This arbitration agreement is executed contemporaneously with, and as an Inducement and consideration for, an Installment or sales contract for the purchase of a manufactured home. It provides that all claims or disputes arising out of or relating in any way to the sale, purchase, or occupancy of manufactured home resolved by binding arbitration administered by the American Arbitration Association ("AAA") under its Commercial Arbitration Rules. This Agreement is an election to resolve claims, disputes, and controversies by arbitration rather than the judicial process. The parties waive any right to a court trial.
Arbitration Definition For Dummies In Miami-Dade
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Miami-Dade
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US-00416-1
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It allows parties to resolve disputes without using a judge or jury. Arbitration is a quicker and less expensive option than litigation.Should you be involved in a dispute, you will need an experienced arbitrator. Arbitration is the most traditional form of private dispute resolution. Arbitration is a binding procedure. This revised code was intended to foster greater understanding of the arbitration process and promote various requirements of due process.