Arbitrage Definition With Reference In Miami-Dade
Category:
State:
Multi-State
County:
Miami-Dade
Control #:
US-00416-1
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement serves as a binding contract between the purchaser of a manufactured home and the retailer, outlining the resolution of disputes through arbitration as stipulated by the Federal Arbitration Act. It is designed for transactions governed by interstate commerce and applies to a broad range of claims relating to the sale, purchase, or occupancy of the home, as well as financing and associated services. The agreement clarifies that any disputes will be resolved by binding arbitration administered by the American Arbitration Association, with specific provisions based on the amount in controversy. For claims below $20,000, arbitration is handled by a single arbitrator, while claims above this threshold necessitate a panel of three. The document directs parties on how to initiate arbitration and includes important deadlines consistent with legal statutes of limitations. Attorneys, partners, owners, associates, paralegals, and legal assistants can use this form to understand the implications of arbitration in disputes, ensure proper compliance with arbitration protocols, and facilitate effective resolutions outside traditional court processes. The agreement also reaffirms that parties waive the right to a jury trial, emphasizing the need for clarity and adherence to the outlined arbitration rules.
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