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Arbitration clauses are often enforced ing to contract law principles. However, some jurisdictions hold them unenforceable if there has been any fraud, overreaching, or the absence of mutuality with terms such as ?any,? ?all,? or ?every? (as opposed to ?some?) in the arbitration clause.
Recognition or confirmation of an award is usually sought by filing a petition. The party seeking recognition and enforcement or confirmation of an award must submit to the court a copy of the award and the parties' arbitration agreement.
Case law stresses that an agreement to arbitrate has to be enforced to at least the same extent as any other agreement?after all, a deal is a deal, so if the parties agreed to arbitrate, they should be required to arbitrate.
How to Protect Yourself Against Forced Arbitration Look for arbitration language. Information regarding forced arbitration is usually buried in the company's terms of use or legal terms and conditions. ... Opt-out when you can. ... Submit official complaints. ... Negotiating using the legal leverage you have.
Arbitration clauses are often enforced ing to contract law principles. However, some jurisdictions hold them unenforceable if there has been any fraud, overreaching, or the absence of mutuality with terms such as ?any,? ?all,? or ?every? (as opposed to ?some?) in the arbitration clause.
Practice Pointer: Parties ignore arbitration proceedings at their peril. Refusing to participate in an arbitration will not prevent an arbitration award against that party once it has agreed to arbitrate.
As a form of alternative dispute resolution, arbitration proceedings can either be binding or non-binding. The former simply means the decision is final and enforceable, while the latter that the arbitrator's ruling is advisory and can only be applied if both parties agree to it.
Arbitration claimants have access to the same collection tools as in a court judgment: if a respondent fails to pay an arbitration award, the claimant may take the award to court and have it converted to a judgment.