ADRworld.com reports that both houses of Congress have passed a bill that, if signed by the President, will add a new section on the use of arbitration agreements to Title II of the Packers and Stockyards Act (7 U.S.C. 198 et seq.).
The provisions will permit a producer or grower to opt out of arbitration before entering a contract, will require “conspicuous disclosure” of the grower’s right to decline to use arbitration to resolve disputes arising under the contract, and the provide the grower a right to opt into arbitration after a dispute arises if both parties agree in writing.
This bill, if enacted into law, will be a major victory for farmers and may portend positive results for the Arbitration Fairness Bill currently in front of Congress.