Concept Online Dispute Resolution in India
Globalization has been a great stimulation in the process of integration of economies and societies of different countries across the globe. It has been a great tool for breaking economic barrier and envisioning world as a market for trade. In the modern techniques of dispute resolution of commercial conflicts, emphasis has drifted from litigation to arbitration. As things are never static, emphasis is further sliding from arbitration to alternate dispute resolution procedures. Online dispute resolution in India is an important part of Legal Enablement of ICT Systems in India and Legal Framework for Information Society in India. Online dispute resolution (ODR) in India is in its infancy stage and it is gaining prominence day by day. With the enactment of Information Technology Act, 2000 in India, e-commerce and e-governance have been given a formal and legal recognition in India. Even the traditional arbitration law of India has been reformulated and now India has Arbitration and Conciliation Act, 1996 in place that is satisfying the harmonised standards of UNCITRAL Model. Even the Code of Civil Procedure, 1908 has been amended and section 89 has been introduced to provide methods of alternative dispute resolution (ADR) in India. The aim of this paper is to analyse the prospective use of online dispute resolution in India. The necessity of the same has arisen due to the growing use of alternative dispute resolving mechanism in India it will reduce the burdening of the already overburdened Courts in India.
The Third Party and Beyond: An Analysis of the Different Parties, in Particular the Fifth, Involved in Online Dispute Resolution
In a society that virtualises, with most of the current youth being online substantial parts of the day, to say that in the not so far future ODR will handle a large part of the disputes is not a daring prophecy. The relations between the various parties involved in ODR are more diverse and complicated than offline, both practically and legally. This article provides an analysis that stretches further than the two disputing parties and the Third Party. Several scenarios of the relationships between the various parties are analysed. One party is not human, the Fourth Party, commonly used to denote technology. In this paper it is argued that the concept of a Fifth Party as the provider of the technology is needed to understand all possible legal and practical relations.
Complexity, Network-Decisions And Alternative Risk Premia: Some New Theories Of Structural Change And Portfolio Decisions.
Structural Change is the basis for many decisions such as government fiscal and monetary policies, government interventions, corporate-expenditure decisions, corporate strategic decisions, portfolio management decisions in finance; household allocation decisions, etc.. Structural change in industries and national economies is increasingly more difficult to detect partly because of the growth and dominance of Complex Systems and “Networks” in modern industries and economies – such Networks and Complex Systems include GVCs (global value chains), retail store networks; franchising networks; internet networks; services networks; credit-chains in industries; online social networks; etc.. The relationship between Complexity and Structural Change is well established in the physics, applied math and economic dynamics literatures. Traditional definitions and modeling of structural change have erroneously focused on changes in labor, technological progress, market share, and or capital – which are grossly inadequate in the new economy and post- global financial crisis (as confirmed by changes in the global retailing and housing industries and other industries). Also the modeling of structural change seems to be constrained by the availability of data, and often omits the relationship between structural change on one hand, and globalization, financial stability and international financial contagion. This article: i) introduces the Operations Strategy Model of structural change, explains how it differs from the Lewis Model of Structural Change; and explains the often omitted relationship between operations strategy (of companies and government agencies) and structural change; ii) introduces other new Complexity-based models/theories of Structural Change in industries; iii) reviews the relationships among Operations Research, Complexity and Structural Change; iv) explains the symbiotic relationship between structural change on one hand, and economic growth, financial stability, financial contagion and globalization; v) discusses the significant gap between academic research and practice and explains some issues and factors that should be considered in the development and testing of structural change models; vi) explains how alternative risk premia can be generated from new models of Structural Change.