4 ms·

What does this mean?

teawrecks 4y ago
It means, should you ever want to sue them for something, now you can't. Instead, they just decide the outcome arbitrarily, and you have to accept it.
monksy 4y ago
They're changing the way that you can handle issues with them. Normally you have the right to sue an organization for wrong doing. (I.e. they stole money from you, they literally reached into your bank account and drained it, etc.. you know civil stuff) However, with arbitration.. the corporation can remove your right to do so and force this disagreement to be settled through an organization that they pay. It limits your rights, it limits the amount of money you get get back from the situation you encountered, and they do not have to abide by any normal laws sorrounding civil litigation. But hey, you typically don't pay as much as you would of a lawyer upfront. This isn't an action that people are consenting to.. it's something they're being forced into.. unless they follow a difficult procedure to do avoid it.
- relyks 4y ago
  Correct me if I'm wrong, but I believe it also means that a class-action lawsuit can't be started against Venmo
- thereisnospork 4y ago
  > be settled through an organization that they pay. This is a part I've never been quite clear on, do you know what governs venue selection for an arbitration? e.g. why their arbitrator and not my arbitrator?
  - eesmith 4y ago
    It's through the American Arbitration Association. https://en.wikipedia.org/wiki/American_Arbitration_Association https://en.wikipedia.org/wiki/American_Arbitration_Associati... . > The AAA does not itself arbitrate disputes, but provides administrative support to arbitrations before a single arbitrator or a panel of three arbitrators. Under its rules, the AAA may appoint an arbitrator in some circumstances, for example, where the parties cannot agree on an arbitrator or a party fails to exercise its right to appoint an arbitrator. The AAA has a "National Roster of Arbitrators". The AAA appoints an arbitrator from this roster. https://www.adr.org/sites/default/files/Consumer_Rules_Web_2.pdf https://www.adr.org/sites/default/files/Consumer_Rules_Web_2... R-15 and R-16. See https://en.wikipedia.org/wiki/Forum_(alternative_dispute_resolution)#Controversy https://en.wikipedia.org/wiki/Forum_(alternative_dispute_res... for why that alone doesn't ensure impartiality.
MichaelBurge 4y ago
If you don't opt out, you lose your right to sue Venmo in court. Or at least, you have to pay a lawyer $500/hour to first argue for your right to sue in court, before you can even begin your lawsuit.

It means, should you ever want to sue them for something, now you can't. Instead, they just decide the outcome arbitrarily, and you have to accept it.

monksy 4y ago

They're changing the way that you can handle issues with them. Normally you have the right to sue an organization for wrong doing. (I.e. they stole money from you, they literally reached into your bank account and drained it, etc.. you know civil stuff) However, with arbitration.. the corporation can remove your right to do so and force this disagreement to be settled through an organization that they pay. It limits your rights, it limits the amount of money you get get back from the situation you encountered, and they do not have to abide by any normal laws sorrounding civil litigation. But hey, you typically don't pay as much as you would of a lawyer upfront. This isn't an action that people are consenting to.. it's something they're being forced into.. unless they follow a difficult procedure to do avoid it.

relyks 4y ago
Correct me if I'm wrong, but I believe it also means that a class-action lawsuit can't be started against Venmo
thereisnospork 4y ago
> be settled through an organization that they pay. This is a part I've never been quite clear on, do you know what governs venue selection for an arbitration? e.g. why their arbitrator and not my arbitrator?
- eesmith 4y ago
  It's through the American Arbitration Association. https://en.wikipedia.org/wiki/American_Arbitration_Association https://en.wikipedia.org/wiki/American_Arbitration_Associati... . > The AAA does not itself arbitrate disputes, but provides administrative support to arbitrations before a single arbitrator or a panel of three arbitrators. Under its rules, the AAA may appoint an arbitrator in some circumstances, for example, where the parties cannot agree on an arbitrator or a party fails to exercise its right to appoint an arbitrator. The AAA has a "National Roster of Arbitrators". The AAA appoints an arbitrator from this roster. https://www.adr.org/sites/default/files/Consumer_Rules_Web_2.pdf https://www.adr.org/sites/default/files/Consumer_Rules_Web_2... R-15 and R-16. See https://en.wikipedia.org/wiki/Forum_(alternative_dispute_resolution)#Controversy https://en.wikipedia.org/wiki/Forum_(alternative_dispute_res... for why that alone doesn't ensure impartiality.

MichaelBurge 4y ago

If you don't opt out, you lose your right to sue Venmo in court. Or at least, you have to pay a lawyer $500/hour to first argue for your right to sue in court, before you can even begin your lawsuit.