Bespoke Dispute Resolution
>- Dispute resolution is a critical part of a transaction platform and the core of the legal function. It is the equivalent of error handling. A good dispute resolution solution makes things upstream work better.
- It's core function is to apply human judgment to a situation that was unanticipated.
- To be effective, a dispute resolution system must be able to get to a decision on the merits rapidly and cheaply. It should be alert to manipulation.
- If parties can plan efficiently and there is a mechanism for aggregating experience, then the dispute resolution process can be shaped by experience, following and forking at the planning layer.
- Disputes can be reduced in number and difficulty of resolution by:
- Clarifying the deal that the parties have agreed (layer one);
- Promptness of declaring the difficulty; and
- Evidence that is immediately available and relatively uncluttered.
>
>