The Online System developed by the Arbitration Center at the Institute of Modern Arbitration won the first prize at Skolkovo LegalTech Leader. The Online System prevailed over 75 projects aimed at automatization of legal services, which were introduced by law firms and legal departments of huge corporations.
The use of the Arbitration Center’s Online System reduces the time spent on administration of arbitration by 40% without employment of any additional resources. The Online System automatizes most of the technical tasks, which was a decisive factor taken into account by the competition jury while determining the winner.
The Online System of the Arbitration Center allows parties to commence arbitration in a few clicks, follow the course of an arbitration online, work with documents in a case file, calculate fees and monitor the amount of arbitration costs.
For an arbitral institution, the System is beneficial as it accumulates all information related to all pending and terminated arbitrations. The System also allows administrative staff to contact disputing parties and arbitrators as quickly as possible. Moreover, the Online System secures high standards of confidentiality in arbitration.
Leading arbitral institutions have no comparable system designed to administer arbitration. Using advanced technologies is particularly important given the size of Russia and the aim of increasing its attractiveness in the eyes of investors.
The Arbitration Center at the Institute of Modern Arbitration intends to continue developing the Online System. The nearest steps are the following:
The conference Skolkovo LegalTech devoted to modern technologies in the field of legal services took place on December 1, 2017.
More information about Skolkovo LegalTech Leader can be found here.