How Joint Resolution Works
Step One: Cybersettle
When the stage is set and both parties have agreed to engage the on-line process,
the demanding party can initiate and tender a blind demand. The other party,
upon notification that a demand has been made, responds with an offer. If
the amounts overlap, the parties will be automatically advised a legally
binding resolution has been reached. Parties may make multiple attempts to
settle each dispute by lowering demands or raising offers in subsequent bidding
rounds.
If the parties are having difficulty resolving the dispute, a phone facilitator
can be accessed at no additional charge to help the parties optimize this approach
to settlement. Failing to settle on-line, however is not the
end of the process.
Step Two: Arbitration and/or Mediation
For those parties who do not settle on-line, JRL offers mediation or arbitration
services from individuals that have industry transaction experience.
Generally, parties to a dispute are best served by mediators or arbitrators
that have negotiated, written, priced or transacted reinsurance contracts.
The parties will be able to choose from a panel of experienced mediators and
arbitrators prequalified by JRL, the AAA and certified by ARIAS, U.S.
Both mediation and arbitration will be conducted under expedited procedures drafted
by JRL and the AAA. JRL has partnered with the AAA to provide
administration of the proceedings in a neutral forum.
Arbitration will be conducted by one arbitrator under an expedited procedure
allowing for limited discovery, shortened briefs, hearings only when necessary,
and a shortened time frame.
Parties opting to Mediate can do so directly from Cybersettle for a flat fee;
or, after filing for arbitration, at no additional administrative fee beyond
the initial payment for arbitration.