UK JURISDICTION TASKFORCE DRAFT RULES FOR A NEW ARBITRATION PROCEDURE AIMED AT FACILITATING THE RAPID AND COST-EFFECTIVE RESOLUTION OF DISPUTES ARISING OUT OF NOVEL TECHNOLOGIES

On 25 February, an article from Eversheds Sutherland was concerned with draft rules for a new arbitration procedure aimed at facilitating the rapid and cost-effective resolution of disputes arising out of novel technologies, including digital assets, smart contracts, blockchain and fintech.  UKJT has now opened a public consultation on the draft rules and is seeking views.  It summarised the draft rules and says they are an ambitious attempt to reflect in arbitration procedures the complexities involved in emerging digital disputes, and to use that same digital technology to assist in resolving at an early stage those disputes.  The tech sector and the increasing population of firms for which digital technology is ever more important will no doubt wish to feed into the consultation, and await its outcome keenly.  The consultation closes on 5 March.

https://www.eversheds-sutherland.com/global/en/what/articles/index.page?ArticleID=en/Financial-services-and-dispute-investigation/Digital_Dispute_Resolution_Rules

I would be grateful for any modest contribution for my time and ongoing costs of computer, relocation, and (still ongoing) removal costs, I have a page, where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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