Research On The Scope Of Disclosure Of Third-Party Funding Agreement In International Investment Arbitration

International investment arbitration is an important way to resolve the disputes between investors and countries.International investment arbitration may bring huge benefits,attracting more and more Third-party funders to participate in the funding of international investment arbitration.These years,the third-party funding began to develop industrially and professionally.The number of third-party funders,cases,and the law firms working with third-party funders are all increasing.For the normal definition of third-party funding,it is the parties of any natural person or legal person,accordance with the agreement between it and one party or its affiliated parties in the dispute,provide the behavior of physical or financial support,and will get all or part of the compensation base on the result of the arbitration.At present,the regulations on third-party funding in the arbitration field are limited to the existence of the funding agreement and the identity information of the funders,except for Singapore.There is debate about whether the terms of the funding agreement should be disclosed.In this paper,in order to build a more perfect third-party funding disclosure rules,research on the scope of disclosure of the funding agreement.The first part of the article is to discuss if any part in the funding agreement should be disclosed for the significant influence on arbitration.Include of the right of control and the right to know the information of arbitration,the clause of the dispute settlement,the proportion of the arbitration income distribution,the scope and quota of funding,termination and withdrawal,and the clause of the composition of the advisory team of the funding agreement.The second part discusses the theoretical basis for confirming the scope of disclosure in the content of the funding agreement.First,the international investment arbitration has its special intrinsic attribute.On the one hand,the content of the dispute involves the public attribute.On the other hand,the settlement of disputes is the fundamental purpose of international investment arbitration and should not make arbitration become a profitable tool for others.second,due to the particularity of international investment arbitration,the balance between confidentiality and transparency must be emphasized in the arbitration process.Third,the continued development of international investment arbitration needs to maintain the stability of arbitral awards on similar issues,that is,to improve the predictability of arbitration results.Fourthly,international investment arbitration is a kind of international relief method generated by the host country in order to improve the investment environment and give investors a relatively fast and convenient way to solve disputes.The healthy development of investment arbitration depends on the equal protection of both parties' interests.The third part of the article,combined with China's attitude to international investment arbitration and the status quo of regulation,puts forward suggestions to improve the disclosure mechanism of the third-party funding agreement in international investment arbitration.Firstly,make clear the content in funding agreement that needs to be disclosed voluntarily by the funded party;Secondly,for terms that do not belong to the content of disclosure voluntarily,there should establish a limited disclosure system to clarify the conditions and order of disclosure.Finally,improving the mechanism of balance the right and responsibility.The purpose of requiring the funded party to disclose the third-party funding is to maintain the legitimacy of international investment arbitration and protect the rights of the host country.However,the influence of disclosure should also be appropriately limited to protect the right of investors to seek justice.The possible innovation of this paper is to study how to limit the adverse effects of third-party financing in international investment arbitration by taking the disclosure scope of third-party funding agreements as research object.I try to give some advice for these issues,through comparing the analysis and award of different arbitral tribunals on similar issues in arbitration,and discussing the attitude of various arbitration organizations towards the disclosure of third-party funding.