THE THIRD MAN IN INTERNATIONAL ARBITRATION: Analysis of the Issues & Challenges in Arbitration Funding

Abstract The last several years have witnessed a tremendous increase in the participation of thirdparty funders in international arbitration. The exponential growth rate in the participation of funders in a short time-span in international arbitration has given birth to several concernssome national and legal, and others international and ethical. The present note aims at analysing the issues and challenges that are being faced by commercial arbitration jurisdictions across the world. It addresses the reasons for such increased participation and discusses in detail the issues and concerns that have been raised by parties and the tribunals with the introduction of a third party and financial assistance into the arbitral process. Further, the note highlights and critically examines the regulatory framework and guidelines that have come into place in the recent past to address these concerns.