This arbitration agreement is executed contemporaneously with, and as an Inducement and consideration for, an Installment or sales contract for the purchase of a manufactured home. It provides that all claims or disputes arising out of or relating in any way to the sale, purchase, or occupancy of manufactured home resolved by binding arbitration administered by the American Arbitration Association ("AAA") under its Commercial Arbitration Rules. This Agreement is an election to resolve claims, disputes, and controversies by arbitration rather than the judicial process. The parties waive any right to a court trial.
Arbitration Definition For Dummies In Broward
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Arbitration is the most traditional form of private dispute resolution. Arbitration is a binding procedure.Find the complete AAA's StepbyStep Guide to Arbitration Filing, covering all aspects of arbitration including ICSID and ICC, in English. Arbitration is a quicker and less expensive option than litigation. Should you be involved in a dispute, you will need an experienced arbitrator. Arbitration is an alternative to court proceedings to resolve a dispute. In court, both sides have lawyers and present cases to a jury that decides the matter.