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Principal Technology HK Limited
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Online Arbitration Platform
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Description
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Description
The online arbitration platform adopts a combination of online technologies and efficient arbitration methods to resolve commercial, money lending, trading and other disputes. The whole process will be held online and it will enable the parties to resolve a dispute while not having to meet in person. It can take place at any time regardless of geographical distance, and asynchronous communication is possible. The filing of claims, appointment of arbitrators, making of preliminary enquiries, submission, interrogatories and enquiries and delivery of awards will be made through the online arbitration platform. The documents, photos, videos and other evidence will be submitted by cloud-based technology under the platform. Artificial intelligence will be used to help streamline the process for the arbitrator and parties, to assist the parties to draft the pleadings, to summarize the facts and evidence for the drafting of the award and to frame the issues of the disputes for the arbitration proceedings. There is a fixed schedule for the process and a binding award is delivered within 1 month of the start of the process. Awards are binding and enforceable in Hong Kong, mainland China and 158 countries around the world and are enforceable in the same manner as a court judgment pursuant to the Arbitration Ordinance Cap. 609. The arbitration fee is fixed and is more affordable and cost-effective than litigation. The winning party can receive a full refund after the award has been rendered. Accordingly, the disputes can be resolved in a more efficient and cost-effective manner.

Principal Technology HK Limited

Principal Technology HK Limited

Hong Kong

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