With its two main features Deal Making and Online Dispute Resolution, eBRAM is developing an online dispute resolution (ODR) platform to provide a one-stop-shop platform for commercial parties from all around the world.
Through eBRAM online deal-making platform, parties from different locations can efficiently negotiate a deal by conducting meetings, sharing documents such as offers, contract drafts, to conclude their agreement digitally.
Online Dispute Resolution
In a case of dispute, parties can commence Online Dispute Resolution (ODR) proceedings through the eBRAM platform. ODR is a branch of dispute resolution which uses technology to facilitate the resolution of disputes between parties. Parties can opt for an online negotiation, e-mediation or e-arbitration, or a combination of all three. ODR is the online equivalent of alternative dispute resolution.
Parties to a dispute may commence an e-mediation, with meetings being conducted virtually through the platform where the mediator can communicate separately with each party or simultaneously with both parties.
e-Arbitration can be defined as arbitration in which all aspects of the proceedings are conducted online. Most e-arbitrations require parties to upload the submissions and evidential documents to the tribunal and to respond to questions from the arbitrator. On the contrary, hearings of e-Arbitrations administered by eBRAM are also conducted through video conferencing in a secure environment. Participating parties will receive a final, binding, and enforceable award from the arbitrator in the end via the eBRAM platform.
Key Advantages of Deal-Making and ODR by eBRAM
- Easy Share of Documents: Documents can be conveniently exchanged among parties and submitted to the tribunal.
- Ensured Authenticity: All documents are time-stamped with the platform to store and retrieve information and agreements.
- Real-Time Language Translation: Real-time translation allows parties to communicate without language barriers.
- Enhanced Cybersecurity: All communications, documents, and case information are secured with enhanced cybersecurity.
- Time and Cost Efficiency: Online procedures minimise transportation costs and expedite the proceedings.