H.R.3422 - Fairness and Voluntary Arbitration Act of 1996104th Congress (1995-1996)
|Sponsor:||Rep. Bono, Sonny [R-CA-44] (Introduced 05/09/1996)|
|Committees:||House - Judiciary|
|Latest Action:||05/29/1996 Referred to the Subcommittee on Commercial and Administrative Law. (All Actions)|
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Summary: H.R.3422 — 104th Congress (1995-1996)All Bill Information (Except Text)
Introduced in House (05/09/1996)
Fairness and Voluntary Arbitration Act of 1996 - Requires each party to a sales and service contract that provides for the use of arbitration in resolving controversies to have the option to reject arbitration as the means of settling a controversy.
Requires the arbitrator, whenever arbitration is elected to settle a dispute under such a contract, to provide the parties with a written explanation of the factual and legal basis for the award.