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This monograph examines the use of private alternative dispute resolution (private ADR) by firms in the banking industry in response to a perceived liability crisis in the 1980's. The firms tested a procedure with which they were familiar, contractual arbitration provisions, initially in those contracts which were the source of the greatest liability concern and the most litigation cost. The firms stated that they were most interested in reducing the likelihood of punitive damages and eliminating the unpredictability of juries. Interviews indicate satisfaction with the private ADR program. Data collected from one firm show that the number of new cases filed against that firm in those areas, and the expected liability from these cases, declined after the introduction of the provisions. However, the actual funds paid for verdicts and settlements in these areas increased. Despite these conflicting results, the future for private ADR appears to be bright in this industry.
A History of Alternative Dispute Resolution offers a comprehensive review of the various types of peaceful practices for resolving conflicts. Written by Jerome Barrett—a longtime practitioner, innovator, and leading historian in the field of ADR—and his son Joseph Barrett, this volume traces the evolution of the ADR process and offers an overview of the precursors to ADR, including negotiation, arbitration, and mediation. The authors explore the colorful beginnings of ADR using illustrative examples from prehistoric Shaman through the European Law Merchant. In addition, the book offers the historical context for the use of ADR in the arenas of diplomacy and business.
This book examines the concept of ‘naming, blaming, claiming’ in the application of arbitration for private banking dispute resolution. The author focuses on examining this issue using Hong Kong as a case in point, blending theory and empirical evidence to unveil how disputes are resolved within the banking and finance industry, which will enable them to explore possible effective and efficient mechanisms to resolve financial disputes. The book offers a comprehensive review of the laws and regulations governing the private banking industry in Hong Kong and selected jurisdictions, as well as how they are implemented. It examines the clients’ perceptions through an innovative methodology for empirical studies. Describing how clients react to the laws and regulations and the potential adverse impacts to the stability of the banking industry, the author identifies possible factors that could trigger another financial crisis. Synthesising his analysis, the author proposes newly discovered self-corrective mechanisms embedded among clients and concludes with policy recommendations. Directly relevant to banking practitioners, particularly legal and compliance departments, and senior management, the book is also written for legal professionals interested in the practices of dispute resolution in banking and finance. Additional readerships will include bank regulators, government officials, policy makers, researchers, and those involved in courses in banking and financial law, as well as Arbitration and Dispute Resolution.
"Arbitration and mediation in international business was first published in 1996 and was one of the first comprehensive studies on the practice of international business dispute resolution, covering both international commercial arbitration and the so-called ?alternative? techniques such as mediation. The book also provided an empirical analysis of how both arbitration and mediation are conducted in a crossborder context, along with a normative guide to the relative costs and benefits of these two methods. This second edition is not just an updated version of the first edition but a new book in itself: Benefitting from the contributions of two co-authors, the work has been enhanced by discussions of innovative tools for making settlement negotiations more effective, and by the in-depth analysis of practical techniques to integrate mediation and arbitration in international business. Also, a comprehensive new empirical survey was conducted in order to capture new trends in this rapidly developing field. The result is a ?must have? resource for anyone having to deal with potential conflict in international business relationships."--Publisher's website.
Offers an account of ODR for consumers in the EU context, presenting a comprehensive investigation of the development of ODR for business to consumer disputes within the EU. This book examines the role of both the European legislator with the Mediation Directive and the English judiciary in encouraging the use of mediation.
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Dispute Resolution in Islamic Finance addresses how best to handle disputes within Islamic finance. It examines how they can be resolved in a less confrontational manner and ensure such disagreements are settled in a just and fair way. There has been little focus on how disputes within Islamic finance are resolved. As a result, many of these disputes are resolved through litigation, notwithstanding that the various jurisdictions and court systems are generally poorly equipped to handle such matters. This book addresses this gap in our knowledge by focusing on five centres of Islamic finance: the United Kingdom, the United States of America, Malaysia, the Kingdom of Saudi Arabia and the United Arab Emirates. Before exploring these countries in detail, the book considers the issues of the choice of law within Islamic finance as well the prevailing forms of dispute resolution in this form of finance. The book brings together a group of leading scholars who are all specialists on the subject in the countries they examine. It is a key resource for students and researchers of Islamic finance, and aimed at lawyers, finance professionals, industry practitioners, consultancy firms, and academics.
Mobile technology offers an innovative and cost-effective channel for delivering a range of financial services, including mobile payments. In some jurisdictions, mobile payments simply provide a convenient option for facilitating payment transactions. In other jurisdictions, mobile payments are viewed as potentially transformative because they present an opportunity to expand access to financial services. However, as with other innovations, mobile payments raise consumer protection concerns and require robust regulatory mechanisms to address such concerns. Against this backdrop, the book adopts a typology of consumer policy tools which can be used to address the identified consumer concerns. This typology guides the enquiry into the existing consumer protection frameworks applying to mobile payments in selected jurisdictions (Canada, Kenya, and the United Kingdom). The main objective of this endeavour is to identify best practices that national authorities seeking to leverage mobile payments and similar innovations can emulate. This book will be of interest to policymakers, regulators, industry stakeholders, students, and scholars interested in the regulation of innovative financial services, particularly from a consumer protection perspective.
Multilateral development banks and other development agencies have adopted environmental and social safeguard policies setting due diligence standards for the provision of project finance. Such policies are evolving in terms of the activities covered and in their normative requirements. Recent iterations incorporate human rights requirements, recognising the imperative of adopting human rights-based approaches to development. Each institution has also established independent accountability mechanisms (IAM), variously functioning to ensure compliance with the applicable safeguards, to advise management regarding the application of the obligations involved, and to facilitate communication with affected communities and individuals with a view to resolving project-related disputes. IAMs are central to the implementation, interpretation, and ongoing elaboration of safeguard policies, and thus to the environmental and social good governance so essential for sustainable development. This edited volume presents a series of in-depth examinations by leading experts from banking institutions, academia and civil society, of key aspects of the rapidly evolving practice of IAMs, and of the implications of such practice for environmental and social governance.