Arbitration Over Dispute In Maryland

• Category: Arbitration and Mediation
• State: Multi-State
• Control #: US-00416-2
• Format: Word; Rich Text

Description

The Arbitration Agreement outlines the process for resolving disputes in Maryland through binding arbitration. This Agreement is executed between two parties who agree to settle any claims or controversies in a manner specified within the document. Key features include the requirement for written notice to initiate arbitration, detailing the dispute and remedy sought. For claims below a designated dollar amount, a single impartial arbitrator will be assigned, while decisions made by the arbitrator are final and binding. The Agreement emphasizes that both parties waive their right to a jury trial, acknowledging that arbitration rules differ from court procedures. It also allows flexibility in determining fees, which can be assessed by the arbitrator or shared equally by the parties. The arbitration venue is decided by the arbitrator within the specified county in Maryland. This form is beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clearer alternative to court litigation, promotes efficiency in dispute resolution, and outlines the necessary procedural steps for implementing arbitration agreements effectively.