Why Choose ODR over Litigation to Resolve Your Dispute
May 31, 2022
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What is ODR (Online Dispute Resolution)?
Online Dispute Resolution (ODR) allows parties to resolve their dispute virtually or over the phone without attending in-person courts. Such conflicts are resolved through various online tools with qualified arbitrators and mediators using real-time conference room software over a secure internet connection.
Using real-time conference room technology eliminates the cost and travel expenses, allows quicker communication, and gives the parties more flexibility in scheduling. Advanced technology can help parties reach a more efficient resolution faster.
ODR vs Litigation
Litigation is a formal, public process that resolves disputes with a judge and possibly a jury through a court. Arbitration is a private process where all parties work with a neutral third party to hear both sides and allow the arbitrator to make a final and legally binding decision. Mediation is a negotiation facilitated by a neutral third party. The mediator does not impose a binding decision but helps the parties reach an agreeable resolution. Mediation is helpful to help parties find common ground. At the same time, arbitration can be used as an alternative to litigation when the parties cannot resolve their dispute, on their own or through mediation, and need a third party to find a solution.
Advantages of Online Dispute Resolution
Quicker resolution
One of the advantages of ODR is that resolution is fast. The court system is consistently overloaded, and it cannot carry a trial for every lawsuit that gets filed. As a result, it can sometimes take several years for a legal case to go to trial. At times, a settlement or arbitration award can be reached within weeks of filing an ODR claim.
Lowered Cost
The decrease in costs is a core advantage of online dispute resolution. Instead of engaging in costly and time-intensive litigation, ODR allows parties to minimize expenses in resolving their disputes in a shorter period of time.
More flexibility
The ODR process is less rigid. Unlike a trial date that can change because of the backlog, ODR can be scheduled at any time. This provides greater flexibility and helps speed up the resolution of the conflict.
Conclusion
Resolving disputes through technology is nothing new, but using technology to drive alternative dispute resolution is an exciting development with a significant, long-lasting change in the industry. Online dispute resolution is a valuable tool to help resolve disputes and provides many advantages over litigation. Contact Rapid Ruling to discuss how online arbitration can help your business.
