How it Works?
The working of ODR is determined by certain components – thoughtful technology, reengineered processes, asynchronous communication, and feedback loops. The mechanism can be rendered successful primarily by thoughtful technology, the key elements of which can be remote service, driven by data, AI, and integration with other services.
ODR aims to revolutionize and reengineer the process of dispute resolution by making the process more participative and autonomous in nature. The parties can make settlement offers and counter offers directly, choose a mediator or a conciliator online to facilitate dispute resolution and if the dispute is not settled, the parties can choose a different mode of resolution.
We, Jupiter Council for Arbitration and Mediation, provide a platform with a legal workflow, whereunder we aim to conduct online dispute resolution wherever necessary. Our core values lie in cost effective dispute resolution, maintenance of confidentiality, building relationship of trust on the foundation of security and privacy. We provide an array of resourcesranging from
thoughtful technology to empaneled lawyers. Our team of lawyers consider time to be of the essence and approach head on towards resolving disputesin an efficient manner which is of maximum fruition to our clients.
ARBITRATION – STANDARD OPERATING PROCEDURE
▪ The following clause is suggested to be included as the arbitration clause in the loan agreement between borrower and lender.
“Any and all controversy(ies) / dispute(s) / difference(s)/ claim(s) / claim(s) in tort arising out of or in connection with or in relation to this contract, including its existence, validity or termination, shall be referred to and finally resolved by arbitration of sole Arbitrator nominated by Jupiter Council for Arbitration and Mediation and Arbitration Rules of Jupiter Council for Arbitration and Mediation shall prevail.
It is further agreed that such arbitration shall be conducted in accordance with the expedited procedure set out in the Arbitration Rules of Jupiter Council for Arbitration and Mediation. The award so rendered shall be final and binding on the parties. The language shall be English.”
▪ A written communication conveying the intent of the party to resolve dispute/s by way of Arbitration.
▪ Once both the parties have agreed to subject the dispute to Arbitration, the sole arbitrator (also known as Arbitral Tribunal) may be appointed as per the terms of the loan agreement and reference u/s 21 of Arbitration and Conciliation is invoked.
▪ The Arbitrator is an impartial third party who is appointed to adjudicate on the disputes between the parties.
▪ The Arbitrator hears the preliminary round of arguments, statements and issues to the dispute.
▪ The parties exchange information and evidence in support of their arguments.
▪ The Arbitrator conducts secondary round of hearings before the parties make their final submissions.
▪ The Arbitrator then declares the decision which is called the Arbitral Award. Such award must be in writing, signed by the arbitrator or the panel of arbitrators, must state the reasons on which the award has been decided.
MEDIATION – STANDARD OPERATING PROCEDURE
▪ Mediation proceedings can be initiated by sending a Mediation reference and after receiving the consent from the borrower to go ahead with the Mediation, the Mediator intimates the date and time for virtual meeting.
▪ The Mediator acts as an impartial third party and works together with the parties to facilitate the dispute resolution mediation process.
▪ The Mediator tries to understand the views of the Borrower on the dispute and then makes an attempt to amicably settle the dispute for loan repayment/ recovery within a time bracket (15-30 days).
▪ Keeping in view of the facts and circumstances of the case, Mediator communicates the legal remedies (both Civil and Criminal) available to the parties and the consequences thereof, as per the applicable laws in force.
▪ The Mediator tries to analyze the Borrower’s plan of repayment and proposes changes that are mutually beneficial to the parties.
▪ The Mediator moves into secondary correspondence of negotiations with the parties to identify, summarize and resolve the issues depending on the facts and circumstances of the case.
▪ The Mediator will summarize the results of the correspondence with each party and encourage options for facilitation of negotiations.
▪ Once both the parties have agreed to the terms of amicable resolution of the dispute, such terms can be documented as settlement.
CONCILIATION – STANDARD OPERATING PROCEDURE
▪ Conciliation proceedings can be initiated by sending a written invitation to conciliate from one party to the other, and after receiving the consent from such party, the Conciliator intimates the date and time for virtual meeting.
▪ The Conciliation proceedings commence when the other party accepts the invitation to conciliate.
▪ The conciliator may request each party to submit to him a brief written statement. It maybe supplemented by appropriate documents.
▪ The Conciliator acts as an impartial third party and works together with the parties to facilitate the amicable dispute resolution process.
▪ The Conciliator tries to understand the views of the Borrower on the dispute and then endeavors to amicably settle the dispute for loan repayment/ recovery within a time bracket (approx. 15-30 days).
▪ Keeping in view of the facts and circumstances of the case, Conciliator communicates the legal remedies (both Civil and Criminal) available to the parties and the consequences thereof, as per the applicable laws in force.
▪ The Conciliator tries to analyze the Borrower’s plan of repayment and proposes changes that are mutually beneficial to the parties.
▪ The Conciliator will summarize the results of the correspondence with each party and encourage options for facilitation of negotiations.
▪ When it appears to the conciliator that there exist elements of a settlement likely to be accepted by the parties, he shall formulate the terms of a possible settlement and submit them to the parties for their observations. If the parties request, the conciliator draw up or assist the parties in drawing up the settlement agreements.