The Third Party Funding relieves the financial difficulties of parties and sustains their funding currency. However, this Funding form brings a host of disturbances to international investment arbitration. As the result of confidentiality of arbitration and invisibility of funding, arbitration tribunals and the respondents are hard to find the existence of the third parties. Which are prone to lead to conflict of interest, also rise excessive litigation risk. These problems not only having an effect on the impartiality and independence of arbitration tribunals, but also impede settlement of investment disputes effectively. These problems not only having an effect on the impartiality and independence of arbitration tribunals, but also impede settlement of investment disputes effectively. Nowadays relative legations and laws are incomplete over the whole world, particularly lacking of hard law to regulate the third parties action so that the present situation is adverse to the healthy development of it. At last, the relevant legislation in mainland China is in a state of absence, and it is urgent to set up a localized disclosure system from the aspects of clarifying the content and time of disclosure, adjusting cost allocation, limiting the scope of information disclosure, and clarifying the mandatory disclosure obligations of beneficiaries from a legislative perspective.