Online Negotiating

Smartsettle One, featuring the latest in eNegotiation technology, is a server-based system enabling users to negotiate using Visual Blind Bidding using a browser on Mac, PC or Linux. Distances are bridged and travel is reduced, making the system more convenient and eco-friendly than traditional methods. The system can also be used effectively in combination with face-to-face meetings.

An excellent way to learn how Smartsettle works is to experience it yourself. You can do that by participating in a Smartsettle One competition. Click here to sign up.

Easy as Pie

> Click here to study a simulation of the Fortunate Farmers case.

That's all you need to know. The following videos are included here for your optional review:

> Watch Video 1 - Home renovation case: Homeowner's Side or Download MP4 (any player)

> Watch Video 2 - Insurance Case: Claimant's Side or Download MP4 (any player)

The concepts demonstrated in the above materials are explained in more detail below.

Asynchronous Progress

If users have conflicting schedules or restricted availability due to different time zones, they can still continue to move toward resolution using the email and alert features of Smartsettle One. Parties can make their move, log out and wait to be notified of another party's response without jeopardizing progress.

Process Controls

Smartsettle negotiations are organized with sessions. If agreement occurs, it is declared only at the end of a session. The party that ends a session typically begins the next one. This effectively doubles the speed of the negotiation process.

Visible Proposals / Hidden Acceptances

Finally, here is a tool that enables negotiators to keep their preferences private but still see what they are negotiating: Smartsettle enables parties to exchange proposals and generate suggestions that are clearly visible for consideration. What is hidden from each party is the acceptance of the other. This feature allows parties to quickly indicate what they are willing to accept without concern about revealing their hand. A deal is declared at the end of a session if both parties have accepted at least one of the same values, and the tedious negotiation dance that characterizes most ordinary negotiations is virtually eliminated.

Reward for Generosity

Smartsettle rewards an early move into the Zone of Agreement. Essentially, this means that parties who negotiate in a professional manner, quickly accepting what is fair and equitable, are rewarded with a better final settlement. The illustration here is based on the insurance case scenario shown by the second video posted above. If both parties behave in this manner, the negotiation will likely be concluded with one visit by each party. Both parties are then rewarded with the savings represented by a quick settlement. See the related resources listed below for more information.

Final Session and Optional Arbitration

Final Session may be declared by either party at any time, at which point parties may also opt for Dampened Pendulum Arbitration. If parties agree to arbitration and no agreement is reached at the end of Final Session, Smartsettle uses the opinion of an expert to favour the party whose last accepted value was closest to fair. The illustration here is based on the scenario shown by the insurance case video posted above.

Related Resources:

• 9-Year-Old Wins Prize in Smartsettle One Competition
• Smartsettle One Competition Produces 93% Settlement Rate
• Smartsettle Rewards for Good Negotiating Behaviour