A Web Based Dispute Resolution System (A Case Study Of Nigerian Capital Market)

ABSTRACT

The need for a veritable dispute resolution mechanism other than litigation in the Nigeria Capital Market has been reemphasized. According to Musa Al-faki he states that "there is need for alternative dispute resolution which would be used to replace the traditional litigious and adversarial dispute resolution mechanism on ground". The aim of this project is to discuss how to deploy resolution mechanisms for the benefit of the market and its promises i.e. the ADR (Alternative Dispute Resolution) to take the market further and repair broken relationships. This system is business friendly and efficient as it would "offer the restoration of cordial relationship, cooperative deliberation and satisfaction with the settlement". Nothing also that the Nigeria judicial system, although has recorded commendable successes needed to do more to enthrone confidence in the system. Al-faki also states that the "judicial system is expensive and not always user friendly; it remains characterized by inordinate and often inexplicable delays". Alternative Dispute Resolution covers a wide range of alternatives to litigation which involves third party intervention to assist the resolution of disputes. Furthermore, this system also focuses on the cultivation of an attitude of patience, negotiation, seeking mutual understanding, tolerance and accommodation. The web application package for the design of the interface is HTML (Hypertext Markup Language).