The paper analyses the issue of Online arbitration, including its concept, indications and prospects for implementing under the legislation of Ukraine. Online arbitration is defined as a high-grade independent, impartial and efficient mean of resolving disputes posed by treaty and non-treaty relations through the use of the digital transmission and preservation data methods. The aim of its application is defined as rapid and cost-effective resolution of a dispute without necessity of compliance with procedural rules pro forma. The legal nature of Online arbitration is identified as a derivative from the legal nature of classic arbitration (as with the classic arbitration, attention is being given tothe provision of independence and impartiality of persons involved in dispute resolution). Delocalization of Online arbitration is considered as one of its key features. The specified feature resulted from the e-commerce cross-border nature. It is difficult enough to link Online arbitration and any national law. Online arbitration cannot be considered as a cyberspace phenomenon which is excluded from the legal scope and there is a need for its legal settlement under both international and national levels. Special attention is given to the development of Lex electronica – transnational e-commerce law which is an international system of rules to regulate relations in transnational deals in an electronic environment. Advantages and weaknesses of Online arbitration are defined.
Keywords: Alternative Dispute Resolution, lex electronica, delocalization, e-commerce