Quote:
Originally Posted by MRM
Arbitration clauses on bank accounts and credit cards aren't entirely bad. They can reduce the cost of litigating a small claim to the point that the card/account holder can afford to fight the case and get a fair shake wth a neutral arbitrator. The question is who appoints and pays for the arbitrator and is he really neutral.
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I agree. Arbitration is often a much faster, more efficient way to an agreement than the court system. The key is to get an impartial arbitrator, and make sure you have a say in who is chosen. There might be terminology in there such as "a mutually-agreed-upon arbiter", which would mean you'd have the right to decline if you didn't like who they chose.