funding and alternative fee arrangements (AFAs) can help a broad range of clients manage the costs associated with disputes. This includes solvent businesses who can use these novel structures to deploy their cash flow elsewhere and share risk and reward with their lawyers or a third party.