Chapter 2 defines the basic contours of the TPAF market. Observers of arbitration funding may predict that this market is growing in number and sophistication, making changes to the character of the market to be among the more dramatic facets of the arbitration system. Although certain influences tend to discipline the funding market, rights and duties arising out of the funding relationship may change as market activities cross national boundaries. This has created a competitive market between the key arbitration funding players. The funding market must respond to the “supply” and “demand” requirements of this market. While the law of demand governs the services requested by the funded parties, the law of supply governs the services generated by the funders. Chapter 2 then examines the new funding models that have emerged in the TPF landscape, their uses, misuses, and the pitfalls they present. In particular, Chapter 2 argues that the existing funding practices are not uncontroversial because they equate justice with economic concepts. Despite the simplicity of that concept, it misapprehends the objectives of arbitration with funding practices.

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