Ejudicate is an online leader in providing impartial, cost-effective, flat fee, and quick, online dispute resolution services and we are ready to help businesses in times of economic downturn.
Settlement processes and dispute resolution, all online, done asynchronously and completed quickly, fairly and efficiently.
An economic downturn is on the horizon. Are your contracts ready? When times are good, most contracts collect dust at the bottom of a file cabinet rarely to see the light of day again.
But, when things take a turn for the worse, those contracts become your roadmap to enforcement, payment, and remedies.
Most businesses pay little attention to the enforcement terms when making a deal, which can be troubling when enforcement or dispute resolution becomes necessary.
With an economic downturn about to take hold, it’s time to update your contracts and make sure your cashflow and accounts receivable are protected.
All too often, businesses end up with contracts that are not fit for purpose. Lawyers and legal teams will often just copy and paste the contents of other contracts and quietly leave it at that.
Important issues such as venue, jurisdiction, choice of law, arbitration, collections are all dictated by the terms of your invoice or contract. Do you know what they say? Are they the best terms to maximize your rights to recovery?
There is also a way for you to take back control and know exactly what is going into your contracts.
Using Ejudicate’s online platform, you can download a template online arbitration clause and customise it to your specific needs.
It’s time to review your contracts and update them accordingly
Up until recently, there were very few options regarding arbitration.
There were two or three primary companies representing traditional, pay by the judge by the hour, arbitration.
This process could take anywhere from nine to eighteen months to resolve and could cost tens of thousands of dollars or more.
Today there is online arbitration with companies like Ejudicate, which provide a flat fee-based, 45-day turnaround (standard claim) for your disputes.
No more uncertainty about your case lingering for months and months, no more legal fees being thrown down a dark hole.
Ejudicate is predictable, giving you a pre-established flat rate for your dispute and it will issue a binding award in 90 days or less.
Ejudicate’s online platform makes things easy to prepare for an economic downturn
Ejudicate makes settling a matter as easy as a few clicks of your mouse.
Either party can set up their settlement position (or positions) on the platform and settle their dispute if the parties can reach an agreement.
Settlements can occur when a matter is initiated or even after an award is issued to avoid the need to have a formal judgment entered.
So, both plaintiffs and defendants are incentivised to reach a mutually agreeable solution through an easy-to-use settlement platform that is done asynchronously.
And, of course, if they don’t agree to settle, the parties can still dispute their claim with a qualified Ejudge who will make a fair, final and binding decision.
So how do I file for arbitration with Ejudicate?
The process is simple. If an arbitration clause is included in a contract, a plaintiff can file against a defendant online using Ejudicate’s dedicated platform.
Ejudicate is the online arbitration market leader. The platform is 100 percent online and is cheaper and quicker than traditional brick and mortar institutions.
It has revolutionized ODR by making it accessible to small businesses and operators.
Ejudicate turns around a typical arbitration claim in 45 days, compared to 410 days in traditional arbitration.
A straightforward claim will be 80 percent cheaper than traditional arbitration and will typically cost you less than $1,700.
With an arbitration agreement in place, you can get the money you are owed and put it back into your business, where it belongs.
Ejudicate makes it easy with its process involving six easy steps. All you need to do is upload your claim and any supporting documents and evidence, and the defendant will submit their counter-evidence.
If they do not do so within the stipulated time frame, they will find themselves in default, and an award will be made against them.
If they do contest the claim, an impartial EJudge is assigned to decide the claim, based on expertise and jurisdiction.
If they rule in your favor, and you prevail, a final and binding arbitration award is rendered.
This can be filed in a state courthouse to be reduced to an enforceable judgment. (Binding awards are issued if the agreement calls for a binding award.)
The entire process is managed on its proprietary online platform, from filing a claim to discovery and a final decision.
Where can I find Ejudicate’s sample standard Arbitration Clause
Ejudicate makes it easy with its clause builder platform. Of course, each contract and deal is different.
But essentially, dispute resolution clauses should have the following (or similar) text included: “The parties to this contract hereby agree to resolve legal disputes exclusively through binding arbitration”.
The above text means parties agree that arbitration will be a legally binding process that can be used if a dispute arises.
Ejudicate offers a free-to-use arbitration clause example that you can customize to suit your needs.
The arbitration clause sample comes in both long-form and short-form.
Including an arbitration clause or provision in your contracts ensures that you are serious about collecting unpaid debt and leaves no room for confusion.
Are you ready to recover what you are owed?
Ejudicate has helped small and large businesses across the United States recover debts that were simply not worth the cost of traditional litigation or arbitration if not for online dispute resolution.
Register now on our online portal. Submitting your claim is simple if a dispute arises, all for a flat upfront fee.
Satisfied and repeat participants include electronic commerce sites (Fintech), factors, banks, MCAs, and other lenders.
Ejudicate also handles all types of monetary disputes and declaratory relief actions such as quiet title, coverage claims and warranty claims.
Our screened network of Ejudges spreads across all 50 states, and each case is matched to the jurisdiction and subject matter expertise of the Ejudge.
Ejudicate is a market-leading online arbitration platform in the United States. Our 100 percent online alternative dispute resolution platform helps businesses protect their contracts and agreements through online arbitration. Follow us on LinkedIn or Facebook for updates and news about online arbitration and more.
*Ejudicate cannot and will not give legal advice on any matters, financial or not.