Add Drop-down Field To Legal Arkansas Arbitration Forms For Free

Example 1. Arbitration. All claims and disputes arising under or relating to this Agreement are to be settled by binding arbitration in the state of [insert state in which parties agree to arbitrate] or another location mutually agreeable to the parties.

An arbitration agreement is a contract and can only bind, and be invoked by, those persons or entities that are party to the agreement. However, there are circumstances in which third parties, who were not parties to the original agreement, may either be bound by, or take the benefit of, an arbitration agreement.

First, any valid arbitration agreement must reflect the conscious, mutual and free will of the parties to resort to arbitration and not to other means of dispute resolution, including State courts. The consent of both parties to submit their dispute to arbitration is the cornerstone of arbitration.

In general, a Request for Arbitration or a Notice of Arbitration must contain the names of each of the parties, the names of the parties' representatives, a description of the dispute giving rise to claims, a statement of the relief sought, a description of the agreement containing the arbitration clause, the choice of ...

So do you want an arbitration clause in your contract? If you're a large corporation, you do. If you're contracting with someone around your own size, it's probably a good idea to have an arbitration clause because of the decreased attorney fees usually associated with arbitrations as compared to court cases.

All claims and disputes arising under or relating to this Agreement are to be settled by binding arbitration in the state of [insert state in which parties agree to arbitrate] or another location mutually agreeable to the parties. An award of arbitration may be confirmed in a court of competent jurisdiction.