What are the benefits of virtual arbitration rooms?

Answered by

A Agarwalla & Co.

Published At July 11, 2024

Answer

Virtual arbitration rooms offer substantial benefits, particularly enhancing Arbitration in India. One of the most significant advantages is cost efficiency. Traditional arbitration involves high expenses related to travel, accommodations and logistics for parties, arbitrators and witnesses. Virtual arbitration eliminates these costs, making the process more affordable and accessible​​.

Flexibility and convenience in scheduling are other key benefits. Virtual platforms allow hearings to be conducted without the need for all participants to be physically present in one location, facilitating quicker dispute resolutions by simplifying schedule coordination​.

Additionally, virtual arbitration promotes inclusivity and accessibility, enabling participation from individuals who might otherwise be constrained by geographical, financial, or physical barriers. This inclusivity can lead to a more diverse range of participants and perspectives, enriching the arbitration process​​.

Furthermore, the use of digital tools in virtual arbitration enhances procedural efficiency. Advanced document management, evidence presentation and communication technologies streamline the process, contributing to a more organized and efficient arbitration experience​.

Overall, the adoption of virtual arbitration rooms brings substantial benefits, making Arbitration in India more efficient, cost-effective and accessible while also supporting environmental sustainability.