What is Arbitration?
If a borrower does not make payments as required by the terms of the loan, a Notice of Default will be sent to the borrower. Simultaneously, the investors will receive a letter to encourage finding a solution. If the Default remains uncured for 90 calendar days, the entire loan will be sent to our arbitration partner, net-ARB.com. Net-ARB is an independent firm, having no ties to BTCjam.com or any of its officers.
Our arbitration partner, net-ARB, will review the loan terms, certify default and issue an Award in favor of the investor(s) for the full amount still owed. The Arbitration Award is binding and cannot be appealed. This Award may be used to procure a judgment against the borrower in a court of law. (Net-ARB will provide the investor(s) with all other information necessary to pursue a judgment).