This arbitration agreement is executed contemporaneously with, and as an Inducement and consideration for, an Installment or sales contract for the purchase of a manufactured home. It provides that all claims or disputes arising out of or relating in any way to the sale, purchase, or occupancy of manufactured home resolved by binding arbitration administered by the American Arbitration Association ("AAA") under its Commercial Arbitration Rules. This Agreement is an election to resolve claims, disputes, and controversies by arbitration rather than the judicial process. The parties waive any right to a court trial.
Arbitration Definition For Dummies In Alameda
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Alameda
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US-00416-1
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Arbitration - A neutral person (arbitrator) hears arguments and evidence from each side and then decides the outcome of the dispute. The parties have the right to reject the award and proceed to trial.Arbitration is essentially a paid private trial, in other words, a method to resolve disputes without going to court. Arbitration is the most traditional form of private dispute resolution. Arbitration is a binding procedure.