To adopt Presolv360’s online dispute resolution mechanism, we recommend that parties incorporate one of the following dispute resolution clauses in their contract:
Arbitration Clause
Arbitration is a dispute resolution mechanism wherein parties are bound by an award made by the arbitrator. Parties should opt for arbitration if they desire a decision by an independent adjudicator.
Mediation Clause
Mediation is a dispute resolution mechanism wherein parties mutually opt to settle the dispute facilitated by a mediator. Parties should opt for mediation if they desire a negotiated settlement.
Med-Arb Clause
Med-Arb is a process wherein a dispute is first referred to mediation, and if it is unsuccessful, the dispute is then finally settled by arbitration.
The dispute resolution clause should be inserted under the heading “Dispute Resolution” or under a similar section in the contract. Please ensure that there are no conflicting dispute resolution clauses under the heading “Dispute Resolution” or “Arbitration” or under a similar section in the contract. In case the contract is already executed, parties can still opt for Presolv360’s online dispute resolution mechanism by agreeing to one of the above mechanisms by an exchange of letters / emails.
The email address and mobile numbers provided by each party shall be one which is regularly accessed and which will be used to register on Presolv360’s platform to receive communications pertaining to a dispute that may arise.
Kindly ensure that the “Notice” clause in the contract enables parties to serve notices / communications by email, text message and tele-messaging applications such as WhatsApp.
For any queries, write to us at info@presolv360.com.