The Third Party Funding Of International Commercial Arbitration And Its Enlightenment To China

In the field of international commercial arbitration,the Third-Party Funding has now become a hot spot.Australia is the first country to develop it.The United Kingdom and the United States are also the main force in the use of Third-Party Funding.Singapore and Hong Kong have passed legislation to regulate Third-Party Funding in 2017.The essence of third-party investors is investment.The target of investment is the arbitration party who cannot afford the cost.The behavior of investor is to help them to arbitrate,resolve disputes,and ultimately take the compensation part obtained by the parties as their own interests.Therefore,third-party funders value their own investment returns,but do not pay much attention to the substantive issues of arbitration itself.In international practice,Third-Party Funding has been regulated in various aspects,such as the regulation that which subject to pay fees of arbitration,the regulation of the confidentiality of arbitration,and the regulation of relationship between third-party funders and arbitrators,etc.There is no legal provision for Third-Party Funding in China.But in order to enhance China's position in international commercial arbitration,author starts from studying the necessity and feasibility of Third-Party Funding in China,and finds that China has already fostered it.The environment has improved that China should introduce Third-Party Funding.The large amount of cases involving international commercial arbitration received by CIETAC has increased.Combining the theoretical knowledge and practical experience of Third-Party Funding in other countries and regions,this paper proposes that China should stipulate from three points: 1.Reasonably stipulate the fee;2.Strengthen the confidentiality of the arbitration in the capital contribution relationship;3.Increase mandatory disclosure of the arbitration relationship.