Arbitration

The video introduces arbitration as an alternative dispute resolution method, highlighting its advantages over traditional court proceedings, such as speed, cost-effectiveness, and expertise. It explains the consumer arbitration process, including the agreement to arbitrate, the role of arbitrators, and the binding nature of arbitral awards. The video also emphasizes consumer protection measures, such as transparency and legal representation, ensuring fairness and alignment with public policy. In conclusion, consumer arbitration is presented as a quick and efficient way to resolve disputes while safeguarding consumer rights.

What is one of the main benefits of arbitration over traditional court proceedings?

• It offers a faster resolution.

• It takes longer to resolve disputes.

• It is more expensive.

• It requires more legal representation.

What is the first step in the consumer arbitration process?

• Agreeing to arbitrate.

• Sending an arbitration notice.

• Presenting evidence and arguments.

• Appointing an arbitrator.

Who can initiate the arbitration process when a dispute arises?

• Only the seller.

• Either the buyer or the seller.

• A third-party mediator.

• Only the buyer.

What ensures that consumers understand the arbitration process and their rights?

• Lack of legal representation.

• Complex legal jargon.

• Arbitration decisions against public policy.

• Transparency in arbitration agreements.

What can courts do if an arbitral award violates consumer laws?

• Enforce the award regardless.

• Ignore the violation.

• Set aside the arbitral award.

• Increase the award amount.