Should I include an arbitration clause?

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.

Agree With Arbitration In Contra Costa

Q: What is an example of a good arbitration clause?

&quot;A dispute having arisen between the parties concerning , the parties hereby agree that the dispute shall be referred to and finally resolved by arbitration under the LCIA Rules. The number of arbitrators shall be one/three. The seat, or legal place, of arbitration shall be City and/or Country.

Category:

Arbitration and Mediation - Arbitration

State:

Multi-State

County:

Contra Costa

Control #:

US-0009BG

Format:

Instant download

Description

The Agreement to Arbitrate Online provides a structured framework for parties in Contra Costa to resolve disputes through arbitration rather than litigation. This form outlines the responsibilities of both the Claimant and the Respondent, emphasizing adherence to the rules of the American Arbitration Association. Key features include submission to arbitration by a designated arbitrator, provisions for entering judgment on the arbitration award in competent jurisdiction, and clarity on expenses that the parties will share. The form also stipulates that all communications with the arbitrator occur in writing, ensuring a streamlined process without oral presentations. Additionally, it highlights the legal governing framework and the implications of electronic execution, which is crucial for today's digital interactions. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, providing them with a reliable method to facilitate dispute resolution efficiently and effectively. By using this form, legal professionals can help their clients avoid the complexities and costs of court litigation while ensuring a legally binding arbitration process.

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FAQ

Some potential consequences may include: Breach of Contract: If arbitration is a contractual requirement and one party refuses to participate, they may be in breach of the contract. The non-complying party may be held liable for damages resulting from the breach.

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.

If you include an arbitration clause in your contract, you might want to specify the rules for the arbitration proceeding. You can be vague in your rules. For example, you can simply say that the arbitration is: binding.

The Scope of the Clause. This section of the clause is critical; it sets the boundaries for which disputes the tribunal is authorised to determine. Choice of Rules. The Number of Arbitrators. Appointing Authority. Choice of Venue. The language of the proceedings. Finality. Exclusion of the right of appeal.

Arbitration might be the right choice for some cases. Limited discovery rights and costs might be useful when less is at stake. Arbitration might feel less adversarial, which could be an advantage where ongoing relationships are hoped to be preserved. Arbitration lends some confidentiality.

"A dispute having arisen between the parties concerning , the parties hereby agree that the dispute shall be referred to and finally resolved by arbitration under the LCIA Rules. The number of arbitrators shall be one/three. The seat, or legal place, of arbitration shall be City and/or Country.

If you value the ability to sue and have your case heard in court, opting out may be the right choice. However, if you prefer a potentially quicker and less costly resolution process, staying in the arbitration program might be more beneficial.