The Illinois Arbitration Disclosure Statement is a document that must be signed by both parties before any arbitration proceedings can take place in the state of Illinois. It provides an overview of the arbitration process and outlines the rights and responsibilities of both parties. The statement also explains the advantages and disadvantages of arbitration, the cost of arbitration, and the binding nature of arbitration decisions. There are two main types of Illinois Arbitration Disclosure Statement: consumer and non-consumer. The consumer version is typically used when both parties are individuals, while the non-consumer version is used in business-to-business situations. Both forms must be signed before arbitration can take place.
The Illinois Arbitration Disclosure Statement is a document that must be signed by both parties before any arbitration proceedings can take place in the state of Illinois. It provides an overview of the arbitration process and outlines the rights and responsibilities of both parties. The statement also explains the advantages and disadvantages of arbitration, the cost of arbitration, and the binding nature of arbitration decisions. There are two main types of Illinois Arbitration Disclosure Statement: consumer and non-consumer. The consumer version is typically used when both parties are individuals, while the non-consumer version is used in business-to-business situations. Both forms must be signed before arbitration can take place.
