If you're a prospective plaintiff, however, the most important thing for you to know is that signing a mandatory arbitration clause means you waive your right to file your claim in court to be tried by a judge and/or jury.
A form of ADR, arbitration involves both parties presenting their case to a neutral third party (an arbitrator) who considers the issues and gives their decision (called an award). An arbitrator has the power to make a range of awards depending on the circumstances of the case. Awards may include: Monetary compensation.
The contract that contained the arbitration clause is void, rendering the arbitration clause unenforceable; The prevailing party utilized fraud or corruption to obtain a decision in their favor; or. The arbitrator made an incorrect calculation when determining the prevailing party's financial award.
In some instances, you may be able to sue if you signed a valid arbitration agreement. While courts generally favor arbitration agreements, they will allow you to file a lawsuit if either you didn't understand your rights or your claims fall outside the arbitration provision's scope.
Generally Arbitration Agreements Are Enforceable When faced with the question of whether or not to enforce an agreement to arbitrate, American courts routinely uphold the vast majority of arbitration clauses.
A party is deceived, intimidated, or coerced during the execution of the arbitration agreement and requests a declaration that such arbitration agreement is invalid; and. The arbitration agreement violates prohibitions specified by the law.
Yes. By agreeing to arbitrate, you and the Company both give up the right to resolve a dispute in a court or an administrative agency.
While it is true that arbitration is generally private because the public is excluded from the arbitration hearing, it does not follow that the arbitration proceedings remain confidential.
How long will it take to resolve my dispute through arbitration? Usually it can take up to 40 days. However, many arbitration claims are resolved sooner.