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Arbitration Clauses Should Be Enforced According To Their Terms - Except When They Shouldn't Be: The Ninth Circuit Limits Parties' Ability To Contract For Standards Of Review Of Arbitration Awards - Kyocera Corporation V. Prudential-Bache Trade Services, Jonathan R. Bunch
Journal of Dispute Resolution
Arbitration is the process whereby parties submit disputes to a third, neutral party who will issue a decision that is both final and binding upon the parties. The Supreme Court has recognized arbitration as a valuable form of dispute resolution, with its primary advantages being speed, affordability, and the lower degree of hostility created by a less adversarial environment. In contrast to litigation, the standards of review for arbitral awards are defined in the Federal Arbitration Act (FAA) and are extremely narrow. In somewhat of a collision-course with the terms of the FAA is the fact that some courts have …