Author(s)

Jinlin Zhang ¹

Affiliation(s)

¹ Law School, Beijing Normal University, Beijing, China

Corresponding Author

Jinlin Zhang

ABSTRACT

There are various layers involved in the practice of third-party finance in international arbitration. In order to provide solid support for the growth of international arbitration, research on third-party funding in this context should be grounded in experience and then returned to practice. The opposing party to the arbitration, however, has become worried about the arbitration procedure and its own interests due to the extensive use of third-party funding, and has requested the arbitral tribunal to issue a security for costs in order to safeguard its legitimate interests. This article will explore, with case examples, how an arbitral tribunal should consider the relationship between third-party funding and the funded party's financial troubles, as well as under what degree of financial difficulties a security for costs should be issued.

KEYWORDS

International arbitration; Third-party funding; Security for costs; Financial difficulties

CITE THIS PAPER

Jinlin Zhang. The Impact of Third-Party Funding on the Security for Costs in International Arbitration: Approval Considerations in Financial Difficulties. Science of Law Journal (2024) Vol. 3: 151-159. DOI: http://dx.doi.org/DOI: 10.23977/law.2024.030720.

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