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 Fairfax
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State:
Multi-State
County:
Fairfax
Control #:
US-00416-1
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It is a system of redress which provides an independent mechanism to resolve consumer-business disputes when other means fail. Insurance arbitration relies upon an arbitrator (the neutral third party) to make an appropriate decision based on the specifics of a claim or case.The Consumer Affairs Branch assists consumers through advice inquiries, mediation and arbitration. Insurance contracts issued for delivery within Virginia cannot contain binding arbitration agreements under Virginia law. Arbitration is the process of using a third party to settle a dispute instead of taking the case to court.