American Arbitration Association Announces New eCommerce Protocol; Standards Developed for Online Business-to-Business Dispute Management.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 4, 2001 The American Arbitration Association The American Arbitration Association (AAA) is a private enterprise in the business of arbitration, and one of several arbitration organizations that administers arbitration proceedings. The AAA also administers mediation and other forms of alternative dispute resolution. (AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. ), the nation's largest dispute resolution provider, announced today that they have developed, in collaboration with key industry leaders, a new B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business eCommerce dispute management protocol. Initial signatories to the protocol include AT&T; BellSouth; Clifford Chance LLP; DaimlerChrysler AG; Debevoise & Plimpton; FedEx Corporation; Freshfields Bruckhaus Deringer LLP; Honeywell; Hughes Hubbard & Reed LLP; Microsoft Corporation; PepsiCo, Inc.; Philips Semiconductors, Inc.; Pitney Bowes, Inc.; Skadden, Arps, Slate, Meagher & Flom LLP; Sullivan & Cromwell; Unisys Corporation; Wells Fargo & Company; and Wilson, Sonsini, Goodrich & Rosati. Approximately $1.2 trillion was spent in business-to-business electronic commerce in 2000 - and analysts project a $4.8 trillion market in 2004. With more companies than ever entering this arena, business disputes are inevitable and threaten to disrupt the continuity of the B2B supply chain. According to William K. Slate II, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the AAA, companies looking to profit from this growing marketplace need to learn to avoid the pitfalls of protracted pro·tract tr.v. pro·tract·ed, pro·tract·ing, pro·tracts 1. To draw out or lengthen in time; prolong: disputants who needlessly protracted the negotiations. 2. court battles that can last years and cost billions. Traditional companies have long recognized the enormous benefits of alternative dispute resolution Procedures for settling disputes by means other than litigation; e.g., by Arbitration, mediation, or minitrials. Such procedures, which are usually less costly and more expeditious than litigation, are increasingly being used in commercial and labor disputes, Divorce (ADR ADR - Astra Digital Radio ), experiencing resolutions that are less expensive than litigation, are private, and enable them to preserve and even enhance relationships and uphold the continuity of business. Now these benefits will become a standard for the digital marketplace. "This protocol is an educational wake-up call," said Slate. "Setting a global standard will give practitioners the necessary confidence and trust in online transactions to be successful in B2B eCommerce." Furthermore, in order to make seamless "eDispute management" a reality, the AAA is creating a new technology-focused service, details of which will be announced soon. About the American Arbitration Association The leader in conflict management since 1926, the American Arbitration Association is a not-for-profit, public service organization dedicated to the resolution of disputes through the use of arbitration, mediation, conciliation conciliation: see mediation. , negotiation, democratic elections and other voluntary procedures. In 1999, more than 140,000 cases were filed with the Association in a full range of matters including commercial finance, construction, labor and employment, environmental, health care, insurance, mass claims and technology disputes. Through 37 offices nationwide and cooperative agreements with arbitral institutions in 38 other nations, the AAA provides a forum for the hearing of disputes, rules and procedures and a roster of impartial experts to hear and resolve cases. |
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