Launch: Guideline on Third-Party Funding
Ciarb is pleased to announce the launch of its much-anticipated Guideline on Third-Party Funding.
As the use of third-party funding in arbitration rises, practitioners are interested in developing their knowledge of the funding process. The Guideline on Third-Party Funding is a comprehensive tool for alternative dispute resolution (ADR) practitioners that provides much needed transparency over the third-party funding process.
Ciarb’s Policy team worked with the Professional Practice Guideline Drafting Committee and a group of other funding experts from around the world to produce this Guideline with the overarching aim to demystify the third-party funding process.
The Guideline was drafted by Mercy McBrayer FCIArb and Mohamed Sadiq ACIArb.
The Professional Practice Guideline Drafting Committee are:
- Dana MacGrath FCIArb
- Napoleao Casado Filho FCIArb
- Kathryn Sanger
- Philippa Charles FCIArb (Co-Chair)
- Dr Hasan Tahsin Azizagaoglu (Co-Chair)
- Susan Dunn
- Camilla Godman FCIArb
- Viren Mascarenhas FCIArb
- Sarah Vasani FCIArb
- Ayse Yazir
- Julian Chamberlayne
- Christopher Bloch
Dr Hasan Tahsin Azizagaoglu, Co-Chair of the Guideline said: “The Third-Party Funding Guideline offers a clear and accessible roadmap for legal practitioners - regardless of their level of experience - to navigate the complexities of third-party funding. This Guideline is unique in its commitment to full transparency, detailing the relevant questions to ask funders, explaining how they make decisions, and shedding light on how funding arrangements evolve behind the scenes. We welcome and value feedback from all practitioners, recognising that individual experiences and preferences regarding litigation funders can differ widely.”
Philippa Charles FCIArb, Co-Chair of the Guideline said: “We want the Guideline to provide participants in arbitration cases, whether seeking funding, or dealing with a funded party, with information and insight about the process of funding and how a case involving a funded party may evolve. While the Drafting Committee contains representation from practitioners and funders, we are keen to ensure that a multiplicity of viewpoints on these matters is contained in the Guideline to make it as useful as possible.”
Mercy McBrayer FCIArb, Head of Arbitration Professional Practice at Ciarb said: “Over the past decade, third-party funding has become an integrated aspect of the arbitration ecosystem. Ciarb's sense is that practitioners are seeking guidance on best practices when parties wish to leverage it as a tool to facilitate dispute resolution. We hope this Guideline raises awareness of the various considerations that need to be made when parties choose to use third-party funding in an arbitration and provides a starting point for decision making. This Guideline is the product of a significant amount of work by a diverse and highly knowledgeable Drafting Committee, and we are incredibly grateful for their dedication to this project. We are confident that it will assist parties and arbitrators in incorporating third-party funding into effective and legitimate dispute resolution."
