Are you a lender? Do you provide financing? Is your business owed money?
Do you have a borrower with an unpaid loan due but you want to incur the expense of a lawsuit?
These are just a few examples of situations where a business like yours may have tried to seek recovery, but the cost and the amount of time required to hire a lawyer and pursue your debtor was just too much.
Litigation is expensive and it takes a long time, particularly since the court system is overburdened and underfunded. Even traditional arbitration, while slightly more affordable, still requires you to pay for a private judge or arbitrator as well as a lawyer, and you are at the mercy of each of their respective schedules.
It can take years and cost tens of thousands if not hundreds of thousands of dollars.
But Now There is Hope
Enter ODR, or online dispute resolution. New ODR systems allow you, for a simple flat fee, enter your dispute online (such as with thinkbrief.com) and present your evidence from the comfort of your tablet or computer.
No hearings. No lawyers (unless you think one is necessary). No hidden costs.
And you can see resolutions in as little as 30 to 45 days. It’s a world away from litigation and in-person arbitration and yet impartially and fairly resolves your dispute.
It’s important to note that not every dispute can be processed through ODR, but disputes like those related to unpaid debt and defaulted loans, which depend mostly on documents, evidence, and written testimony, are ideal for ODR. It’s as simple as uploading these supporting materials online through an ODR portal.
ODR allows each side to present its best arguments and evidence to a neutral Ejudge. That Ejudge, barring any additional questions that he or she may have, will decide who prevails in the dispute. Once that decision is made, the Ejudge will prepare a written award that sets forth his or her decision and how much money is owed and by whom.
That award can then be negotiated into a settlement or resolution or, if the losing party has no appetite to resolve that dispute, it can be turned into a judgment by the proper court and, thus, be enforceable against that losing party as a court judgment.
The ODR process, because it is Document Centric Arbitration (or DCA), is quick, cost-effective, and precise in resolving financial disputes online.
Utilizing today’s available technology or, like Brief has, inventing new technologies, ODR is safe and secure, and is confidential and easy to use.
Why hassle with time-consuming and costly litigation when there’s a simple and affordable option available at the click of a button?