Arbitration is an alternative means of settling a dispute by impartial persons without proceeding to a court trial. It is sometimes preferred as a means of settling a matter in order to avoid the expense, delay, and acrimony of litigation. There is no discovery and there are simplified rules of evidence in arbitration. The arbitrator or arbitrators are selected directly by the parties or are chosen in accordance with the terms of a contract in which the parties have agreed to use a court-ordered arbitrator or an arbitrator from the American Arbitration Association. If there is no contract, usually each party chooses an arbitrator and the two arbitrators select a third to comprise the panel. When parties submit to arbitration, they agree to be bound by and comply with the arbitrators' decision. The arbitrators' decision is given after an informal proceeding where each side presents evidence and witnesses. Arbitration hearings usually last only a few hours and the opinions are not public record. Arbitration has long been used in labor, construction, and securities regulation, but is now gaining popularity in other business disputes.
A Georgia Agreement to Submit to Arbitration — General is a legally binding contract that outlines the terms and conditions for resolving disputes through arbitration in the state of Georgia. The agreement enables parties to bypass traditional court proceedings and opt for arbitration as a means of settling disagreements. Keywords: Georgia, Agreement to Submit to Arbitration, General, arbitration, disputes, contract, terms and conditions, resolving, court proceedings. There are two types of Georgia Agreement to Submit to Arbitration — General that are commonly used: 1. Commercial Arbitration Agreement: This type of agreement applies to commercial disputes between businesses, including contract breaches, partnership disputes, intellectual property issues, and other conflicts arising in the course of business transactions in Georgia. 2. Employment Arbitration Agreement: This agreement is designed for resolving employment-related disputes between employers and employees, such as wrongful termination, discrimination claims, wage disputes, and harassment cases in Georgia. Key elements typically included in a Georgia Agreement to Submit to Arbitration — General are: 1. Parties: The agreement identifies all parties involved in the dispute, such as the claimant, respondent, and any additional parties who might be affected by the resolution. 2. Arbitration Clause: This clause states that all disputes arising from the agreement will be settled through arbitration and not by litigation in courts. 3. Governing Law: The agreement specifies that the laws of Georgia will govern the arbitration process and any subsequent enforcement of the arbitration award. 4. Arbitration Rules: The agreement may specify the arbitration rules and procedures to be followed, such as those provided by the American Arbitration Association (AAA) or the International Chamber of Commerce (ICC). 5. Selection of Arbitrator: The agreement may outline the process for selecting a neutral arbitrator to oversee the proceedings and make a final decision on the dispute. 6. Venue and Language: The agreement may specify the location and language to be used during the arbitration process, typically stating that the proceedings will take place in Georgia and be conducted in English. 7. Confidentiality: The agreement may include a confidentiality clause, ensuring that all information shared during the arbitration process remains confidential and cannot be disclosed to any third parties. 8. Costs and Fees: The agreement may clarify how the costs of the arbitration process will be shared between the parties involved, including arbitrator's fees, administrative expenses, and any other related expenses. 9. Finality of the Award: The agreement may state that the arbitrator's decision will be final and binding, and that the parties involved will waive their right to appeal the award in court. A Georgia Agreement to Submit to Arbitration — General provides parties with a streamlined and efficient alternative to traditional litigation, promoting a faster resolution, cost-effectiveness, and potentially more tailored outcomes. It offers a way to resolve disputes while avoiding the complexities and delays commonly associated with court proceedings in the state of Georgia.
