I am writing to spread awareness of the Arbitration Fairness Act, Senate Bill 931, which could affect financial contracts in areas such as contracting, financial services, banking, real estate, mortgate brokers, car dealers, cable contracts, telecommunicatios, and even basic hiring.
This bill would render predispute arbitration clauses in contracts unenforcable. While many businesses large and small rely on arbitration as a cost effective and efficient means of solving minor disputes, this bill would open the door to more lawsuits in lieu of an arbitration system that has shown itself to be an effective means of solving business disputes.
Not only would this bill disallow the inclusion of mandatory predispute arbitration clauses, but it would also retroctively nullify such clauses in previously existing contracts by rendering them unenforcable. We need people in the the business community to take notice and stand against this antibusiness legislation.
This legislation is opposed by key groups such as the US Chamber, the International Franchise Association, and many others concerned with such issues. Please join them by contacting Senator Dianne Feinstein and urging her to vote no on this issue.
For more information, please contact us at ResponsibleLitigation@ Hotmail.com