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If you want to keep using Steam, accept it. If you continue to use Steam after November 1st, it's treated as you accepting the agreement. There is no way to continue using Steam under the conditions outlined by the previous SSA.
You'll be bound be the updated SSA.
No
Unless you really wanted arbitration over suing Valve, no.
Seems that way. I am in Germany and never got a notification alarm in the last few days.
Just read about it on the forums and the news post.
Steam is allowing users to sue them if Steam does something wrong as opposed to arbitration.
I myself was wondering what the angle was because they did this in the midst of every other company and their mother forcing arbitration agreements.
But apparently Steam is just doing the right thing.
As for you guys...
I'm guessing the arbitration clause was not on your SSA because a lot of the world has consumer laws in place preventing that sort of thing
Yeah, our SSA is based on the European Union Consumer Laws for Internet Purchases so it never included the same regulations as many of the other versions it seems.