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A new database has been published with more than 66,000 data fields on thousands of commercial arbitration cases in 136 countries, enabling legal professionals to analyze international arbitration in new ways.
No, it's not from Wikileaks or Edward Snowden. It's from a start-up company called Dispute Resolution Data, which has contracts to collect and release the information from some 20 arbitration institutions.
This is a significant release of information because, historically, commercial arbitration has been confidential. Commercial arbitrators have closely guarded case information to maintain participant privacy. Dispute Resolution Data takes that information and creates research analytics.
To avoid privacy issues, the data collection company receives the information from arbitrators after cases are closed and without client names and details. That information remains in the custody of the arbitral institution. The database went live for the first time last month.
"The ICC [International Chamber of Commerce Court of Arbitration] data is being put in as we speak," said William K. Slate II, co-found of Dispute Resolution Data.
The ICC International Court of Arbitration handles as much as 1,000 international commercial arbitration cases each year. The database offers subscribers statistics in various industries or categories, including awards, settlements, withdrawals, dismissals and administrative closures. It also shows whether attorneys used discovery methods and filed counterclaims or other motions.
Subscribers, who pay a nominal fee for access to the data base, may use the information for any legal purpose. Attorneys may use it for drafting international commercial arbitration clauses or for preparing to advise clients about the likely outcome, cost and duration of international mediation and arbitration cases.
Educational and noncommercial organizations, who pay a reduced fee, may use it for studies and policy-making. For example, the data shows in December that among five of the 28 types of international commercial arbitration cases in Latin America, cases averaged ranged from 40 to 62 weeks.
"Arbitrations in the hospitality industry that resulted in awards lasted an average of 95.7 weeks, while arbitrations in the real estate industry that resulted in awards concluded much more quickly, lasting an average of just 34.7 weeks," the Dispute Resolution Data analytics show.
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