The bill amends several sections of the General Laws in Chapter 10-3, titled "Arbitration," to enhance the rights of parties involved in arbitration agreements. Key changes include the extension of the time frame for a party to apply for a stay of arbitration from twenty (20) days to one hundred-eighty (180) days. The bill specifies that arbitration agreements governed by 9 U.S.C. 1 through 16 are exempt from the provisions of this chapter. It also mandates that any provision of an agreement that discriminates against or penalizes a party for seeking legal representation in arbitration is null and void.

Additionally, the bill introduces new requirements for the drafting party regarding the payment of fees and costs in arbitration. If the drafting party fails to pay these fees within thirty (30) days after the due date, they will be considered in default, and the arbitration provider must send notice of default to the drafting party. If the drafting party fails to cure the default within fifteen (15) days after receiving the notice or to file an action in court or a motion in arbitration to challenge the validity of the arbitration filings or notice of default, they will be deemed in material breach of the arbitration agreement. The bill aims to provide greater protections and clarity for individuals involved in arbitration processes, particularly in employment and consumer contexts.