Using Arbitration For Dispute Resolution In Wake
Category:
State:
Multi-State
County:
Wake
Control #:
US-00416-2
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement is designed for parties who wish to resolve disputes through arbitration rather than traditional court processes in Wake. This agreement outlines the procedure for initiating arbitration, including how to provide written notice of intent and the selection of an arbitrator. It specifies that claims below a certain monetary threshold will be handled by a single, impartial arbitrator chosen by the parties involved. The arbitrator is responsible for issuing a final, binding decision along with a written summary of their reasoning. This Agreement also highlights the parties' waiver of rights to a jury trial, emphasizing the differences in rights and rules between arbitration and court proceedings. Additionally, it indicates that costs will be allocated as directed by the arbitrator or split equally if conditions are not specified. Target audiences, such as attorneys, partners, owners, associates, paralegals, and legal assistants will find this form essential for streamlining the dispute resolution process, ensuring clarity in arbitration terms, and preserving client relationships by avoiding lengthy court battles.
