Fair Arbitration Act of 2007

Summary

Fair Arbitration Act of 2007 - Requires a contract containing an arbitration clause, in order to be binding on the parties, to: (1) have a heading "ARBITRATION CLAUSE" printed in bold, capital letters; (2) state explicitly whether participation in arbitration is mandatory or optional; (3) identify a source that a consumer or employee can contact for additional information regarding the arbitration program; and (4) provide notice that all parties retain the right to resolve a dispute in a small claims court for a claim of $50,000 or less. Entitles each party under arbitration to: (1) a competent, neutral arbitrator and independent, neutral administration of the dispute; (2) representation by an attorney or other representative at such party's expense; (3) a fair arbitration hearing; (4) a face-to-face hearing; (5) the right to present evidence and cross examine witnesses; (6) a written explanation of the basis for the arbitrator's decision; and (7) the right to opt out of binding arbitration and into the small claims court (for claims of $50,000 or less). Prescribes procedures for complaints by any party of denial of rights by the other party or the arbitrator.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 17 April 2007

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 17 April 2007

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• Introduced in Senate

  summary · EN · 17 April 2007

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