American Arbitration Association Issues Rule Update for Commercial Arbitration

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American Arbitration Association Issues Rule Update for Commercial Arbitration

by Robert Levy on September 12, 2013

The American Arbitration Association (AAA), which handles over 100,000 disputes each year, recently issued revisions to its Commercial Arbitration Rules. The changes take effect on October 1, 2013.

According to the AAA, the changes are intended to “directly address preferences of users for a more streamlined, cost effective, and tightly-managed arbitration process that avoids the high costs of litigation.” They are the product of over three years of internal and external research.

The most significant rule change involves the addition of mediation. While any party can opt out of the mediation process at any time, all cases with claims in excess of $75,000 will be required to mediate their dispute at some time during the arbitration process.

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Published In: Bankruptcy Updates, Finance & Banking Updates, Intellectual Property Updates, Mergers & Acquisitions Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Robert Levy, Scarinci Hollenbeck, LLC | Attorney Advertising

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