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Unfair Arbitration Agreements (Specified Amount) Order (Northern Ireland) 1996
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- Northern Ireland Statutory Rules
- 1996 No. 598
- Explanatory Note
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Explanatory Note
(This note is not part of the Order.)
This Order specifies the amount of £3,000 for the purposes of section 91 of the Arbitration Act 1996. Subsection (1) of that section provides that a term which constitutes an arbitration agreement is unfair for the purposes of the Unfair Contract Terms in Consumer Contracts Regulations 1994 (S.I. 1994/3159), which implement Council Directive 93/13/EEC on unfair terms in consumer contracts (O.J. No. L95, 21.4.93, p. 29), so far as the term relates to a claim for a pecuniary remedy which does not exceed the amount specified by order for the purposes of that section.
Section 89(1) defines “arbitration agreement” as an agreement to submit to arbitration present or future disputes or differences (whether or not contractual).
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