E-Settlements

There are now at least three online settlement schemes where claimants and defendants negotiate damages levels through a series of “blind bids” over the Internet. Each side submits a suggested settlement figure and when the figures are close enough the case is settled automatically. If the bids are too far apart they are kept secret so neither side is forced to reveal its hand during negotiations. It is claimed that e-settlement schemes allow settlement in hours rather than weeks and make negotiations cheaper and more certain. Further information can be obtained from TheClaimRoom.com, wecansettle.com and eSettle.co.uk. Graham Ross, managing director of TheClaimRoom says the use of e-settlement is not restricted to personal injury claims. “It can be used in any case where there is a need to resolve a monetary value: commercial disputes and consumer complaints, for example”. TheClaimRoom is running a pilot scheme for the Association of British Travel Agents to resolve holiday disputes and has plans to offer online mediation.