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Arbitration Clause

Discussion in 'Introduce Yourself to the Community' started by GmacK34, Feb 17, 2006.

  1. GmacK34

    GmacK34 Junior Member
    Messages: 4

    Hey whats up everyone. today in my law class we went over some arbitration stuff and one of the more interesting things we discussed was an arbitration clause. This is a clause which forces any issues into arbitration as apposed to finding your self in an instant lawsuit. Just thought I would throw it out there and see if anyone thought it was a good idea. I haven't researched it anymore and we only briefly went over it but maybe someone that uses it or knows more could elaborate. Just something to talk about while you all are waiting for more snow.
  2. ksgcapecod

    ksgcapecod Member
    Messages: 52

    Gmac, In my full time job in law enforcement I have been involved in arbitration cases. The involvement has been with contract negotiations, benefits, etc. It never has worked out in a real positive way. In a nut shell you have an independent arbitrator decide on which issues he believes should be awarded. Bottom line it all comes down to someones opinion. I don't think you want someone else telling you how to run your business, if you charged to much, if you didn't put enough sand/salt down, etc. I'm really not sure how you were thinking to use this clause in your contract but I would give the option to someone. I'll stand back and listen to feedback from others on the site.
  3. GmacK34

    GmacK34 Junior Member
    Messages: 4

    Sorry, I probably should have clarified more. I am not planning on using anything like this in any of my contracts, right now i dont have any contracts lol. I am relegated to plowing my own drive as well as my Girlfriends and my Grandmothers. I didnt get my equipment setup in time this year. Anyway as far as the clauses application, I just thought that it maybe something that some of the bigger guys use to protect allot of their assets if in fact anything should ever happen. My prof. explained it like this. You can expect to pay an attorney for 3-6 years to work on a case that goes to trial, or you can pay an attorney for 3-6 months to work on a case in arbitration. Also in court it is essentially a winner take all scenario. In arbitration while you may give up a little you could have less chance of losing everything. And again just some stuff to kick around. Perhaps this is only a clause which applies to large corporations that have the ability to throw around a couple million to get people off their back. I dunno just thought it was something interesting to talk about.