Arbitration With American Home Shield In Chicago
Category:
State:
Multi-State
City:
Chicago
Control #:
US-00416-1
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement outlines the process for resolving disputes related to the sale and financing of manufactured homes through arbitration rather than court proceedings. This agreement is executed alongside an installment or sales contract between the purchaser and retailer, making it legally binding under the Federal Arbitration Act. Key features include stipulations for claims over monetary thresholds, with claims under twenty thousand dollars being arbitrated by a single arbitrator, while claims exceeding this amount require a panel of three arbitrators. It specifies the timeline for initiating arbitration and emphasizes that any disputes must be resolved in accordance with the Commercial Arbitration Rules of the American Arbitration Association. Importantly, the agreement waives the right to a jury trial, highlighting the necessity for all parties to understand the implications of arbitration versus legal proceedings. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a clear framework for managing disputes effectively, ensuring compliance with legal standards, and facilitating smoother transactions in the Chicago area. Users should carefully fill in the required information, including signatures and dates, to ensure the agreement is enforceable.
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