ARCHIVES
VOL. 10, ISSUE 5 (2024)
The evolution of arbitration: How technology is revolutionizing dispute resolution
Authors
Abubakar Sadiq Usman Esq
Abstract
Arbitration has undergone a revolution thanks to the integration of
Legal Technology, which has improved efficiency with tools like virtual
hearings, case management software, and electronic filing systems. This shift
was sped up by the COVID-19 epidemic, which made companies adjust to working
remotely and going digital. This has caused a change in emphasis towards the
potential of technology to transform the arbitration process, providing ease,
cost-effectiveness, and time efficiency while resolving issues with data
protection, cybersecurity, and the legal recognition of e-arbitration
agreements. This essay examines the development of arbitration by providing a
historical synopsis, outlining the significance of early arbitration in Nigeria
and globally, and then analysing the contemporary legal frameworks that
facilitate online arbitration. It emphasizes Nigeria’s Arbitration and
Mediation Act (AMA) 2023, which provides a comprehensive structure for online
arbitration and aligns with global standards. Additionally, the role of
international conventions like the New York Convention and the UNCITRAL Model
Law in the recognition of digital arbitration agreements is examined. With the
rise of Online Dispute Resolution (ODR), the arbitration landscape is rapidly
evolving, providing parties the ability to resolve disputes across borders
without physical presence. The paper highlights the advantages of online
arbitration, such as neutrality, reduced costs, enhanced accessibility, and
environmental benefits, alongside the challenges posed by cybersecurity
concerns and the need for consistent legal updates to accommodate digital
technologies. While Nigeria has made significant strides, including legislative
reforms, the study acknowledges the need for continued advancements to address
gaps in internet infrastructure and legal frameworks. Ultimately, online
arbitration presents a viable, flexible, and efficient alternative to
traditional dispute resolution methods in the digital age.
Download
Pages:129-135
How to cite this article:
Abubakar Sadiq Usman Esq "The evolution of arbitration: How technology is revolutionizing dispute resolution". International Journal of Law, Vol 10, Issue 5, 2024, Pages 129-135
Download Author Certificate
Please enter the email address corresponding to this article submission to download your certificate.