Research On The Issue Of Third-Party Funding In CIETAC Investment Arbitration Rule

The rise of third party funded arbitration not only was a positive effect on the international investment arbitration system,but also many challenges and issues.For instance,conflicts caused by disclosure、confidentiality affected and guarantee issues for arbitration costs.Addressing these issues has become a difficult task in the current development of international arbitration system.In recent years,many countries and regions have legalized the funding of third party arbitration and major international arbitration institutions have responded with arbitration rules.In "Investment Arbitration Rules" issued by CIETAC in 2017 and responded to a question from a third-party financing however the rules on third-party financing is relatively simple,great and uncertain regulatory provisions are missing.The usability is still possible.Practical either in part or as an academic,the regulations on third-party financing in this regulation need to be improved in many areas.Hence,based on a full understanding of third-party financing,it is necessary to analyze and study how to improve the provisions on third-party financing in the Investment Arbitration Rules of the CIETAC.This article starts with Article 27 of the "CIETAC Investment Arbitration Regulations",analyzes the third-party financing regulations,puts forward the deficiencies of the regulations,and describes how to solve and improve the problems raised.In addition to the introduction and conclusions,this article has three parts:Chapter 1 outlines third-party financing.In this chapter,this article first analyzes the concept of third-party financing from a broad and narrow perspective,and briefly introduces the development history and current situation of third-party financing arbitration.Next,we analyze the importance of regulating third-party financing from different perspectives.They are to ensure the independence and impartiality of arbitrators,prevent damage to the interests of the host country,and promote the development of my country’s arbitration market.The second chapter analyzes the provisions and existing problems of third-party financing in the "CIETAC Investment Arbitration Rules".First of all,in this article,we will explain the main content of third-party financing in the "Investment Arbitration Rules",and explain the definition,disclosure method and detailed information of third-party financing.Secondly,it analyzes the deficiencies of this provision in combination with international investment arbitration and the arbitration rules of major arbitration institutions.Failure to clarify the types and exclusions of third-party funds,the general list of information,and the unclear relationship between arbitration fees and third-party funding agreements,etc.,will make it difficult to operate.Chapter 3 introduces how to improve the third-party financing rules in CIETAC’s Investment Arbitration Rules.This article has been analyzed in the previous article.I hope that it can learn from international experience and use existing rules as the basis to make the third-party financing clauses in the investment arbitration rules more specific and strict.We will address the issues raised above specific remedies.