Arbitrage Definition And Synonyms In Riverside
Category:
State:
Multi-State
County:
Riverside
Control #:
US-00416-1
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement serves to define how disputes related to the sale and purchase of manufactured homes are to be resolved through binding arbitration under the Federal Arbitration Act. This agreement is designed to facilitate resolution among purchasers, retailers, and manufacturers, creating a streamlined process to handle claims regarding the home’s sale or related financing. Key features include the requirement for a written notice of arbitration initiation and the stipulation of the arbitration process being administered by the American Arbitration Association, following specific rules based on the claim amount. For claims under twenty thousand dollars, a single arbitrator will adjudicate, whereas claims exceeding this amount will involve a panel of three. The agreement also emphasizes the waiver of jury trials, shifting to an arbitration-focused approach for resolving disputes. Users such as attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form to ensure the parties involved understand their rights and the processes affected by arbitration, facilitating a more efficient resolution without resorting to courtroom litigation.
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