Research On Third-party Funding In International Commercial Arbitration

The development of third-party funding in some developed countries has gradually matured,relevant theoretical study and legal practices have also formed a certain scale.The practice of third-party funding originated from bankruptcy cases,in the early days,third-party funders funded bankrupt companies to help them recover due payments,and obtained the income about a certain percentage of the recovered payments from the bankrupt enterprise.With the rise and rapid development of third-party funding in international commercial arbitration,the third-party funder's involvement in the arbitration process triggered a discussion of a series of issues in the academic circle.In view of the fact that there are many differences between the arbitration system and the litigation system,their theoretical and practical issues are also unique.This article mainly discusses the issues and corresponding solutions of the third-party funding in international commercial arbitration,and try to outline the regulatory path for the localization of third-party funding in China.This essay is divided into four chapters: the first chapter discusses the concept of a third-party funding and its similar system,and the value orientation of the system.Since the third-party funding system is relatively new,the academic community does not have a consistent definition about the concept for third-party funding,so it is necessary to discuss this.The second chapter is the key part,which mainly discusses the problems arising from the application of the third-party funding in the field of international commercial arbitration and its corresponding solutions.This part is problemoriented and it focuses on throwing shallow views for further discussion.The third chapter's ultimate goal is to propose the path and corresponding regulation of the localization of the thirdparty funding in China.Under the premise of objectively analyzing the market environment of the third-party funding,combined with the judicial environment,it provides preliminary insights into the regulation of the system.The fourth chapter will predict the possible development direction of the third-party funding system in the future based on the current development trend.But overall,the author is optimistic about the future of the third-party funding.It is foreseeable that the continuous development will complement other systems and will promote the further development of the arbitration system to a certain extent.