This Agreement is to insure that no dispute or controversy directly or indirectly concerning any matter relating to this Operating Agreement shall become the subject of court action, but that any dispute or controversy shall be presented to an Arbitration Panel, except as specifically set forth in this provision. The decision of the panel shall be final and binding as to all Parties and their privies without the right of appeal.
Oregon Arbitration
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Multi-State
Control #:
US-OG-694
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Word;
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FAQ
The parties must pay a pro-rata fee not to exceed $600.00 total to the arbitrator. They pay the arbitrator directly their share of the $600.00. The arbitrator is paid $100.00 per hour, not to exceed 6 hours per case. The arbitrator will refund the parties their share of the fee not used.
Where is forced arbitration commonly used? Forced arbitration is being written into more and more terms of agreement and contracts, including those used for employment, insurance, home-building, car loans and leases, credit cards, retirement accounts, investment accounts, and nursing facilities, to name a few.
An example of language generally contained in a mandatory arbitration clause is: ?All disputes or conflicts arising out of the present contract shall be settled ing to arbitration rules.?
Specifically, Oregon law mandates that the employer provide written notice that an arbitration agreement is required as a condition of employment and that the employee be presented with the agreement for their signature at least 72 hours (3 days) before their employment begins.
Does the case have any of the following characteristics? The parties have reached their maximum authority for purposes of negotiation. ... The parties want a binding resolution of the matter. The parties believe that the case involves fairly simple legal and/or damage issues.
The statutory scheme for mandatory arbitration is found in ORS 36.400 to 36.425. It applies to civil cases where the only relief claimed is for the recovery of money or damages and the amount claimed is less than $50,000.00, exclusive of attorney fees, costs and disbursements.
A civil case is eligible for a mandatory arbitration if the initial amount sought for damages is less than $50,000.
