You describe a dispute using our automated form.''
You give the other party details and email.''
Our system notifies the other party that you invited it to a mediation process. The amount at dispute cannot be less than USD 100.''
Both parties provide the amount they would like to start negotiations from. These amounts would serve as negotiation range. For example, if one party is ready to pay USD 100, but the other party claims USD 200, the range would be between USD 100 (minimum''
Each party pays a fee of 2,5% from the range to GEDR.''
*Both parties will see suggestion grid that will help them make bids. Each party will be able to make visible and secret bids. Visible bid is the amount the party wants to openly show to the other. While secret bid is the amount they secretly consider to be acceptable.
During each round of negotiations the party use suggestion grid to move their bids until they make their final offer. If the parties reach an overlap, the system will calculate the amount of the overlap and split it in the middle. If there is a gap between the final offers, the system will divide the amount of the gap and slip it in the middle suggesting to the parties to go an extra step to reach an agreement.
Using our example of a dispute between USD 100 and USD 200:
Let’s say that one party offers USD 150 and another USD 160 as a final bid. The system would then propose both parties to accept USD 155.
Closing the deal
The parties have reached an agreement - they made visible bid for the same amount. In this case exactly that amount would be considered as agreed.
The visible bid of one party overlaps with the secret bid of another party. In this case the party that made visible bid would be informed that the other party accepts this bid, and again exactly this amount would be considered as agreed.
After the final bid there is no overlap - in this case the system would calculate the amount of gap between the final bids and split it in the middle - and then asks the parties if they want to accept this fair amount.
The system automatically settles the case if one of (or both) parties are not active during 30 days. In this case the system works as in Scenario 3.
You can have as many iterations as you want. And any user can declare a final session.
What if we do not agree? If the parties fail to reach an agreement, they will be presented with 3 options:
Involving a human mediator
In this situation the system will appoint a human mediator who will review information about the case and bids made by the parties and make a fair conclusion. It would require extra fee from the parties.
If the parties fail to negotiate they can always try arbitration that might allow them to win the case in their favor.
Close the case
If the parties do not believe they can find a common ground, they might choose to close the case. In this situation the case is closed for both parties.
When parties reach an agreement, a contract is presented to both of them, which would need to be e-signed.