Research On Third-party Funding In International Commercial Arbitratio

With the diversified development of dispute resolution methods and the increase in costs,the third-party funding system has emerged and developed rapidly in the field of international commercial arbitration.The third-party funding system has alleviated the financial pressure of arbitration parties,reduced arbitration risks,and stimulated the activity of capital,which has a certain positive significance.However,corresponding issues have also arisen.Previous studies have focused more on whether to grant third-party funding legal status,the overview of third-party funding systems,and whether third-party funding systems should be introduced into China.However,there has been less research on regulatory mechanisms for these issues.In the current context of increasingly perfect practices and legal norms for third-party funding,we should focus on the regulatory mechanism for third-party funded arbitration,while focusing on the development path of third-party funded arbitration in China.This article takes international commercial arbitration as the background,analyzes the impact of third-party funding intervention in the arbitration process on the original process,and summarizes the issues that need to be regulated due to third-party funding intervention.By investigating the regulatory models of other countries and regions outside the region,summarizing and drawing on experience,it explores the development path of third-party funding that is suitable for China.This article mainly analyzes third-party funded arbitration through five chapters:The first chapter is an introduction,which describes the purpose and significance of the topic,the status quo of domestic and foreign academic research on third-party funded arbitration,the research methods used,and the innovation points of this article.The second chapter mainly analyzes the meaning of third-party funding and its legal status in arbitration,summarizes four issues that arise after third-party funding is involved in arbitration proceedings,including unclear effectiveness of the funding agreement,complex conflicts of interest,unclear cost sharing,and threats to arbitration confidentiality,and analyzes each specific issue in detail.The third chapter explains the reasons and objectives of regulating third-party assistance through analyzing the legal basis and value orientation of third-party assistance arbitration.Chapter 4 focuses on the four issues summarized in Chapter 2,referring to the experience and practices of typical countries and regions with mature third-party funding regulations such as Singapore,Chinese Hong Kong,the United Kingdom,Australia,and the United States,and studying them from the perspectives of regulatory subjects,principles,and means.The fifth chapter explores the localization development path of third-party funded arbitration in China through the theoretical and practical research on third-party funded arbitration in the previous four chapters.It adopts a hierarchical and multidimensional regulatory path for third-party funding,and constructs China’s third-party funding system in terms of clarifying the regulatory body and effectiveness of the funding agreement,improving information disclosure and confidentiality rules,and reasonably determining the allocation of arbitration costs.