Binding and non-binding mediation for the new global world online.
Chain BLX offers an unbiased opinion based on self-regulatory driven binding and non-binding Mediation Services. This service is performed by the same highly reputable global experts which are juries and bounty hunters as well as others deciding on the accreditation status of whitepapers. We provide a fully transparent, economical, and quick binding mediation and non-binding mediation services to resolve conflicts in the most objective manner currently existing.
In every business relationship, there is the potential for conflict over contractual agreements or business operations. When such conflicts arise, there is no need to incur the onerous expense and delays involved in traditional litigation. There are readily available alternative dispute resolution procedures that will enable you to resolve your disputes relatively quickly, fairly, and cost-effectively.
Chain BLX cannot guarantee that results may vary in different jurisdictions around the world if you choose to protect yourself.
For your convenience, the below Chain BLX Standard Arbitration Clause could be inserted into contracts.
“Any dispute, claim, or controversy arising out of, or relating to this Agreement or the breach, termination, enforcement, interpretation or validity thereof, including the determination of the scope or applicability of this agreement to arbitrate, shall be determined by binding/non-binding (choose between one or the other) mediation before mediators randomly selected through the Chain BLX online mediation service. The binding mediation shall be administered by Chain BLX pursuant to its opinion-based mediation rules and procedures. Judgment on the Award may be entered in any court having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction.”
If your contract has a mediation provision (or both side desire mediation) and you wish to file for mediation, binding or non-binding, your first step is to purchase a prepaid key.
If an individual, you must buy Prepaid Mediation 1.
If you are a firm, you have to choose one of the options based on your firm size. In each options description, you can see how they differ between size of Firm and Individual. You can choose from all Prepaid Mediation options, 1-4, but please carefully look at the description of each option so that you make sure you select the correct one for your firm.
After purchase, the mediation key will be automatically sent to you by email. Earnings from mediation are given to mediators, while Chain BLX will retain 25% of the mediation key fee for administrative costs.
ChainBLX Mediation Advantages
About the Mediation Process
Chain BLX, the first truly independent, opinion-based, self-accreditation and mediation service, for and by the blockchain community.
The mediation and binding mediation processes are cost effective and can be easily conducted online (where local and other applicable laws allow for utilizing our services)
The role of the jury (now called mediators) differs from the Chain BLX accreditation process, as mediation process is geared to find a consensus between two parties, rather than a quality check accreditation of an existing white paper.
Our experts, having helped people in a variety of different blockchain and cryptocurrency related issues, are the key people to understand both sides. This means they have the ability to stay neutral. Our system is set up so that a consensus is reached in the most effective manner, whether or not the mediation is binding or not.
Let us walk you through a hypothetical binding mediation scenario. To explain what one may expect and how it will work.
Let's assume a startup firm would like to raise investment over an initial coin offering utilizing their new consensus algorithm and blockchain. The firm proposed in the white paper to open source their technology and hold the blockchain decentralized. The firm decided to put a binding mediation clause utilizing Chain BLX in their contract. After funding and a year of operations, the firm gets an offer to sell the technology to another firm to a price where every investor will get 10 times return on investment. Most of the investors are happy with the decision as they make money, and which was their goal. But others don’t see it as favorable since they invested in a business idea and thought the company will open source it, following the bitcoin model, believing that at the end this will provide them with far superior earnings.
Of course, this is a hypothetical scenario and serves only as a scenario to explain mediation steps. A startup firm would not experience this issue if they would seek accreditation through us and not just use our services as a mediator. But nevertheless, the firm in our hypothetical scenario may have done one thing right in using our mediation clause in the contract, avoiding further conflict and possibly millions of attorney fees.
Let's further assume that it is only a few investors who are unhappy, say 5 out of 200, and they want to block the startup from completing the sale.
Those investors would go to our mediation side and open a mediation. Each investor would go as an individual and pre-pay each mediation fee.
After doing so, each investor will receive a private mediation key password to access the system by email.
In the first step, the investors would be asked to fill in all the company’s information.
In the second step, the investors will be asked if this is a binding or non-binding mediation, according to the contract they signed with the startup.
Then they would be asked if they would like to join with other people together (let's remember that there are 5 different unhappy investors). They can do so by entering a public mediation key which one member requested and share it with the rest of the group.
After 5 days the group closes and new registrations to the group will not be possible anymore. At this time the firm is informed about the group's attempts to mediate.
Each member of the group will have to fill out a form which is discussion forum like, organized with a timeline of events and they can upload any supporting documents. Each member also has to explain why he feels mistreated and what he expects the firm to do to resolve said issues.
The startup will then enter the mediation process by paying their own mediation fee. The startup will get access to all the data. As a first step, the firm will provide information about the history guiding to this event by entering facts and milestones into the timeline. As much of the events will be agreed or disagreed on, buttons will help to produce a common timeline with all the events all parties agreed upon on and all the events which parties don’t agree upon.
Now it is the startup’s time to write why they think they did not mistreat the individuals (each investor or the investors as a group) and if they would like to bring something up where they think the group was mistreating them (counterclaim) they can do so now. All of this information will now be shared with each investor of the group.
Now we have reached the first very important step in a resolution process of a conflict.
Everyone knows each other’s positions, everyone knows what they agreed upon, how this conflict came to existence, and what they don’t agree upon.
Now it is the time to make an offer that each investor and the startup would take for each one to settle this conflict. The offers are exchanged and if their opinions are still too far apart. It will now go into the next step.
In this step, the computer application will choose three random mediators out of our system. The first mediator will read all the comments and timelines, review the attachments, and will write an opinion stating what the mediator would see as a fair solution. Then, time will be given to everyone involved to comment if they agree with his suggestion or not, and why they agree and why not.
This is the last time that any party can add new information into the system to make a decision. Remember, holding back information harms the process to find a fair, agreeable, solution for all parties.
Now it is time for both parties to again exchange an offer amongst them. The system asks to provide a counteroffer if the offer is refused (of course the counter could be the same offer again, although this would be a non-helpful gesture from the part of any participant).
If still no settlement agreement is reached the process continues.
Now, the second and third mediator go to work. Each of them will review the timeline, offers, attachments, and opinion from the first mediator. After their review, each of the last two mediators will write their own opinions on how they would solve the conflict.
Now each party can again explain why they agree or disagree with each of the last two mediators. Afterward it's time again for both parties to exchange an offer amongst them. The system asks to provide a counteroffer if the offer is refused (of course the counter could be the same offer again, although this would be a non-helpful gesture from the part of any participant).
Now, and only if necessary, it is time for the final step.
Most likely both parties will have already agreed on a solution to their issue. But if not, each party can strike one mediator out (if the party is a group, the majority of their opinion decides the strike). Therefore, one mediator is left out of the three randomly selected mediators. He/she will review all the opinion and comments from the other mediators as well as from all the parties.
He/she will look through the Chain BLX database of past opinions if a similar opinion was reached already and he/she will formulate a binding or non-binding opinion based on all the factors above.
After this, the system will make the opinion public and save it in our database of past opinions. The whole amount of mediation fee collected during this process is split equally between all three mediators and Chain BLX. In the case that the first mediator achieved that both parties settled before the other two mediators entered the process, that first mediator is entitled to 75% of the total fee
Mediation from start to finish under 2 Month possible.
|Day 1||Filing for mediation|
|Day 5||Last day to combine cases for the entity filing a claim.|
|Day 6||Information is sent via email to a second party. If no email was provided the filing party has to serve the other party with the documents. (the documents are ready to print out once the mediation process is started|
|Prior Day 7||It is expected that the other party will access the system and starts the process from their end. But this may take longer due to other reasons not under our control.|
|8 days after both parties are participating in the system||The second party should have completed their part including counterclaims. The system will not allow any more filings after this time.|
|16 days after both parties are participating in the system||The filing party will need to answer the counterclaims|
|18 days after both parties are participating in the system||The first settlement offers have to be exchanged|
|20 days after both parties are participating in the system||The first mediator will be appointed|
|27 days after both parties are participating in the system||The first mediator’s opinion will be published|
|29 days after both parties are participating in the system||The second settlement offers have to be exchanged|
|30 days after both parties are participating in the system||The second settlement offers counteroffers have to be exchanged|
|30 days after both parties are participating in the system||The opinion on the first mediator’s opinion brief has to be submitted|
|40 days after both parties are participating in the system||Mediators 2 and 3 will post their opinions.|
|45 days after both parties are participating in the system||All party’s opinion regarding mediator’s opinion briefs have to be submitted as well as each party has to choose to strike one mediator. If a party will not strike a mediator a mediator will be randomly stricken by our system.|
|A mediator normally will take 5 days to write his opinion, but it can be later or earlier.||The opinion will be registered|