Do I Give Up Legal Rights By Agreeing To Binding Arbitration?



Do I Give Up Legal Rights By Agreeing To Binding Arbitration?

Generally you give up the constitutional legal rights to have your disagreement decided in court of law by a judge or a jury in the court system. Under a few limited circumstances, such as after-discovered bias on the part of the arbitrator, arbitrary and capricious decisions, or newly-discovered evidence, a party may ask the court to reconsider or overturn an arbitrator’s decision. Most arbitration awards are binding. There are some exceptions, for example, in workplace matters. You do not give up the right to bring your claim before the EEOC, which may choose to pursue the matter on its own.

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Binding Arbitration Legal Rights:

Arbitration is a non-voluntary alternative dispute resolution process. Unlike mediation, a knowledgeable, independent, and impartial third party is empowered to make a decision. The arbitrator hears the disagreement between one or more parties and after considering all relevant information renders a final decision in favor of one of the parties. Arbitration decisions may be either binding or non-binding, depending on the terms of the arbitration agreement. Binding arbitration decisions may be confirmed by a court and carry the same significance as a court judgment.


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Do I Give Up Legal Rights By Agreeing To Binding Arbitration?

Generally you give up the constitutional legal rights to have your disagreement decided in court of law by a judge or a jury in the court system. Under a few limited circumstances, such as after-discovered bias on the part of the arbitrator, arbitrary and capricious decisions, or newly-discovered evidence, a party may ask the court to reconsider or overturn an arbitrator’s decision. Most arbitration awards are binding. There are some exceptions, for example, in workplace matters. You do not give up the right to bring your claim before the EEOC, which may choose to pursue the matter on its own.