More In This Category
View Transcript
An arbitration agreement is a contract between an employee and an employer where the employee says, “I give up my right to go to court, and in exchange for that, we will go to arbitration,” usually under the American Arbitration Rules or some other arbitration association. And the benefit to the employee is you usually get a faster and sometimes less expensive result in arbitration. You don’t go through sometimes the expense of discovery and depositions, although you can do that in arbitration setting as well.
So, some employers like arbitration agreements because they are quicker and more cost-effective than going to court, and some employers don’t like it because if you get a bad result, you don’t have the appellant court to take another look at it.
Contact Greg Stenmoe
Email This Lawyer
(612) 977-8448
See All This Lawyer's Videos
Visit Lawyer's Website
Minneapolis employment law attorney Greg Stenmoe defines an arbitration agreement.