Third-party Funding Research In International Commercial Arbitration

The third-party funding system has a profound historical origin,which can be traced back to the principle of "litigation assistance and contracting litigation" in common law countries in the early stage,that is,the third party who has no legal relationship with the case provides support to one party in the dispute case to start litigation or arbitration,and the sponsor ultimately obtains the compensation for winning the lawsuit.The trend of legalization of this system has experienced theoretical and practical debates and explorations from the initial recognition of infringement or crime to the support of public order.This paper analyzes the advantages and possible risks of the system from the origin and development of the third-party financing.Combined with the practical development of the system in different countries and regions,it tries to put forward a possible plan with Chinese localization for reference,which provides a new path for the rapid development of the field of international commercial arbitration in China.