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主题:Mandatory Binding Arbitratio -- pxpxpx

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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.

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