A Study On Third-party Funding In International Arbitration

In recent years,due to the increasing international commercial arbitration cases of large amounts,the cost of arbitration is also climbing.In order to alleviate the financial pressure of the parties involved in the arbitration proceedings,more and more parties to the international commercial arbitration cases have chosen to seek financial support from the third-party funding agencies,which is called "Third-party Funding in International Commercial Arbitration".This paper studies,besides the introduction part,the following five parts:The first part is "Overview of the Third Party Financial System in International Commercial Arbitration".This part studies the origin,development history and current situation of the system.The study shows that this system,which was originally used in the litigation proceedings,has become more and more frequent in the practice of international commercial arbitration in recent years.However,due to the existence of various disputes,there is only a few territories at present confirming the legitimacy of the system through legislative or judicial means.The second part is "the evaluation of third party funding system in international commercial arbitration".This section examines the positive significance of the third-party funding system and the main controversies arising from the system.The study shows that the third-party funding system in international commercial arbitration has a lot of controversy,such as new conflicts of interest between different subjects,the contradiction of disclosure and confidentiality and so on.The third part,"the regulation of third party funding in international jurisdictions," examines different means by different legal territories in order to regulate and supervise Third-party Financing during international commercial arbitration.The fourth part of the "Localization of the Third Party Financial System in International Commercial Arbitration" examines how China,as a thriving international commercial arbitration center,learn feasible regulatory experiences and to build a system with Chinese characteristics.The fifth part makes conclusion of the whole thesis.