I admit I'm too lazy to Google, but are arbitration services regulated, so that if they flagrantly refused to rule in favor of a plaintiff in a case where (999/1000) lawyers would agree, can the arbitration service be sent to review the same way a doctor or lawyer could be disciplined? I can't imagine how you could legally sign over the right to sue to an agency that fails to apply basic principles of justice.
The standard is "manifest disregard of the law" - which, roughly speaking, means the arbitrator “understood and correctly stated the law but proceeded to ignore it.”
Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Bobker, 636 F. Supp. 444 (S.D.N.Y. 1986)
