Arbitrage Definition In Real Estate In Contra Costa
Category:
State:
Multi-State
County:
Contra Costa
Control #:
US-00416-1
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement serves as a binding contract between the Purchaser and Retailer regarding the sale of a manufactured home. Specifically, it defines the framework for resolving disputes through arbitration rather than litigation, in efforts to expedite the dispute process while ensuring compliance with the Federal Arbitration Act. Key features include the inclusion of various parties beyond just the Purchaser and Retailer—such as manufacturers and finance entities—who may also engage in arbitration. The form outlines the procedure for initiating arbitration, stipulates the qualifications for arbitrators, and determines costs associated with the arbitration, which are shared equally by the parties involved. Importantly, the Agreement specifies that claims under twenty thousand dollars are arbitrated with a single arbitrator, whereas claims above that threshold require a panel of three arbitrators. Users are advised to consider seeking legal counsel to ensure proper completion and to understand the implications of waiving the right to a jury trial. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants engaged in real estate transactions in Contra Costa, as it provides a structured pathway for dispute resolution that aligns with both federal and state regulations.
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