Earlier today, Ocean Tomo and the International Arbitration Center in Tokyo announced a collaboration to support tailored dispute resolution and risk management services to expedite pre-emptive COVID-19 business disputes using tele-presence technology.
The COVID-19 global pandemic is first and foremost a health crisis. Business interruption and resulting disputes or the need to revise contract terms has become a direct secondary effect. In response, Ocean Tomo announces a collaboration with the International Arbitration Center in Tokyo (IACT) to jointly offer tailored dispute resolution and risk management services to mitigate the business impact to all parties.
The International Arbitration Center in Tokyo (https://www.iactokyo.com/) (IACT), is a dispute resolution forum for resolving complex disputes. IACT’s arbitrators and procedures are tailored to resolve such cases thoroughly, effectively, and efficiently – to a degree unmatched by other venues.
Utilizing tele-presence technology to expedite dispute resolution proceedings, the IACT offers pre-emptive mediation of dispute resolution, essentially a forum to “rework the deal” in anticipation of a contractual dispute.
In addition, IACT’s COVID-19 specific expedited procedures allow parties to tailor the method of dispute resolution to meet their needs, with options for mediation or arbitration as well as integration of financial analysis by Ocean Tomo experts. Other processes in place by IACT unique to the COVID-19 response include:
- A fast track for the determination of force majeure contentions
- Special COVID-19 panels comprised of experts across a wide spectrum of medical, legal, economic, and other subject matter experts
- Streamlined rules to expedite the processing of claims
Ocean Tomo collaborates with IACT as independent parties to further dispute resolution. Presuming no existing relationship with the parties to a given IACT proceeding, Ocean Tomo may serve as a valuation and damages expert for either party or as a neutral, panel appointed expert to assist IACT. IACT and Ocean Tomo believe that having an independent valuation resource can both expedite the process and provide a fairer, more objective result.
To learn more about the IACT Collaboration, you can download the brochure here.
Join an information webinar taking place on Tuesday, April 7, 2020 at 1:15pm EST and again at 9:15pm EST focused on: Managing Coronavirus Impact on Litigation Operations—Mediation & Arbitration. Register for the webinar presented by the International Arbitration Center in Tokyo, here.