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主题：Mandatory Binding Arbitratio -- pxpxpx
家园 Mandatory Binding Arbitratio As so often happens, I sign the agreements without reading through all the fine prints and "agree" on the items I may totally disagree. Later, I've noticed that, actually, in many contracts like credit cards, cars, insurance policies, even new homes, there are always some annoying clauses basically saying "waive your rights to sue me in the court".
For example, as per most of the Mandatory Binding Arbitration Clauses, when disputes arise between the two parties, they have to submit them to a board of arbitrators instead of the court. And the decision made by the arbitrators will be binding and final, which means it'd be almost impossible for anyone to appeal in any court.
To make it worse, basically, the biggest customers for those arbitrators are mostly business firms. And the average consumers usually wouldn't get into arbitration more than once in their entire lives. No wonder why the businesses always beat consumers during arbitration.
How absurd is this?!
In the coming week, I will have a chance to get some insights from a close friend. I'd share some tips with you if any.
家园 Little room to maneuver Just had a talk with an old friend.
As per him, the room for maneuver is little.
Most of the businesses will handle binding arbitration as "take it or leave it" clause in their contract. In other words, no arbitration, no deal!
But there are always ways to get around, at least in theory.
Given none of them is easy and affordable, I would rather suggest folks here to read the fine print while facing too big of a deal before sign on the dotted line.