Research On The Disclosure Rules Of Third-party Funding In International Investment Arbitration

In recent years,the rapid development of Third-Party Funding for this emerging investment method has also received more and more attention in the field of international arbitration.It plays an active role in investment arbitration and has received extensive attention.At the same time,it also has many drawbacks.Among them,the issues of interest and disclosure obligations are of great concern.The disclosure of Third-Party Funding information is an extremely important requirement for regulating the behavior of Third-Party Funding,which is of great significance for ensuring the fairness of arbitration procedures and improving the transparency of procedures.If it is not disclosed,the impartiality of the arbitration procedure will be questioned,and the effectiveness of the arbitration award will also be affected.However,the existing disclosure rules are imperfect and lack a unified solution and supervision model.Therefore,after analyzing the existing rules and practices,this article believes that China should adopt a combination of national legislation and amended arbitration rules,supplemented by the industry self-regulation rules model,the law determines the legal obligations disclosed by relevant subjects,and the Disclosure entities make specific arrangements for disclosing funding agreements and use industry self-regulation rules to constrain Third-Party Funding agencies.This article is mainly divided into the following five parts:The first part discusses the Third-Party Funding and information disclosure in international investment arbitration.Firstly,it will give a general discussion on Third-Party Funding,analyze the concept of Third-Party Funding,explain the role of Third-Party Funding in the pursuit of fairness and justice,and the existing disadvantages.The feasibility of tripartite funding information disclosure in China.After analyzing the impact of third-party funders’ profit-seeking attributes on arbitration results,preventing potential conflicts of interest,reducing abuses,maintaining the transparency of the host country’s interests and arbitration procedures,and sharing costs and guaranteeing costs The need for disclosure.Finally,it was concluded that in order to regulate the funding behavior of third parties and ensure the fairness of the arbitration procedure,the funding relationship and related information should be disclosed.The second part discusses the existing Third-Party Funding information disclosure rules from the perspective of the subject.This section discusses the existing rules for the disclosure of Third-Party Funding information in international investment arbitration and provides a practical basis for the creation of a disclosure mechanism.The research subjects are the International Bar Association(IBA)"Guidelines for Conflicts of Interest in International Arbitration";the International Chamber of Commerce Arbitration Institute(ICC)"Arbitrators Conflict Disclosure Guidelines",Singapore International Arbitration Institute(SIAC)"International Investment Arbitration Rules".Singapore,the United Kingdom,the United States,and China are the representatives of national regulations,and elaborate on their existing legislative rules and other regions’ attitudes towards disclosure of Third-Party Funding.The third part points out the common problems in the existing rules.There are still imperfections in Third-Party Funding disclosure rules.This section aims to find common problems in the existing rules of Third-Party Funding disclosure,which are mainly reflected in rigid definitions,ambiguity of effectiveness,and single disclosure subject.And five aspects of the scope of disclosure.The fourth part,on the basis of drawing on existing rules,improves the rules for Third-Party Funding disclosure in international investment arbitration,and proposes solutions to the above problems.First,define the definition of Third-Party Funding,adopt a broader understanding that is more in line with practical development,and prevent arbitration uncertainty;second,clarify the mandatory nature of information disclosure obligations and avoid potential conflicts of interest;finally,focus on analysis The scope of the subject of disclosure responsibility,elaborating the disclosure obligation from the perspective of expanding the disclosure subject,and making relevant suggestions on the disclosure obligations and undisclosed consequences of the arbitrators,the review obligations of the arbitral tribunal,and the disclosure obligations of the funded person,of which The disclosure obligation of the grantee is the focus of this section.The fifth part discusses the improvement of China’s investment arbitration rules.Based on the current situation and future development goals of the investment arbitration field facing China,the Third-Party Funding is improved from three perspectives: national legislation,arbitration rules and industry self-regulation rules The disclosure rules make recommendations,timely adjust the arbitration law or arbitration rules accordingly,and seek the optimal path for Third-Party Funding to develop in China.