When problems and disputes arise, things often escalate to a full-blown legal litigation. These legal proceedings often don’t end up good for both parties. This kind of problem could be easily avoided through an arbitration. Arbitration is a way of resolving these disagreements without going to court.
Arbitration agreements are the means by which companies protect themselves from the hassle of going to court. Chances are you have come across these types of documents. By clicking the “Agree” button on a software download, you have agreed to an arbitration when problems happen in the future. Check out these Sample Agreements to see how it looks like and what goes into it.
Sample Binding Arbitration Agreement
Arbitration Clause in Agreement
Mutual Arbitration Agreement Example
Arbitration Settlement Agreement
Medical Service Arbitration Agreement in PDF
What Is an Arbitration Agreement?
An arbitration agreement is an arrangement between two parties that when misunderstandings and disputes arise in the future, its resolution would be through an arbitration, that is, there will be no filing of lawsuit or going to court. Arbitration agreements can come in many forms. It could be part of a contract or a whole document of its own. There are Employment Arbitration Agreements for employment problems. To avoid disputes on, say, your lease, be sure to check your Lease Agreement Forms. In an arbitration, an arbitrator or mediator is often present to hear the case and make a decision afterward.
Arbitration Versus Litigation
When talking it over in private with the parties involved does not work, the only way to resolve a legal dispute is through a litigation or an arbitration. Each has its own advantage and disadvantages.
- An arbitration is usually over in a few session while a litigation takes longer.
- An arbitration is cheaper than a litigation.
- An arbitration is confidential, so there will be no public records about the dispute.
- An arbitrator’s decision is final while a litigation ruling can still be appealed.
- An arbitration offers a more limited amount of information than a litigation.
Arbitration Submission Agreement
Intercompany Arbitration Agreement
Arbitration Employment Agreement
Private Arbitration Agreement
Standard Arbitration Agreement
Drafting an Effective Arbitration Agreement
An arbitration agreement serves as a protective clause for organizations in case disputes with people they are dealing with happen. Having this agreement saves them from the hassle and the cost of going through a lawsuit. An arbitration agreement can come in many forms. It could be a clause at the bottom of an employment agreement. Look at these Sample Employment Agreements and see some arbitration clauses within. Either way, here are some tips on how to make an effective arbitration agreement.
- Provide a clause that sets out how the arbitrator will be appointed.
- Provide a clause that makes an arbitration mandatory in case disputes happen.
- Make the agreement cover a broader scope by including clauses on all possible disputes.
- Clearly state the location of the arbitration hearing in case it happens.
- Specify a clear time limit for the arbitration process to prevent delays.
- Keep the agreement clear and straightforward so that it will not be found void later on.
A court litigation could easily be avoided by having an effective arbitration agreement. When looking for one to use for yourself, be sure to look at these agreement samples as they have all the right ingredients that make an effective arbitration agreement.
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