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Arbitrators must be approved by the Chief Judge and must be listed on the roster of the American Arbitration Association, the Federal Mediation and Conciliation Service, or a similar reputable arbitration service, or must be lawyers, licensed to practice in the State of Tennessee, and admitted to practice before the ...

In some instances, you may be able to sue if you signed a valid arbitration agreement. While courts generally favor arbitration agreements, they will allow you to file a lawsuit if either you didn't understand your rights or your claims fall outside the arbitration provision's scope.

As a general rule, only strong evidence of duress or fraud are sufficient to invalidate an arbitration clause. It is worth noting that many state courts will to set aside arbitration agreements where the parties have vastly disparate bargaining power (such as between employers and employees).

Is arbitration legal? Yes. The Federal Arbitration Act, or FAA, was passed in 1925 in response to a variety of court decisions that held arbitration agreements unenforceable. This law provides that arbitration agreements are generally valid and enforceable.

There are typically seven stages of the arbitration process: Claimant Files a Claim. Respondent Submits Answer. Parties Select Arbitrators. Parties Attend Initial Prehearing Conference. Parties Exchange Discovery. Parties Attend Hearings. Arbitrators Deliberate and Render a Decision.

Arbitration agreements are presumptively valid, enforceable, and irrevocable in Tennessee (T.C.A. § 29-5- 302(a)).

So do you want an arbitration clause in your contract? If you're a large corporation, you do. If you're contracting with someone around your own size, it's probably a good idea to have an arbitration clause because of the decreased attorney fees usually associated with arbitrations as compared to court cases.

It should state whether a panel of one or three arbitrator(s) is to be selected, and to include the place where the arbitration will occur. If the contract includes a general choice of law clause, it will govern the arbitration proceeding. Its consequences should be carefully thought through.

The Arbitration Agreement All and any disputes or differences arising out of or in connection with this Agreement, or the breach, termination or invalidity thereof shall be finally settled by arbitration. In ance with the UNCITRAL Arbitration Rules. The number of arbitrators shall be one/three.