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 With Example In Collin
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State:
Multi-State
County:
Collin
Control #:
US-00416-1
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Word;
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Arbitration is a method of dispute resolution where parties agree to submit their disagreements to an impartial third party, known as an arbitrator. Arbitration is the most traditional form of private dispute resolution.Arbitration is a binding procedure. Arbitrators are dispute resolution specialists that work outside of the United States court system.