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2 Representing Claimant: Pre-Arbitration Considerations

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Chapter Summary

The cost of pursuing an investor-state arbitration to a final award that is, the costs of counsel, arbitrators, and expert witnesses will easily exceed one million dollars. By far the largest element of this total cost is the cost of counsel, but costs of expert witnesses and arbitrators can each easily come to hundreds of thousands of dollars. As for how one pays these costs, there are essentially three ways; pay customary rates of counsel, experts and arbitrators directly and in full, pay counsel through a contingency-fee arrangement in which counsel charges nothing or a reduced rate in exchange for a right to receive a percentage of any award or settlement, and engage the services of a third-party funder, which generally will pay all of the costs of arbitration and, much like a law firm on a contingency-fee, receive in return right to receive a percentage of any award.

Keywords: arbitration; contingency-fee; customary rates; third-party funder

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