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Microcap & Penny Stocks : Amazon Natural (AZNT) -- Ignore unavailable to you. Want to Upgrade?

To: s martin who wrote (5005)	9/13/1998 1:44:00 AM
From: Jeffrey S. Mitchell	Read Replies (2) \| Respond to of 26163

Smartin, last week I had a nice chat with the case administrator for the WellRich vs AZNT case who works for the American Arbitration Association (AAA). I just wanted to confirm with him what I had been told by WellRich as to how arbitration works. I thought I'd share it with you. Let me know if your friend finds any fault with what I am saying. The first thing I did was check out the AAA's website at adr.org. I was quite confused by all the various types of arbitration they offered. The admin pointed out to me that different industries and different circumstances within industries dictate how arbitration cases are handled. Thus, just because you've been through one type of arbitration doesn't mean your experience necessarily applies to any of the others. In most cases, as happened between AZNT and WellRich, the two parties agreed ahead of time to binding arbitration to settle any disputes, and stipulated that the AAA would be the arbitrator. This is important because it means WellRich was not required to sue AZNT (i.e. serve them any court papers) to get them to arbitrate. Had AZNT not attended, they simply would have forfeited. As for fees, since, again, the two parties had made a prior agreement to use the AAA, they were obligated to each pay half. FYI, had one sued the other, then the Claimant would have been responsible for the whole fee. In the WellRich-AZNT case, AZNT either neglected or was unable to pay so WellRich had to cover for them it assure the case went on as scheduled. The AAA warns you ahead of time to come prepared to pay for the other party as this must happen often with companies that know they are going to lose and just figure there's no reason to pay. I asked whether the arbitrator had to be an attorney for a legally binding decision. He said "no", but they usually are. Typically what happens is the arbitrator makes a decision and then the winner goes to court to get that turned into a legally binding judgment. This is usually a formality. The important thing to note is that an arbitration hearing is not a lawsuit even though the judgment is ultimately legally binding in most cases. To get the judgment legally binding, you fill out a form and submit the ruling to a judge. It's at that point you get a legal case number and the verdict is on file with the applicable clerk, just like any other case tried in court. - Jeff