Want to know how virtual arbitration works? Need some practical tips on starting a remote arbitration process in Europe? Looking forward to knowing how you can benefit from resolving a dispute through virtual arbitration? You will find all the answers in our article.
How Does Virtual Arbitration Work?
Virtual arbitration is essentially a remote arbitration hearing. Depending on a specific type of case, its format may differ & include phone calls for simpler hearings & dispute resolution by videoconference for more complex ones.
Some arbitration institutions, such as the Chartered Institute of Arbitrators, have recently published their guidelines on conducting virtual arbitration hearings in Europe during the coronavirus pandemic. According to them, preparation for & attending any remote hearings should be preceded by several rounds of consultations.
Prior to the hearing, attorneys should inform arbitration tribunals on how an arbitration is going to be conducted. Procedure for initiating virtual arbitration proceedings should envisage provision of the necessary information, such as the time, online platform to be used & documents to be provided.
Also, preliminary testing of the videoconferencing equipment should be done. The participants should make sure that they hear each other well by staging an imitation of cross-examination of witnesses.
On the day of the hearing, each party will need to access a chosen online platform at the designated time. At the beginning of each hearing, the tribunal may request that each of the participants confirm their presence before proceeding to resolving a dispute through virtual arbitration.
Important Considerations to be Kept in Mind
- Resolving a dispute through remote arbitration requires ensuring that all parties have equal access to the technology used.
- Parties to a remote arbitration hearing should identify themselves.
- Resolving commercial claims through virtual arbitration involves making sure that each party has a technical capability to conduct a remote arbitration hearing with multiple parties.
- Prior to initiating virtual arbitration arbitrators should take into account the parties’ time zones.
- Before settling a dispute through arbitration, parties should agree on a person responsible for recording the proceedings (using video recording equipment or real-time transcription).
- During a preliminary hearing, parties should seek assistance from a person with sufficient technical knowledge of the technology used.
Remote Arbitration: Benefits
The elimination of travel costs has resulted in hearings being more cost-effective & time-efficient. Dispute resolution through an online hearing can be made even faster by making use of online platforms for document viewing or e-packages.
Virtual arbitration provides parties with a number of advantages, some of which include cost effectiveness & speedier resolution of disputes through virtual arbitration.
If you need more information on virtual arbitration or require an individual consultation on the settlement of international disputes through remote arbitration, you’re more than welcome to contact IQ Decision UK. Our legal advisors will be happy to lend you a helping hand with any legal issues you’re facing.in this regard.