Arbitration Forums Rules In Arizona
Category:
State:
Multi-State
Control #:
US-00416-1
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement outlines the arbitration forums rules in Arizona for disputes arising from the sale of a manufactured home. This agreement is part of a sales contract and requires that all claims related to the transaction be resolved through binding arbitration administered by the American Arbitration Association (AAA) under its Commercial Arbitration Rules. It specifies that arbitration can be initiated by either party, and any arbitration concerning claims under twenty thousand dollars will be by a single arbitrator, while claims above that amount will involve a panel of three arbitrators. The arbitrators must be experienced lawyers licensed in the relevant state, and the decision is binding, allowing for court enforcement. Additionally, no actions concerning collateral securing payments under the contract are covered by this agreement, ensuring clarity in legal proceedings. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants handling the sale or financing of homes, providing a structured method for dispute resolution, protecting the parties involved, and ensuring compliance with federal arbitration laws.
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