Download
Download eBook for Free
| Format | File Size | Notes |
|---|---|---|
| PDF file | 2.2 MB | Use Adobe Acrobat Reader version 10 or higher for the best experience. |
Purchase
Purchase Print Copy
| Format | List Price | Price | |
|---|---|---|---|
| Add to Cart | Paperback62 pages | $13.00 | $10.40 20% Web Discount |
This monograph examines the use of private alternative dispute resolution (private ADR) by firms in the banking industry in response to a perceived liability crisis in the 1980's. The firms tested a procedure with which they were familiar, contractual arbitration provisions, initially in those contracts which were the source of the greatest liability concern and the most litigation cost. The firms stated that they were most interested in reducing the likelihood of punitive damages and eliminating the unpredictability of juries. Interviews indicate satisfaction with the private ADR program. Data collected from one firm show that the number of new cases filed against that firm in those areas, and the expected liability from these cases, declined after the introduction of the provisions. However, the actual funds paid for verdicts and settlements in these areas increased. Despite these conflicting results, the future for private ADR appears to be bright in this industry.
This report is part of the RAND Corporation Monograph report series. The monograph/report was a product of the RAND Corporation from 1993 to 2003. RAND monograph/reports presented major research findings that addressed the challenges facing the public and private sectors. They included executive summaries, technical documentation, and synthesis pieces.
This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit www.rand.org/pubs/permissions.
The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.