With all big companies seemingly colluding to update their terms of service at the same time recently to include something about “ARBITRATION” – can someone please explain what this Arbitration agreement is?

Question

With all big companies seemingly colluding to update their terms of service at the same time recently to include something about “ARBITRATION” – can someone please explain what this Arbitration agreement is?

In: Other

Answer 1

Arbitration is basically suing them for something. They’re trying to make you promise you won’t sue, or waive your right to sue, or something to that effect. Not all of it works, and not all of it is legal, but that won’t stop them from trying just in case it pays off.