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In contract law, an arbitration clause is a clause in a contract that requires the parties to resolve their disputes through an arbitration process. Although such a clause may or may not specify that arbitration occur within a specific jurisdiction, it always binds the parties to a type of resolution outside the courts, and is therefore considered a kind of forum selection clause.
A "naked" class action waiver is a version of the waiver where the contract in which the waiver is found is not attached to an arbitration agreement. Class action waivers are only protected from state legislatures' actions through the Federal Arbitration Act, if they are bundled with an agreement to send disputes to arbitration.
Nowadays many countries have adopted arbitration laws based on the UNCITRAL Model Law on International Commercial Arbitration. This works with the New York Convention so that the provisions on making an enforceable award, or asking a court to set it aside or not enforce it, are the same under the Model Law and the New York Convention.
Arbitration, in the context of the law of the United States, is a form of alternative dispute resolution.Specifically, arbitration is an alternative to litigation through which the parties to a dispute agree to submit their respective evidence and legal arguments to a third party (i.e., the arbitrator) for resolution.
Doctor's Associates, Inc. v. Casarotto, 517 U.S. 681 (1996): Montana law requiring disclosure of arbitration clauses to be "typed in underlined capital letters on the first page of the contract" preempted by FAA; [1] however, upheld authority of courts to refuse to enforce arbitration clauses on grounds of "generally applicable contract ...
In July 2009, the AAA stopped accepting consumer debt collection cases, after the National Arbitration Forum was forced to do so after questions arose about the fairness of its process. [3] In April 2013, the New York State Department of Financial Services hired the AAA to host mediation sessions between insurance companies and Hurricane Sandy ...
The New York Convention, more formally known as the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards, provides for court recognition and enforcement of foreign arbitration decisions, allowing arbitration proceedings to piggyback on the authority of domestic jurisdictions across the world.
In addition, NYIAC organizes educational events and focuses on advancing and promoting international arbitration in New York by inviting practitioners to be involved. [1] It is located in New York City. [2] The center was established following a recommendation by a task force of the New York State Bar Association ("NYSBA") in 2011. [3]