What is Mandatory Binding Arbitration?
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Published by TOP4 Team
Arbitration is a process that seeks to resolve disputes without formal legal action. A formal lawsuit, which can hold a consumer accountable, is replaced with a costly private justice system where high costs and abuse of the law have been clearly documented.
Arbitration is inherently biased and favours business, not consumers that are why it is used. Arbitrators are often on contract with businesses against consumers who have claims brought against them. By prearrangement, most companies can choose the arbitrator and venue of a dispute. Additionally, a professional arbitrator is motivated to rule in a way that will attract future company business to them.
The following are issues with the arbitration process:
• A single arbitrator or a panel, not a judge, decide disputes.
• Arbitrators are not required to have any legal training and need not follow the law.
• Arbitration disputes are secret and there is no right to public access.
• Their decisions may be legally incorrect.
• There is virtual no not to appeal to the consumer.
• Arbitrators make money from repeat business of the companies in arbitration.
• Court rules of evidence and procedure do not apply.
• Consumers are not entitled to the right of discovery or given due process.
• Forced arbitration violates your 7th amendment right to a trial by jury.
Consumers pay much more for arbitration proceedings than they would for a public court proceeding. Arbitration fees can range between several hundred and thousands of dollars per hour. This can be prohibitively expensive for a consumer who is already suffering from financial problems. Arbitration saves neither time nor money for the consumer.
Consult ArgyStar.com today, for any arbitration services you need!