The Value of Electronic Arbitration in Today’s Legal System

Abstract

Electronic Arbitration (E-Arb) is a private method of resolving disputes with the assistance of a neutral and impartial arbitrator. This individual oversees the arbitration by listening to the arguments of both parties and issuing a binding decision. With the development of ICT, the popularity of online arbitration has increased, and it is currently employed by Internet-based enterprises as a more efficient and cost-effective alternative to traditional court proceedings and traditional arbitration. Electronic arbitration (E-Arb) is a method for resolving disputes using internet-based companies that offer arbitration services. As demonstrated in earlier chapters, E-Arb is intrinsically linked to the rise of e-commerce, cross-border, and transnational trade. The parties to such contracts and agreements anticipate a rapid, efficient, and cost-effective dispute resolution system. Electronic submission is possible for the request for arbitration, the proposal for the nomination of the arbitrator, the exchange of arguments between the parties, and the production of documents.