S.4589

Limits consumer contract disputes to be resolved within New Jersey.

The bill mandates that any venue, forum, or jurisdiction terms in consumer contracts involving New Jersey residents must require dispute resolution within New Jersey. This applies unless waived by the consumer upon the advice of counsel. The provision aims to prevent consumers from being forced into costly and distant dispute resolutions. Exemptions exist for insurance companies licensed in New Jersey and eligible surplus lines insurers, allowing them to require arbitration outside the state. The act takes effect 90 days after enactment and applies to contracts executed thereafter.