• Conflicteam
  • Online Dispute Resolution

About conflicteam

For the first time on the Internet – a system to resolve financial disputes online without intervention from another

For the first time on the Internet – a system to resolve financial disputes online without intervention from another person or entity. Conflicteam is a useful tool and interface for two parties who are entangled in a financial dispute or some other type of financial conflict. The purpose of Conflicteam is to bring the two disputing parties together to find an amicable solution while maintaining the individual interests of each party to the dispute using a unique mechanism for quick resolution –a tool that enables each party to submit a compromise proposal based on their own interests.

Quick resolution mechanism

The quick resolution mechanism is a unique tool based on algorithms that helps bring the two disputing parties to an amicable solution without the need to involve another person or another entity.

How it works ?

Once you’ve opened up a new file the Conflicteam system contacts the other party and invites them to the Conflicteam site. After reviewing the file details, both parties have the opportunity to submit compromise proposals based on the individual interests of each side.

After submitting your compromise proposal for the file, the system updates the data and waits for the other side in the dispute to submit their compromise proposal.

If the two proposals are compatible with one another, the system will produce the price of the compromise, which is based on the proposals submitted by both parties.

If the two proposals are not compatible with one another, the system will inform the parties that the proposal failed and will give the two sides another chance to submit compromise proposals.

If after five attempts the parties are unable to reach a compromise, the system will automatically suggest a compromise price using its unique ability to interpret the “wisdom of the crowd,” to examine the proposals submitted by the parties and to provide them with the optimal compromise proposal. If the parties do not agree to the compromise price offered by the system, they will be given an opportunity to once again submit five compromise proposals. If a compromise is still not reached the system will once again suggest its own compromise, and this process will continue for a period of 30 days.

After 30 days the file will be closed in the Conflicteam system.

WHAT IS ODR - ONLINE DISPUTE RESOLUTION ?



ODR is a branch of dispute resolution which uses technology to facilitate the resolution of disputes between parties. It primarily involves negotiation, mediation or arbitration, or a combination of all three (Online dispute resolution - Wikipedia)