The CFPB introduced its rule in July after conducting a five - year long study of mandatory
arbitration agreements starting in 2010.
According to the legislation, if a party to
an arbitration agreement starts a lawsuit instead of proceeding with an arbitration, the Court will stay that proceeding upon motion brought by the other party to the arbitration agreement.
Not exact matches
Starting next year, borrowers won't be forced to settle disputes with their college through forced
arbitration agreements.
2014 has
started with a bang from an
arbitration perspective with the decision in S v S [2014] EWHC 7 (Fam), [2014] All ER (D) 63 (Jan), involving the conversion of an
arbitration award to a financial consent order and comments from Sir James Munby that «an arbitral award is surely of its nature even stronger than a simple
agreement between the parties» and «the judge will not need to play the detective unless something leaps off the page to indicate that something has gone so seriously wrong in the arbitral process as fundamentally to vitiate the arbitral award».
Before deciding to incorporate
arbitration clauses into employment
agreements, employers should consider the costs and benefits from multiple angles, from the
start of the process to the potential conclusion, to determine whether it is the appropriate strategic choice for the company.
The court in Kanda Franchising
started with the premise that the interpretation of the scope of an
arbitration agreement is a question of mixed fact and law, as set out by the Supreme Court of Canada in Sattva Capital Corp. v Creston Moly Corp..
● A claimant
starting court proceedings because he considered that an
arbitration agreement was invalid or inapplicable would be denied access to the national court were an ASI granted.
There is a risk that parties to
arbitration agreements will
start foreign EU court proceedings in response to London
arbitration proceedings, resulting in extra legal costs and management time being incurred (certain EU domestic court regimes are notoriously slow and inefficient).
The party
starting the
arbitration may be lulled into a false sense of security by the
arbitration agreement and may be unaware of the formalities and the choices that are inherent in the arbitral process.