The document discusses the essentials of arbitration agreements. It states that arbitration agreements require parties to resolve disputes through a neutral third-party arbitrator instead of going to court. Contracts often include arbitration clauses that make this dispute resolution process mandatory if disagreements arise. While courts generally support arbitration, they may not enforce clauses if a party was not informed they were forfeiting their right to litigation or if the clause is presented unfairly. The document outlines some concerns about mandatory arbitration clauses preventing whistleblowing, limiting class action lawsuits, and relying on a single arbitrator's decision. It also discusses alternative dispute resolution options like mediation and escalating issues to senior management.

1. Name : Abirami.T
Roll number : 18UR01
Class : II B.COM “B”
Topic : Essentials of arbitration agreement
Subject : Business Law

3. Arbitration agreement essentials state that when parties don't
agree on a matter, they won't go to court to get their dispute resolved.
They go instead to an arbitrator as a way to get justice. The
arbitrator, who is a neutral third-party, makes a decision on what
happens in the matter. Arbitration agreements need to be in place
before disagreeing parties go into arbitration because arbitration
can't be forced.

4. Contracts usually establish agreements to arbitrate.
Provisions or clauses are included that state the involved
parties will settle the disagreement through arbitration,
should disagreements arise. If the contract contains an
arbitration clause, this method of conflict resolution is
non-negotiable.

5.  Laws at the U.S. federal and state levels support arbitration. If an
arbitration clause has been signed and a disagreement arises, the
court generally forces the parties to undergo arbitration. Sometimes,
however, courts won't enforce arbitration clauses. This happens
when:
 The person asked to sign the arbitration clause wasn't informed of
the fact that his or her rights to challenge disputes in court were
being forfeited, and that arbitration would be required.
 The arbitration clause is prepared and presented in an unfair
manner.

6.  Some people have noted concerns they have regarding mandatory arbitration
clauses. These concerns include the fact that:
 It prevents whistle-blowing that can enhance public safety. People who agree to
arbitrate can't expose wrongdoings in public due to the private nature of
arbitration. When the information never goes beyond arbitration, members of the
public don't have the opportunity to learn about any improper things a company
might have done.
 It separates the people who sign the agreements from the power they would
otherwise have to join a class-action lawsuit.
 It puts the decision in the hands of a single person because there's no jury to make
the decision.

7.  Basic arbitration isn't the only dispute resolution option available to
you. Tools you can use as you go through the arbitration process
include hiring a mediator, having the situation evaluated by a
neutral party early on, or even escalating the issue to senior
members of your company.
 To decide between the different tools that are available to you, you
need to have a clear understanding of the advantages and
disadvantages of each one. In some situations, combining the
available tools in a chosen order or at the same time can be your
best choice.

8. Resolving the dispute with the least amount of wasted
money is the main goal. As an example, if you go through
the arbitration tools that you select in the chosen
sequence, you would do the one that costs the least before
proceeding to the others. There can, however, be problems
as a result of this approach. This is especially true when
the conditions for having the case arbitrated have already
been met.

9.  Several dispute resolution entities exist to handle both domestic and
international disputes. Each arbitration provider has published a
set of regulations for resolving disputes that are conducted under its
authority. There are, however, wide variations between the rules of
the main arbitration providers. This adds to the importance
regarding the administrative body you choose.
 If you need help with an arbitration agreement, you can post your
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