Dubai: Abu Dhabi’s financial hub, ADGM, will now provide a platform for full dispute settlements done online. Those involved in the dispute – whether they be anywhere in the world – can use the ODR@ADGM portal launched by the ADGM Arbitration Centre.
Steps involved on the portal
The parties to the dispute will be guided through a series of questions that lead to the ‘tailoring of a settlement offer’ to the other party.
An invitation is then sent to the other party to join the platform and thus engage in the negotiation.
Once both are registered, the online negotiation commences, with ‘flexible deadlines’ available depending on needs and requirements.
If an offer is accepted, a template settlement agreement is available via the platform. Or, the contending parties can create an own settlement agreement with the assistance of their legal representatives.
"This new platform allows us to continue our mission of expanding the reach of mediation as a preferred form of dispute resolution," said Linda Fitz-Alan, Registrar and Chief Executive - ADGM Courts. "ODR@ADGM is an accessible tool for parties to remain in control of the resolution of their dispute, with accessibility, speed and autonomy as key principles of the platform."
ADGM is once again proving that there is a myriad of ways to shift the paradigm of dispute resolution
What if a settlement is not reached?
The parties involved have the option to access a mediator, which 'continues to allow them to stay in control of the outcome of the dispute'.
The mediator will then assist them to bridge the gap in the settlement discussions and reach a compromise solution. All of which translates into 'savings in time and cost to parties of having such a fully digitalised platform to resolve their disputes in easy reach'. the ADGM statement added.
Incidentally, ADGM also provides for 'Mediation in the Metaverse' services, while ADM Courts have a blockchain-based solution for the global enforcement of commercial judgments.
