Arbitrage Definition In Real Estate In Franklin
Category:
State:
Multi-State
County:
Franklin
Control #:
US-00416-1
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement outlines the process for resolving disputes arising from the sale and purchase of a manufactured home in Franklin, adhering to the Federal Arbitration Act. It specifies that all claims related to the home, including construction and financing issues, will be settled through binding arbitration administered by the American Arbitration Association. Key features include the requirement for a written notice to initiate arbitration and the differentiation between claims under and over Twenty Thousand Dollars, dictating the number of arbitrators involved. This form is particularly useful for attorneys, partners, and paralegals who manage legal agreements, as it establishes a clear dispute resolution process, saving time and costs associated with litigation. Owners and associates benefit from understanding their rights under the agreement, while legal assistants can facilitate the filling and editing process. The agreement also emphasizes the waiver of a jury trial, highlighting a fundamental shift in how disputes will be managed, making it essential for all parties to recognize the implications of this choice.
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