S.1135 - Fair Arbitration Act of 2007

A bill to amend chapter 1 of title 9, United States Code, to establish fair procedures for arbitration clauses in contracts. view all titles (2)

All Bill Titles

  • Short: Fair Arbitration Act of 2007 as introduced.
  • Official: A bill to amend chapter 1 of title 9, United States Code, to establish fair procedures for arbitration clauses in contracts. as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
04/17/07
 
 
 
 
 
 
 

Official 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)

Official 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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