Forced Arbitration Clauses and Class Action Waiver Clauses are hidden in your everyday contracts and you probably don’t know. Together these clauses allow companies to act Fraudulently, Illegally, and in a Morally Reprehensible Manner but at the same time cover up their illegal conduct by forcing consumers into ‘secret’ arbitration tribunals:
Arbitration Waiver Clauses combined with Class Action Waiver Clauses are an Especially Dangerous Cocktail…..when combined together they allow Large Corporations to Steal Your Money by taking small amounts ….. and get away with it
For Example- if a large corporation takes $5 or $10 from each individual consumer (which we can all admit, and they know, we would not realistically sue a multi-million dollar corporation over $5, 10, or even $100 because it economically does not make sense). BUT when these large corporations take $5 or $10 from 1,000,000 individuals… This adds up to large profits that justify the risk of their illegal conduct.
Large Corporations are not dissuaded from this business model because- IF you stand up and sue them, they will try to force you to go to a secret tribunal called arbitration, and they will prevent you from representing other individuals who were also wronged by the same illegal conduct but may not know that the $5 or $10 extra was taken out of their paycheck.
HOW DO THESE COMPANIES HIDE THEIR FRAUD? Corporations use Arbitration to hide their Illegal Conduct by compelling you into ‘private arbitration tribunals’ – and on the same hand they use Class Action Waiver clauses in ~90% of the contracts that you sign- so you can never band together as a group of wronged individuals who each were defrauded $5; but in reality the damages against the corporation across the class of 1,000,000 individuals.
TLDR: Arbitration Clauses + Class Action Waivers [both are in 90% of the contracts you sign each day] = if a large company screws you on a deal, then you have to go to a secret tribunal that is normally funded by the large company, and no one else is allowed to fight on your side against the large corporation.
PETITION TO BAN FORCED CONSUMER/INDIVIDUAL ARBITRATION: