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Binding Arbitration Clauses First off, I do not think that binding arbitration clauses should ever restrict the arbitration to only one group of people (ex. Home
using it as a way to cheat their consumers. Many consumers agree to binding mandatory arbitration clauses unaware of the repercussions that exist. Consumers are given
between consumers or employees and large corporations increasingly include clauses that require binding arbitration for all disputes and a bar on class action litigation.
in different national courts." (Kerr) On the other hand, incomplete or otherwise defective arbitration clauses can result in multiple proceedings in which the scope
but are private persons selected by the parties. Third, arbitration produces a definitive and binding award, which is capable of enforcement through national courts.
Submitted by becky126nc on August 29, 2005
Category: Business
Words: 594 | Pages: 3
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First off, I do not think that binding arbitration clauses should ever restrict the arbitration to only one group of people (ex. Home builders association). If there ever is a situation in which a binding arbitration clause is acceptable, there should at least be a choice of who the arbitration is and the choices should be neutral parties (ex. In the BP credit card bill stuffer, it gave the option of the American Arbitration Association, JAMS, and the National Arbitration Forum). I do not think that binding arbitration clauses should be includable in employment contracts. There are too many laws and regulations regarding employers and the way businesses operate the I do not think an arbitrator would be anywhere near as knowledgeable in these matters as a court would be, even if it was their area of expertise. Between discrimination and work conditions, I feel that there is way too much at stake to put in the hands of an arbitrator. I do think that binding arbitration clauses can (not should, but CAN) be includable in credit card agreements and cell phone agreements. I really do not think that binding arbitration clauses should be included in any kind of contract because the severity of charges can vary so much that the courts can decide which cases can be arbitrated. In both credit card and cell phone contracts, the majority of cases will only deal with small amounts of money. In contrast, there is so much at stake with home construction, that I do not think that construction contracts are an appropriate place for such clauses. I consider myself a pretty compassionate person. Therefore, I do not think that there should be ANY prerequisite to obtaining medical treatment, especially signing a contract with a binding arbitration clause.
I believe that every contract should have the option to be enforced by the courts. Arbitration should be something that parties agree to, not something they are forced into. I think that including a binding...
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