Arbitrate Definition For English In Bexar
Category:
State:
Multi-State
County:
Bexar
Control #:
US-00416-1
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement serves as a formal contract between a purchaser and a retailer of a manufactured home, outlining the terms by which any disputes associated with the sale or financing of the home will be resolved through arbitration rather than in court. This agreement emphasizes that it is governed by the Federal Arbitration Act and is binding on all parties involved, including successors and assigns. Key features of the form include instructions for initiating arbitration, specifying that claims under twenty thousand dollars will be arbitrated by a single arbitrator, while claims over this amount will involve a panel of three arbitrators. The notice to initiate arbitration must detail the claim and remedy sought and must be sent to both the retailer and the American Arbitration Association (AAA). Users are informed that this arbitration process excludes certain actions, such as the disposition of collateral securing payments under the contract. Moreover, the agreement clarifies that it waives the right to a jury trial or court trial, indicating that the rules for arbitration differ significantly from those in a judicial setting. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form to ensure that client disputes are handled efficiently and effectively, fostering a quicker resolution process compared to traditional litigation.
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