Arbitration and the Surety

    Arbitration and the Surety

    Arbitration and the Surety

    A surety is often faced with arbitration to resolve a dispute involving its principal, oblige, or claimant. Providing a meaningful tool for the surety practitioner, this book examines all issues involving arbitration and the surety. Chapters also address the cost-effectiveness of arbitration, how the surety can control its costs and minimize the risk of an adverse decision, and a 50-state survey of whether a surety is bound by an arbitration award against its principal.

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    It is a growing trend that a surety's principal enters into an arbitration to resolve a dispute, or that the surety is faced with a demand that they agree to arbitrate disputes involving its principal, oblige, or claimants. Increasingly, sureties and surety counsel are faced with the need to assess the risk the surety may face by arbitration, either by participating in -- or refusing to participate in -- an arbitration wherein its principal is a party.

    This compendium offers a timely and meaningful tool to the surety practitioner in order to determine whether the surety should or must participate in an arbitration proceeding and what happens if the surety chooses not to do so. It examines whether the surety must participate as a named party and whether an arbitration award against its principal has a preclusive effect on the surety.

    In addition to thoroughly examining all the issues involving arbitration and the surety, the book also looks at the cost-effectiveness of arbitration as opposed to litigation and discusses measures the surety can take to control its costs, effective uses of arbitration to resolve disputes and proactive steps the surety can take to minimize the risk of an adverse decision. Furthermore, the book's authors and editors have compiled case law from all 50 states to better direct the surety practitioner’s actions when faced with arbitration.

    Topics include:

    • Issues, impacts, and ethical considerations
    • Scope and enforceability of arbitration clauses and requirements
    • Participation of the surety as a named partner
    • Enforcement of the arbitration award and limited rights of appeal
    • 50-state survey of res judicata and collateral estoppel effect upon the surety
    • Cost considerations and relative merits of arbitration
    • Effective use of arbitration and minimizing the risk of adverse decisions

    Product Details

    Publishers

    ABA Book Publishing

    ISBN

    9781641056571

    Page Count

    271

    Product Code

    5190560

    Trim Size

    6 x 9 Paperback

    Publication Date

    5/13/2020 12:00:00 AM

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