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To find your arbitration clause, read the fine print, look for dispute resolution key terms, and utilize the CFPB's credit card agreement database. If you take the time to thoroughly review your credit card agreement, there is a good chance you will find a mandatory binding arbitration clause.
1. An arbitration clause forms the basis of the consent between investors and States that certain disputes are to be determined by arbitration. This consent is what gives rise to the jurisdiction of the arbitral tribunal. See also Jurisdiction of arbitral tribunals.
(a) An agreement contained in a record to submit to arbitration any existing or subsequent controversy arising between the parties to the agreement is valid, enforceable, and irrevocable except upon a ground that exists at law or in equity for the revocation of a contract.
(a) Before an arbitrator is appointed and is authorized and able to act, the court, upon motion of a party to an arbitration proceeding and for good cause shown, may enter an order for provisional remedies to protect the effectiveness of the arbitration proceeding to the same extent and under the same conditions as if ...
Motion to compel or stay arbitration. (2) If the refusing party opposes the motion, the court shall proceed summarily to decide the issue and order the parties to arbitrate unless it finds that there is no enforceable agreement to arbitrate.
You can compel arbitration as long as you have a valid and enforceable written agreement to force the other party to submit the dispute to arbitration. For instance, if a debt collector sues you, you can file a Motion to Compel Arbitration to avoid going to court or delay the court process.
Yes. The Federal Arbitration Act, or FAA, was passed in 1925 in response to a variety of court decisions that held arbitration agreements unenforceable. This law provides that arbitration agreements are generally valid and enforceable.