New Jersey Agreement to Arbitrate Online
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How to fill out Agreement To Arbitrate Online?
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FAQ
Arbitration is a method of alternative dispute resolution in which a dispute is submitted to an impartial third person (arbitrator). The arbitrator is selected directly by the parties. When the parties submit to arbitration, they agree to be bound by and comply with the arbitrators' written decision.
Who Can Arbitrate Disputes? Arbitration can be voluntary (the parties agree to do it) or mandatory (required by law). Most contract arbitration occurs because the parties included an arbitration clause requiring them to arbitrate any disputes "arising under or related to" the contract.
Only when both parties agree, it becomes mandatory for the parties to choose arbitration and therefore, there is no other option except referring their dispute to arbitration. This rule has a downfall since it forces one of the parties to use arbitration in order to resolve their dispute.
Arbitration is mandatory statewide for civil cases involving automobile negligence, personal injury, contracts and commercial matters, products liability and personal injury protection suits against one's own insurance carrier for unpaid insurance benefits.
Yes: New Jersey Statutes as well as New Jersey case law have specifically held that binding arbitration clauses that meet the disclosure requirements under the law are enforceable and the parties must submit their dispute to an Arbitrator for final decision.
As a form of alternative dispute resolution, arbitration proceedings can either be binding or non-binding. The former simply means the decision is final and enforceable, while the latter that the arbitrator's ruling is advisory and can only be applied if both parties agree to it.
In a 5-1 ruling, the NJSC reversed that decision. Both federal and state law provide that arbitration agreements are presumed to be enforceable and irrevocable, unless a party can show a ground that exists at law or in equity for the revocation of a contract. 9 U.S.C. § 2, N.J. Rev. Stat.
A recent New Jersey case warns that arbitration clauses in real estate contracts are enforceable only if they specifically state that the parties are waiving their right to sue in court and that arbitration is the parties' sole remedy for disputes.
Relied on Section 35 of the Indian Stamp Act, which explicitly prohibits the court from acting on an unstamped instrument, the Supreme Court held that the arbitration agreement in an instrument not stamped is invalid and enforceable until the stamp duty and penalty being paid.