Definition Edit

Blind bidding is

a dispute resolution process pursuant to which the parties to a commercial dispute submit their monetary offers and demands to an automatic system. Each party's offer or demand is not disclosed to the opposing side; rather, the computer software in various “rounds” compares each offer and demand. If one party's offer matches the opposing party's demand or is within a specified range, then the case is settled for the amount that is a match or for the average of the offer and demand where it falls within the specified range. Blind bidding is a highly efficient and beneficial method of ODR where interests of the parties involved are purely numerical. In the case where the parties’ interests cannot be put into numerical terms, then a more “neutral-managed” ODR mechanism — arbitration or mediation — must be used.[1]

References Edit

  1. Addressing Disputes in Electronic Commerce, at 17 n.35.

Ad blocker interference detected!

Wikia is a free-to-use site that makes money from advertising. We have a modified experience for viewers using ad blockers

Wikia is not accessible if you’ve made further modifications. Remove the custom ad blocker rule(s) and the page will load as expected.