Is Your Arbitration Clause Outmoded?

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Although arbitration is a “creature of contract” and many arbitrations proceed in the manner outlined in the arbitration clause, it is not unusual for the parties and their counsel to alter the terms of the original clause to suit the dispute at hand. Often a dispute has arisen years after the arbitration clause was drafted, and circumstances have changed. The clause may no longer be appropriate. Although the parties and their lawyers may have strong disagreements on the merits of the case, they understand that stipulating to a customized process that suits the dispute is a huge benefit to everyone involved. This flexibility is one of the strong points of the arbitration process.

The following suggestions are just a few of the ways to alter an

outmoded clause...

Originally published on Law.com on June 14, 2014.

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Published In: Alternative Dispute Resolution (ADR) Updates, General Business 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.

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