pmccravitz Posted March 28, 2012 Report Posted March 28, 2012 Here's the clause:21. ARBITRATION PROVISION. Please read this arbitration provision carefully. IT PROVIDES THAT ANY PAST, PRESENT OR FUTURE LEGAL DISPUTE OR CLAIM OF ANY KIND, INCLUDING STATUTORY AND COMMON LAW CLAIMS AND CLAIMS FOR EQUITABLE RELIEF, THAT RELATES IN ANY WAY TO YOUR ACCOUNT, CARD OR YOUR RELATIONSHIP WITH US (“CLAIM”) WILL BE RESOLVED BY BINDING ARBITRATION IF EITHER YOU OR WE ELECT TO ARBITRATE.Right to Reject Arbitration: You may reject this arbitration provision, in which event neither you nor We will have the right to require arbitration. Rejection will not affect any other aspect of these terms. To reject the arbitration provision, you must send Us a notice within 60 days after you open your Account. The notice must include your name, address, and Account number and be mailed to P.O. Box 981439, El Paso, TX 79998-1439. This is the only method you can use to reject the arbitration provision. As used in this provision: “We,” “Us,” and “Our” mean (1) GE Money Bank and all of its respective parents, subsidiaries, affiliates, predecessors, successors, assigns, employees, officers and directors (collectively, the “Bank”), and (2) Retailer/Merchant/Dealer and all of its respective parents, subsidiaries, affiliates, predecessors, successors, assigns, employees, officers and directors.This arbitration provision covers all Claims, except that We will not elect to arbitrate an individual Claim brought by you in small claims court or its equivalent, unless that Claim is transferred, removed, or appealed to a different court. This provision replaces any existing arbitration provision between you and Us.With respect to any arbitration:• Notice: If you or We elect to arbitrate, the other party must be notified. Your notice must be sent to GE Money Bank, Legal Operation, 950 Forrer Boulevard, Kettering, OH 45420. Notice can be given after a lawsuit has been filed, in which case it can be made in papers in the lawsuit.• Administrator: The person who starts the arbitration proceeding must choose an administrator, which can be either JAMS, 620 Eighth Avenue, 34th Floor, New York, NY 10018, JAMS Arbitration, Mediation, and ADR Services, (800) 352-5267; or the American Arbitration Association, 1633 Broadway, 10th Floor, New York, NY 10019, American Arbitration Association, (800) 778-7879. The actual arbitrator will be selected under the administrator’s rules, and must be a lawyer with at least ten years of experience.• Applicable Law: These terms involve interstate commerce and this arbitration provision is governed by the Federal Arbitration Act, 9 U.S.C. §§ 1 et seq. (the “FAA”). Utah law shall apply to the extent state law is relevant under Section 2 of the FAA in determining the validity of this provision. The arbitrator has to follow: (1) the substantive law, consistent with the FAA, that would apply if the matter had been brought in court, (2) this arbitration provision, and (3) the administrator’s rules. The arbitrator is authorized to award remedies that would apply if the individual action were in a court (including, without limitation, punitive damages, which shall be governed by the constitutional standards employed by the U.S. Supreme Court). The arbitrator has no authority to conduct an arbitration on a class action basis or to make an award to, on behalf of, or against, any person who is not a named party to the arbitration.• Location/Fees: The arbitration will take place in a location reasonably convenient to you. If you ask Us, We will pay all filing, administrative, hearing and/or other fees the administrator or arbitrator charges up to $2,500. If the cost is higher, you can ask Us to pay more and We will consider your request in good faith. Under all circumstances We will pay all amounts We are required to pay under applicable law.• Judgment/Appeals: Any court having jurisdiction may enter judgment upon the arbitrator’s award. The arbitrator’s decision will be final and binding except for: (1) any appeal right under the FAA; and (2) any party may appeal decisions relating to Claims of more than $100,000 to a three-arbitrator panel appointed by the administrator, which will reconsider all over again any aspect of the appealed award. If you appeal, We will consider in good faith a request that We pay any additional fees of the administrator or arbitrator.IMPORTANT LIMITATIONS AND RESTRICTIONS: IF A CLAIM GOES TO ARBITRATION, NEITHER YOU NOR WE WILL HAVE THE RIGHT TO: (1) HAVE A COURT OR A JURY DECIDE THE CLAIM; (2) ENGAGE IN DISCOVERY (I.E., THE RIGHT TO OBTAIN INFORMATION FROM THE OTHER PARTY) TO THE SAME EXTENT THAT YOU OR WE COULD IN COURT; (3) PARTICIPATE IN A CLASS ACTION IN COURT OR IN ARBITRATION, EITHER AS A CLASS REPRESENTATIVE OR A CLASS MEMBER; (4) ACT AS A PRIVATE ATTORNEY GENERAL IN COURT OR IN ARBITRATION; OR (5) JOIN OR CONSOLIDATE CLAIMS(S) WITH CLAIMS OF ANY OTHER PERSON. THE RIGHT TO APPEAL IS MORE LIMITED IN ARBITRATION THAN IN COURT. OTHER RIGHTS THAT YOU OR WE WOULD HAVE IF YOU OR WE WENT TO COURT MAY ALSO NOT BE AVAILABLE IN ARBITRATION. ONLY A COURT MAY DETERMINE THE VALIDITY AND EFFECT OF PARTS 3, 4 AND 5 OF THIS PARAGRAPH. IF A COURT SHOULD HOLD SUCH PART(S) TO BE INVALID, THEN THE ENTIRE ARBITRATION PROVISION SHALL BE NULL AND VOID. HOWEVER, THIS WILL NOT LIMIT THE RIGHT TO APPEAL SUCH HOLDING. IF A COURT SHOULD HOLD ANY OTHER PART(S) OF THIS ARBITRATION PROVISION TO BE INVALID, THE REMAINING PARTS SHALL BE ENFORCEABLE. IN NO EVENT SHALL THE INVALIDATION OF ANY PART OF THIS ARBITRATION PROVISION HAVE THE EFFECT OF AUTHORIZING AN ARBITRATOR TO MAKE AN AWARD TO, ON BEHALF OF, OR AGAINST, ANY PERSON WHO IS NOT A NAMED PARTY TO THE ARBITRATION.This arbitration provision will survive the termination of your Account and the Card and will remain in force no matter what happens to you or your Account. In case of any conflict or inconsistency, this Agreement controls over any rules and procedures of the arbitration administrator.
pmccravitz Posted March 28, 2012 Author Report Posted March 28, 2012 My first question is this:I'm going to send the JDB lawyers a letter electing arb (below). Is this sufficient?NOTICE OF ARBITRATION ELECTIONNOTE: This letter is not acknowledgment of Liability for debts.Pursuant to GE Money Bank cardholder agreement (attached) of the alleged account, I ELECT arbitration via JAMS to resolve all of our disputes.As per the agreement of the alleged account, any dispute regarding this account, “…will be resolved by binding arbitration if either you or we elect to arbitrate…”The agreement further states that upon arbitration election "...Neither you nor we will have the right to: (1) Have a court or a jury decide the claim…"As of this notice you must dismiss or stay any and all actions in regards to the alleged debt pending the result of the Arbitration.
Cliff2009 Posted March 28, 2012 Report Posted March 28, 2012 My first question is this:I'm going to send the JDB lawyers a letter electing arb (below). Is this sufficient?NOTICE OF ARBITRATION ELECTIONNOTE: This letter is not acknowledgment of Liability for debts.Pursuant to GE Money Bank cardholder agreement (attached) of the alleged account, I ELECT arbitration via JAMS to resolve all of our disputes.As per the agreement of the alleged account, any dispute regarding this account, “…will be resolved by binding arbitration if either you or we elect to arbitrate…”The agreement further states that upon arbitration election "...Neither you nor we will have the right to: (1) Have a court or a jury decide the claim…"As of this notice you must dismiss or stay any and all actions in regards to the alleged debt pending the result of the Arbitration.You want to do this strategy properly. Read up on it here, these people have it nailed down. Don't just send off letters without a lot of research.ArbitrationLook for the posts from Nightfever on that site.
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