Arbitration For Example In King
Category:
State:
Multi-State
County:
King
Control #:
US-00416-1
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement is a legally binding document associated with the purchase of a manufactured home, outlining the process for resolving disputes through arbitration rather than traditional court proceedings. This Agreement is executed alongside a sales contract and acknowledges its governing nature under the Federal Arbitration Act. Key features include stipulations that any disputes related to the purchase, financing, or occupancy of the manufactured home must be resolved via binding arbitration, administered by the American Arbitration Association according to its Commercial Arbitration Rules. The document specifies the required notice for initiating arbitration, potential cost-sharing between parties, and the conditions under which arbitration will occur, such as involving a single arbitrator for claims under twenty thousand dollars and a panel for larger claims. It is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for dispute resolution in a real estate context. The form also emphasizes the importance of clear communication regarding disputes and the mutual waiver of the right to a jury trial, making it essential for professionals involved in real estate transactions to ensure compliance with arbitration procedures.
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