Arbitration Forums Rules In Illinois

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

Description

The Arbitration Agreement outlines the rules and procedures for resolving disputes related to the sale, purchase, or occupancy of manufactured homes under Illinois arbitration forums. It establishes that all claims arising out of the contract will be resolved by binding arbitration, specifically administered by the American Arbitration Association (AAA) under their Commercial Arbitration Rules. Users are instructed on how to initiate arbitration through a written notice, which must include a claim description and remedy sought. The agreement mandates that for claims under twenty thousand dollars, a single arbitrator will handle the case, while claims exceeding that amount require a panel of three arbitrators. Additionally, it clarifies the roles of attorneys, partners, owners, associates, paralegals, and legal assistants in understanding the arbitration process including the importance of the AAA fee schedule and jurisdictional matters. The document supports users in waiving the right to a jury trial and emphasizes that an arbitration decision is final and enforceable in court. Filling and editing instructions include ensuring that all parties acknowledge receipt of the agreement and that details like signatures and dates are properly recorded.