While Assembly Payments strives to resolve disputes by convincing both parties to agree with our recommendation, some will inevitably be adamant with their desired outcomes, and are unwilling to reach an agreement.
Once a Dispute reaches a stalemate, as per our End User Agreement, the only way to reach a resolution is to engage in external arbitration. This will be in accordance of the rules of an external arbitration organisation.
Arbitration, a form of alternative dispute resolution (ADR), is a way to resolve disputes outside the courts. The dispute will be decided by one or more persons (the “arbitrators”, “arbiters” or “arbitral tribunal”), which renders the “arbitration award”. An arbitration award may be legally binding on both sides and enforceable in the courts.
The arbitration process takes place outside of the platform/marketplace, and Assembly Payments will then await instructions from the arbitrator as to where to disburse the funds.
Stages of Arbitration:
I. Before Notice
Before Assembly Payments serves the Notice to Arbitrate to both parties, we will inform them of what arbitration entails. This is to encourage them to agree with our recommendation in an effort to avoid arbitration.
Below is an overview of the requirements for arbitration:
1. Costs involved
The cost of filing an arbitration claim alone would likely far exceed the amount that is in dispute. This is not including the arbitrator's hourly fees, as well as other costs involved in the process.
The overall all cost may be borne equally between both parties, or as decided by the Arbitral Tribunal.
2. Initial requirements
The party who wishes to initiate arbitration is required to to submit the following:
- Notice of Arbitration
- Tax invoice from the Arbitration Institution
- Proof of Payment of Registration Fee
3. Time frame to submit notice
Both parties will be given fourteen (14) days to submit the aforementioned requirements.
If either party does not submit the above requirements within the 14-day time frame, we will proceed disburse the funds per our recommendation, and consider the dispute for the transaction resolved.
II. After Notice
1. Serving the Notice
The 14-day Notice to Arbitrate begins once we send an official notification to both parties.
During this period, both parties can still propose alternative amounts or solutions to each other. However, should they still not reach a mutual agreement, our recommendation will prevail once the 14-day notice expires.
2. Escalating to External Arbitration
If either party decides to escalate (known as the “Initiating Party”), they will also need to submit certain requirements which are outlined by the arbitration organisation.
3. Arbitration Complete
Once either party has submitted all the requirements for arbitration, we will inform the receiving party the their dispute will then be solely handled by the arbitration organisation, even this is against the wishes of the receiving party.
At this point, involvement on both the platform/marketplace and Assembly Payments will no longer occur. Assembly Payments’ only responsibility would be to hold onto the disputed funds, and await instructions from the Arbitrator on how to disburse them.