Research On Legal Issues Of Third-Party Funding In International Arbitration

International arbitration,with its advantages of convenience,speed,confidentiality,and finalization of awards,has made more and more dispute parties willing to choose it to settle their disputes.With the deepening of economic globalization and the development of international trades,the number of international commercial cases has increased,and the costs of international arbitration have become more and more higher than before,which has brought a heavy economic burden to the parties.Therefore,some parties are eager to seek third-party funding to help them to arbitrate for reasons of economy and efficiency.At the same time,third-party funders also extend the field of investment to international arbitration in order to pursue profits.Third-party funding began to enter the field of international arbitration and gradually developed into a financing industry.The emergence of third-party funding broke the closure of international arbitration and triggered a series of problems.Not only makes the conflicts of interests of the parties in the arbitration,during the third-party funder's continuous control of the arbitration process,it also undermines the confidentiality of the arbitration,and even triggers the risk of abuse of high profits.Based on the international arbitration procedure,this paper uses arbitration theories and arbitration laws,combined with the arbitration rules of well-known arbitration institutions and classic arbitration cases,to comprehensively and systematically analyze the application of third-party funding in international arbitration.The full text is divided into four parts.The first chapter introduces the concept and characteristics of third-party funding,and analyzes similar concepts.It also summarizes the historical development of third-party funding.The second chapter focuses on the analysis the adverse effects of third-party funding for international arbitration,and try to find the cause of the problem,summing up the legal issues.The third chapter in order to deal with the challenges brought by third-party funding and gives regulatory recommendations,which are combined with the arbitration rules of the well-known arbitration institutions and related important legal documents and through the analysis of classic cases.The fourth chapter analyzes the practice and development of third-party funding in China arbitration,and put a forward proposal that China should actively introduce third-party funding,and draw on international experience to contribute to the settlement of the “One Belt,One Road” disputes.