Research On Third Party Funding In International Commercial Arbitration

Third party funding refers to the way that the third person or entity contributes fund or other financial support to a party in arbitration and has a direct economic interest in the award to be rendered in the arbitration.Third party funding to arise in the field of dispute resolution has a long history,and the earliest forms were in the common law countries and regions that the feudal lords invested litigations to obtain more land.But third party funding are defined as maintenance and champerty,and was banned in those countries and regions.However,with the development of global economy,some countries and regions have relaxing situations for the third party funding.It makes third party funding began to rise gradually,from the field of litigation to the field of arbitration.Third party funding in arbitration can ensure the party in arbitration exercise rights in plentiful way,can transfer the cost of arbitration.It also provides the new financing channel for funders.Therefore,third party funding have certain value of promotion in arbitration.However,it should be noted that third party funding arbitration bring a series of questions,such as abuse of the rights by the parties in arbitration,violation of the secrecy of the arbitration and the undue influence on the arbitration.Therefore,third party funding in arbitration needs to be guided.Third party funding in arbitration is still at the initial stage for our country,and there are not a large number of cases on third party funding in arbitration.However,there is great potentiality for third party funding in arbitration in China.At the same time,the establishment of third party subsidy arbitration system is also necessary and feasible for our country.In order to research how to regulate third party funding in arbitration,based on plenty of authorities and case laws,the analyses are conducted as follows:The first chapter gives a brief summary of the third party funding in arbitration,clarifies the difference between third party funding in arbitration and the similar concept by analyzing the meaning and the characteristics of the third party funding in arbitration,and by comparing the related concepts,and the formation and development of the third-party funding in arbitration are also reviewed.The second chapter analyzes the advantages and issues of the third party funding in arbitration,and expounds that the third-party funding arbitration has the value of promotion,but the third party funding in arbitration needs to be regulated.In Chapter Three,the necessity of regulating third party funding arbitration is discussed,and the corresponding regulation proposal is put forward.On the basis of the first three chapters,the fourth chapter discusses the necessity and feasibility of constructing the system of the third party funding in arbitration in our country,and constructs the arbitration system which is in line with the international practice to better adapt to international arbitration to provide some reference.