The role of alternative dispute resolution (ADR) scheme in the settlement of disputes within commercial transactions

Research Paper (postgraduate) from the year 2003 in the subject Business economics - Law, , language: English, abstract: Society's desire for easier and quicker access to justice has led to the development of Alternative Dispute Resolution (ADR). 'Alternatives' to litigation, such as arbitration, mediation and banking ombudsman are examined as to their efficiency and capabilities in the settlement of (international) commercial disputes. It is concluded whether litigation can be replaced by ADR in case where commercial disputes arise. Also, there is discussion about the emergence of Online Dispute Resolution (ODR).