Arbitration Forums Rules In Hennepin

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

Description

The Arbitration Agreement sets forth the rules for arbitration in Hennepin related to disputes arising from contracts for the purchase of manufactured homes. This agreement is integral to the sales contract and is governed by the Federal Arbitration Act, making it binding on both the purchaser and retailer, as well as their successors. Key features include that disputes must be resolved through binding arbitration administered by the American Arbitration Association (AAA) under Commercial Arbitration Rules. Specific filling instructions require parties to send notice of arbitration intent, and the arbitration process varies based on the claim amount. It stipulates that claims under twenty thousand dollars will be arbitrated before a single arbitrator, while larger claims will involve a panel of three. The decision from arbitrators is final and enforceable in court, while each party equally shares arbitration costs. This agreement effectively waives the right to a jury trial and emphasizes that parties will follow distinct arbitration rules. Target audiences such as attorneys, legal assistants, and paralegals can utilize this form to guide clients through arbitration processes, ensuring compliance with procedural requirements and helping in dispute resolution.