Electronic Arbitration and a Means to Resolve Disputes in Financial Transactions

Abstract

The conclusion of financial transactions electronically raises many problems that may arise between its parties due to the medium through which it takes place, provided that these transactions include in their contracts a clause stating the possibility of resolving disputes by electronic arbitration, or the parties agree to resort to electronic arbitration after the dispute has occurred, that is, the parties to the dispute agree to resort to electronic arbitration either within a special condition of the contract, but there is nothing to prevent the agreement on arbitration being contained within a document containing the arbitration clause and considering it an integral part of the contract or in the terms of the original contract, but what counts is the agreement before the dispute arose, or the agreement of the parties to resort to arbitration in a dispute has already arisen between them, and it is subject to the general rules that regulate the provisions of the electronic contract, which is conducted through electronic means, that is, the contract concluded remotely takes place through the exchange of goods and services between the supplier and the consumer through the special rules that regulate the sale via the Internet until the completion of the contract.