Third Party Funding in International Commercial Arbitration

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Ebrahimi Seyed Sadegh; Bolori Peyman; Solhchi Mohammad Ali

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

Journal Paper

Paper Information

Journal: Public Law Research Year:2022 | Volume:23 | Issue:73 Page(s): 71-105

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Information Journal Paper

Title

Third Party Funding in International Commercial Arbitration

Author(s)

Ebrahimi Seyed Sadegh | Bolori Peyman | Solhchi Mohammad Ali | Issue Writer Certificate

Keywords

Third Party Investment

International Commercial Arbitration

Disclosure

Cost Allocation

International Arbitration Tribunals

Abstract

International commercial arbitration imposes heavy costs to the parties involved. In this regard, one of the new phenomena in International Commercial Arbitration is "financing of court costs by a third party investor. There are several reasons for the emergence of a third party investor: 1- involved parties may not have the resources to pay for the costs of arbitration or they may be reluctant to use their funds to finance the litigation: 2. the uncertainty of receiving compensation as a result of paying the arbitration fees might encourage the parties to transfer this risk to a third party; 3. having its own advantages and disadvantages. Since the funder holds the power of the purse, TPF entails the risk of the control of the claim being transferred to the third party funder. We might ask whether International Arbitration Tribunals should examine the extent of the investor's influence in determining the allocation of costs or not. In addition, is it essential to disclose the third parties contracts confidential? Overall, it is concluded that those mentioned Tribunals should allocate and guarantee the arbitration cost and agree on disclosing of third parties fund contracts under urgent conditions by international arbitration tribunal.

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