Manditory Nonbinding Arbitration

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    Profile photo of the economist
    the economist
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    Now I am told that Mr. Acardies board spent $36,000 last year on a lawyer not to fight a lawsuit but to avoid “Manditory Nonbinding Arbitration” over the installation of the concrete brick pavers in the parking lot without a 75% vote for the project as required by our bylaws.

    This is the type of Insane expenditure that has worried me personally. What did they not understand in the Florida condo law about the words “Manditory Nonbinding Arbitration?

    Yes our insurance paid $30,000 but why did it cost anything? Arbitration is Manditory. It is nonbinding. And is required before a lawsuit can be filed. It is not a lawsuit.

    This was a stupid use of resources that accomplished nothing.

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