Protecting American Small Business Trade Act of 1998
The source supplies the latest action, but no lifecycle stage.
Latest action (21 Oct 1998): Read twice and referred to the Committee on Judiciary.
What this bill does
The Protecting American Small Business Trade Act of 1998, if enacted, would allow individuals and U.S. organized entities to bring legal actions in U.S. courts or seek relief from U.S. agencies. This applies to disputes arising from contracts, licenses, or other agreements made before July 1, 1985, with a foreign entity, even if those agreements contained clauses requiring arbitration.
This bill specifically affects individuals residing in the United States and entities like corporations or partnerships organized under U.S. law who entered into such agreements before the specified date. It aims to provide a legal avenue for resolving controversies that might otherwise be limited by arbitration provisions in older foreign agreements.
Currently, this bill has been introduced in the Senate and referred to the Committee on the Judiciary. The next step would involve the committee considering the bill, potentially holding hearings or proposing amendments. If passed by the Senate and then the House of Representatives, it would be sent to the President for signature. However, any action under this bill would need to be initiated within 180 days of its enactment.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
Protecting American Small Business Trade Act of 1998 -Provides that any person who has entered into a contract, license, or other agreement (contract) with a foreign entity before July 1, 1985, that contains a provision to settle any controversy by arbitration shall not be barred from bringing an action in any court of competent jurisdiction in the United States, including any Federal or State court, or from seeking appropriate relief from any U.S. agency to resolve any controversy. Requires actions to be brought under this Act before 180 days after its enactment.
Timeline
21 Oct 1998
Read twice and referred to the Committee on Judiciary.
Common questions
- What does S. 2654 do?
- The Protecting American Small Business Trade Act of 1998, if enacted, would allow individuals and U.S. organized entities to bring legal actions in U.S. courts or seek relief from U.S. agencies. This applies to disputes arising from contracts, licenses, or other agreements made before July 1, 1985, with a foreign entity, even if those agreements contained clauses requiring arbitration. This bill specifically affects individuals residing in the United States and entities like corporations or partnerships organized under U.S. law who entered into such agreements before the specified date. It aims to provide a legal avenue for resolving controversies that might otherwise be limited by arbitration provisions in older foreign agreements. Currently, this bill has been introduced in the Senate and referred to the Committee on the Judiciary. The next step would involve the committee considering the bill, potentially holding hearings or proposing amendments. If passed by the Senate and then the House of Representatives, it would be sent to the President for signature. However, any action under this bill would need to be initiated within 180 days of its enactment.
- Has S. 2654 become law?
- The source does not supply a confirmed lifecycle stage for S. 2654. Check the latest action and official source below.
- Who sponsored S. 2654?
- S. 2654 was sponsored by Sen. Torricelli, Robert G. [D-NJ] (D-NJ), with 0 cosponsors.
- What's the latest action on S. 2654?
- Read twice and referred to the Committee on Judiciary. (21 Oct 1998).
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