Abstract
In the context of increasingly complex international commercial disputes and diversified demands for dispute settlement, the development of third-party funding is irresistible. The third-party funding model while providing investment opportunities for the funders and sharing the economic burden and arbitration risks for the parties to disputes, makes up for the lack of a legal aid system in the arbitration field which indirectly improves the quality of arbitration trials, thus promoting the better development of arbitration as a dispute settlement method. However, the ensuing conflicts of interest, the confidentiality of cases, enforcement, and other risks also pose significant challenges to arbitration practice. It is, therefore, necessary to establish sound regulatory mechanisms to protect the development of third-party funding models. In this paper, the risks faced by the model in practice are analyzed, and the relevant factors hindering the better development of the model are clarified. On this basis, the interests of all subjects are taken into account, the process of each stage is regulated in detail, and the "regulation" of third-party funding is overall structured.
Keyword(s)
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