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Tuesday, October 23, 2012

PAY PAL - Agreement to Arbitrate (Section 14.3)

PayPal recently posted a new Policy Update which includes changes to the PayPal User Agreement. The update to the User Agreement is effective November 1, 2012 and contains several changes, including changes that affect how claims you and PayPal have against each other are resolved. You will, with limited exception, be required to submit claims you have against PayPal to binding and final arbitration, unless you opt out of the Agreement to Arbitrate (Section 14.3) by December 1, 2012. Unless you opt out: (1) you will only be permitted to pursue claims against PayPal on an individual basis, not as a plaintiff or class member in any class or representative action or proceeding and (2) you will only be permitted to seek relief (including monetary, injunctive, and declaratory relief) on an individual basis.

I encourage you to review the above mentioned section of the Agreement to Arbitrate and make your own decision.  If you wish to OPT-OUT, this is how you do it: 
If you were a PayPal user prior to November 1, 2012 (i.e. registered a PayPal account before that date), to opt out of the Agreement to Arbitrate, you must mail an Opt-Out Notice to PayPal, Inc.,
Attn: Litigation Department,
2211 North First Street,
San Jose, CA 95131.

Your Opt-Out Notice must be postmarked no later than December 1, 2012 .

The Opt-Out Notice must state that you do not agree to the Agreement to Arbitrate and must include your name, address, phone number, and the email address(es) used to log in to the PayPal account(s) to which the opt-out applies. You must also sign the Opt-Out Notice for it to be effective.

Should you need further assistance, you are most welcome to call us at 402-935-2050 or888-221-1161 during these hours:

    * 4:00 AM PT to 10:00 PM PT, Monday–Friday
    * 6:00 AM PT to 8:00 PM PT, Saturday and Sunday

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