He agreed in writing that should a dispute arise, they would use private arbitration.

But private arbitration is a whole other situation.

Other cases of private arbitration "where variable annuities were allegedly sold to people too old to realize any benefit before they died" were also reported.

They also say that state judges can be replaced with "private arbitration."

Now, customers who open accounts with brokerage firms typically sign "predispute arbitration agreements" requiring them to use private arbitration instead.

That dispute is being handled in a private arbitration and involves far less money, executives said.

They are also prohibited from representing clients in courtroom litigation, although they may represent clients in private arbitration.

Both sides agreed to have the case decided by private arbitration.

Some cases remain pending, but the remaining were dismissed, remanded to private arbitration, or "thrown out".

International arbitration is no more a transfer of sovereignty than private arbitration is an ousting of the jurisdiction of the courts.