The American Arbitration Association® (AAA) today announced updates to its Mass Arbitration Supplementary Rules and Fee Schedules, which are designed to empower parties with a faster, more affordable and less adversarial path to resolving mass disputes.
"We've listened to the needs of individuals and businesses involved in mass arbitrations," said Christine Newhall, AAA's senior vice president of dispute resolution services. "These revised rules and fees reflect our deep expertise and are crafted to save time, reduce costs and foster constructive dialogue right from the start."
Key benefits of the updated rules and fees include:
- Streamlined Process: Virtual hearings are now the preferred method, leveraging technology for increased efficiency and accessibility.
- Early Resolution Opportunities: A flat Initiation Fee covers an administrative review of the filing, an administrative conference call with the AAA, and appointment of a Global Mediator and/or Process Arbitrator, facilitating quicker settlement analysis and discussions.
- Reduced Friction: New attestation requirements help ensure accurate filings and pleadings, minimizing delays and unnecessary complexities.
- Cost Predictability: Staged fees beyond the Initiation Fee provide transparent and manageable expenses as cases progress.
- Expert Guidance: Access to a skilled AAA Global Mediator at the outset empowers parties to explore amicable solutions with experienced guidance.
- Process Efficiency: An expanded Process Arbitrator role tackles potential hurdles early, allowing parties to focus on substantive issues.
"By combining a more efficient process with reasonable upfront costs and expert facilitation, we're helping parties resolve their disputes fairly, efficiently and affordably," said Neil Currie, AAA-ICDR vice president. For more information on the updated Mass Arbitration Rules and Fee Schedules, please visit https://go.adr.org/2024-mass-a....