NCIA’s Service Solutions series is our sponsored content webinar program which allows business owners the opportunity to learn more about premier products, services and industry solutions directly from our network of established suppliers, providers and thought leaders.
In this edition originally aired on Wednesday, June 28, 2022 we were joined by the International Institute for Conflict Prevention and Resolution (CPR) to discuss the benefits of using alternative dispute resolution (ADR) methods (including arbitration and mediation) in cannabis contracts, thus bypassing the courts.
The cannabis industry continues to grow rapidly, both in the United States and globally. However, cannabis companies face issues when entering into contracts that they hope to enforce. Because the federal Controlled Substances Act prohibits cannabis sales as a matter of federal law, many courts will not enforce a contract between cannabis companies, even if state law permits the legal sale of cannabis. Therefore, cannabis investors, businesses, and those who do business with them need a tool that makes their contracts enforceable.
Benefits of using ADR methods include greater enforceability plus faster speed to a decision, decision-makers with industry expertise, privacy and confidentiality, and the parties’ ability to create a process to fit specific needs and timelines. Participants will also learn how to include an ADR clause in their contracts, so they can take advantage of these benefits.
Vice President of Global Development for Dispute Resolution
International Institute for Conflict Prevention and Resolution (CPR)
President @Copple & Associates PC
Want to know more about the products and services offered by International Institute for Conflict Prevention? Head to https://www.cpradr.org/dispute-resolution-services to learn more today!