1 / 6

ARBITRATION

ARBITRATION. When you´re making a business deal , it´s always wise to read the small print i your contract . Companies often include mandatory arbitration clauses in their contract with suppliers and customers .

dai
Download Presentation

ARBITRATION

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. ARBITRATION

  2. Whenyou´remaking a businessdeal, it´salwayswise to readthesmallprinti yourcontract. Companiesoftenincludemandatoryarbitrationclauses in theircontractwithsuppliers and customers. Thismeansthatany disputes must be resolved through legal arbitration. Such a clausewillusuallyspecifywhether a legal arbitrationislegallybindingornot. Itmayalsoincludedetailssuch as thelocationforthearbitration and whopaysattorneyfees and courtcosts.

  3. Thisisgoodforthe Company, butitmaynot be goodforyou. Companieschoosearbitrationbecauseit´scheaper, faster and more flexible. Buttheremay be a number of disadvantages to theconsumerorsupplier. 1. Youwaiveyourrights to have a judge and jury decide the case. 2. Youmay be required to payprohibitive legal costs, and recovery of attorneyfeesmay be unavailable.

  4. 3. Thearbitration fórum maydependonthecorporationforrepeatbusiness. Thismeanstheymayhavean incentive to rule in their favor. 4. There are limitedavenuesfor appeal. Erroneousdecisionscannoteasily be overturned. 5. Awardsmay be fiercelyfought, resulting in hugelegal expenses.

  5. Overturnederroneousprohibitive limitedwaivespecifymandatory 1 Mary had no choice, payingthe fine was __________ 2 Thebank manager wouldnot ____________ thefee 3 The decisión onthematteris final and can´t be___________________ 4This informationis ______________ and must be corrected

  6. Overturnederroneousprohibitive limitedwaivespecifymandatory 5 Thecostswere so ____________ that Jacob couldn´tafford to pay 6 Thenumber of Jobs availableis____________, so finding a oneishard 7 Theclientdidnot____________ whichlawyer he wascallingfor

More Related