Thanks to continued feedback from institutional partners and end users, our software team has been working diligently to develop some exciting new features. In the coming months you will see a focus on end user engagement and interaction throughout the DRD application.
The first quarter of 2017 has brought some exciting enhancements to facilitate end user detailed analysis, broaden currency collection methods, and focus on increased template functionality. Dispute Resolution Data will continue to seek out opportunities to observe and spend time with our end users, listening and learning, to help inform us of your most significant business challenges and how DRD can provide solutions. Here are some of our recent enhancements:
A Detailed Stats page for our data researchers. A series of filters located on the left column combined with our Case Type and Region Filters drive a series of stats that give the end user an in-depth look at granular data. For example, knowing that all arbitration cases are awarded in an average time of 67.7 weeks is interesting but when you filter the cases by size looking at cases between 100,000 and 1,000,000 USD you see that the average time falls to 65.9 weeks.
Our data collection template continues to evolve - DRD is now enabling end users to specify different currencies for any amount entered into the template for the situations where a contract currency may be different than the currency used to pay the institutional fees, and capturing new data on the amount in controversy for mediation cases. Collecting this new data will allow users to look at interesting trends on mediation in relation to amounts in controversy. Through your feedback we have continued to refine and add helper text throughout the template in an effort for data entry to be universally understood. This includes definitions explaining possible outcomes for case conclusions. These definitions can now be found on our FAQ page.
Finally, we have been focused on developing new statistics using trend data. DRD has been able to capture case data from the past seven years and will be developing graphs with user selectable date fields to display within the application. These graphs will be located in the Arbitration/Mediation navigation windows and will allow the end user to see how averages such as claim or award amounts have changed over time. Pictured below is a scatter plot that produces a correlation between claim amounts over time. In this example we are viewing the trend of claim amounts in international commercial arbitration cases from 2009 to 2017.
In the graph, the dotted trend line shows that the average claim has increased from $4,000,000.00 to almost $7,000,000.00 over the past seven years. An increase of over 50% during that time could point to a growing trust in commercial organizations in arbitration as a dispute resolution process.
This new functionality will add a new layer of interaction for our end users within the application to help them make data driven decisions.
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Policy on Funding Moot Competition Teams
Each year ArbitralWomen provides support to a number of Teams who participate in dispute resolution competitions, such as the Vis or Vis East International Arbitration Moot by covering their registration fee.
Following are the conditions for the funding:
Any qualified team requesting financial assistance must complete an application form providing details of the teams, resources, and the reason for the requested assistance. The application form is available on the website, and may be amended from time to time as the Board deems appropriate.
The Board, through its Moot Bursary Committee, shall consider all applications received and decide which team(s) shall be supported through payment of its(their) registration fee to compete. In general, teams selected will be from different countries. Applications filed after the deadline will be disregarded.
Criteria of selection:
The team must reflect ArbitralWomen's mission of promoting the participation of women in dispute resolution, i.e. at least half of the members of a team must be women.
The team must demonstrate the need for financial assistance.
Priority will be given to teams:
who have not previously participated, and whose school has not previously participated;
who have no support from their universities or no coach;
who come from developing countries or jurisdictions which, in the sole discretion of the Board, are in the greatest need of support for the advancement of women in dispute resolution;
of smaller number of students composing the team (for example 4 students as opposed to 8).
An all-female team may be awarded the ArbitralWomen President’s Bursary if the other requirements are met.
Nothing in this Policy prevents a team, which has already received funding in one year, from applying in future years. The Board shall treat each application on its merits and in relation to other applications received for that particular year.
The Board shall effect payment to the final payee rather than directly to the team. In the event the team for any reason cannot participate, the Board at its sole option may request a refund from the organising authority, may request the organising authority to apply the funds to assist another team in that year, or may request that the funds be used to pay for another team in the following year.
Funding will, in the first instance, be sought from external sponsors, who shall be identified and introduced to the sponsored team(s). Further funding by ArbitralWomen itself in any given year will be contingent upon the existence and maintenance of sufficient funds in the account of ArbitralWomen. Each year, the Board will decide the number of awards to be given in that year. Nothing in this Policy obliges the Board to provide funding in any given year.
Although the ArbitralWomen Moot Bursaries are limited to payment of the registration fee, as mentioned above, there is nothing to prevent the chosen sponsors from providing additional assistance to the teams assigned as their "fundee", but any such arrangement will be made directly between the sponsor and the applicable team.