It's a doozy, isn't it? I envision a scenario that could go something like this:
Your money is never returned (which is quite possible since they have refused to return anyone's money so far). You complain and they say, OK. Let's go to arbitration. You arrive in Panama City from your home in Providence, RI. You walk into the aribitration hearing and the arbitration panel consists of Pedro, Mike Terrell and Theresa. lol
You lose and are told to give them a check for 25,000 US to pay for their lawyer. Under the terms of that agreement, it would all be something to which you had agreed beforehand. When you get home, you find out the IRS has levied a tax bill for the phantom earnings and has filed charges against you for tax evasion.
"(g) Choice of Law and Venue
I understand that this Agreement will be deemed to have been made in Panama City, Panama, and will be construed, and the rights and liabilities of the parties determined, in accordance with the laws of Panama. I agree that it is up to the sole discretion of the PDR Exchange to assign any legal or non-legal challenge or disagreement that I may have with the PDR Exchange to an arbitration panel, selected by the PDR Exchange, for review and out-of-court settlement, with all meetings to take place in Panama City, Panama, unless otherwise specified by the PDR Exchange. If it is concluded that the case must be taken to court, I agree that the venue will be Panama City, Panama, under the laws of Panama, and that I will be responsible for any and all costs or fees that have been addressed in, or result from any violation of, this Agreement."
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