This chapter delineates the ethical issues arising out of third-party funding in international arbitration. It discusses the impact of third-party funders on the independence or impartiality of the arbitrator due to potential financial, business, professional or personal relationships with the arbitrator. Moreover, this chapter has addressed the influence of the involvement of a funder in a lawyer-client relationship on the lawyer’s fulfilment of his or her professional duties, such as independence, loyalty, integrity and confidentiality. Furthermore, the lawyer’s confidentiality is also related to whether confidential information shared by funded clients and lawyers with funders can be protected from evidentiary disclosure by privilege, which is also noted in this chapter.