Submission Agreement Sample With Collateral In Fairfax
Category:
State:
Multi-State
County:
Fairfax
Control #:
US-0010BG
Format:
Word;
Rich Text
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Description
An agreement to arbitrate a dispute that has already arisen is sometimes called a ?ˆ?submission agreement.?ˆ A submission agreement is needed when the parties don?ˆ™t have an existing written contract or a clause in an existing contract that provides that arbitration will be used to settle disputes between them. The submission agreement is used to start the arbitration with the selected arbitrator.
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FAQ
A “submission agreement” (also called an “agreement to arbitrate”) is a written agreement between two parties that establishes the use of arbitration to settle a dispute (or any and all disputes) that may arise between them.
Examples of collateral documents are a security agreement, guarantee and collateral agreement, pledge agreement, deposit account control agreement, securities account control agreement, mortgage, and UCC-1s.
A collateral contract is one where the parties to one contract enter into or promise to enter into another contract. Thus, the two contracts are connected and it may be enforced even though it forms no constructive part of the original contract.