Arbitration With Unions In Cook

• Category: Arbitration and Mediation - Arbitration
• State: Multi-State
• County: Cook
• Control #: US-00416-1
• Format: Word; Rich Text

Description

The Arbitration Agreement outlines the procedures for resolving disputes related to the sale, purchase, or occupancy of a manufactured home between purchasers and retailers. It establishes that all claims will be resolved through binding arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules. This agreement mandates that any party wishing to initiate arbitration must provide written notice detailing the claim and the remedy sought. It specifies arbitration procedures based on the amount of the claim, where claims under twenty thousand dollars are heard by a single arbitrator, while those over this amount are heard by a panel of three arbitrators. The document highlights that fees and costs will be shared equally by both parties, and judgment on the arbitrator's award can be entered in court. Importantly, it also requires that any informal dispute resolution process must be allowed before arbitration can commence, and it waives the parties' right to a jury trial. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants engaged in commercial transactions as it provides a clear framework for dispute resolution and compliance with the Federal Arbitration Act.