Am I bound by an arbitration clause included in a preprinted contract, such as for a new car or for health insurance coverage?
Yes, in most states. It is NOT necessary that the arbitration clause be specifically negotiated – if it is part of the contract you agreed to, it is binding.
In fact, arbitration clauses are now standard in many types of agreements, including those used to resolve broker disputes in the securities industry and policyholder claim disputes with health insurance and HMOs.
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