Compress Legal Virginia Arbitration Forms For Free

The statement to the Arbitration Committee is the only opportunity you have to make your case for the credit you are seeking. Much like the opening statement in a trial, your arbitration statement should lay out what the ?evidence? ? the written material ? will show regarding the proper credit on the project.

Arbitration is a consensual procedure This process can only happen if both parties have agreed to it. Should a future dispute occur involving the same parties under the contract, either of the disputing parties will insert an arbitration clause under the relevant contract.

A claimant initiates an arbitration by filing a statement of claim that specifies the relevant facts and remedies requested. A respondent responds to an arbitration claim by filing an answer that specifies the relevant facts and available defenses to the statement of claim.

This law provides that arbitration agreements are generally valid and enforceable. The major exception to this provision is that the arbitration agreement is not enforceable if it violates the general law of contracts ? which applies to all contracts under the law of the state that governs the agreement.

A written agreement to submit any existing controversy to arbitration or a provision in a written contract to submit to arbitration any controversy thereafter arising between the parties is valid, enforceable and irrevocable, except upon such grounds as exist at law or in equity for the revocation of any contract.

The parties each pay their own costs to conduct their case. Parties will likely not encounter all of the above costs on every case, and the amount of these costs, and which party must pay them, is different depending on the case and the rules that apply.