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 Insurance In Collin
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State:
Multi-State
County:
Collin
Control #:
US-00416-1
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Word;
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Insurance arbitration relies upon an arbitrator (the neutral third party) to make an appropriate decision based on the specifics of a claim or case. Arbitration is the process of using a third party to settle a dispute instead of taking the case to court.When a disagreement over a claim arises, arbitration is often utilized to resolve the conflict without having to go through the litigation process. When a car accident claim goes to arbitration, this means the parties involved are trying to seek a resolution without having to involve the court. What is Arbitration?