Arbitration Forums Members In Michigan
Category:
State:
Multi-State
Control #:
US-00416-1
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement is a crucial document for arbitration forums members in Michigan, especially when related to the purchase of manufactured homes. It establishes a binding agreement between the purchaser and retailer, evidencing a transaction that falls under the Federal Arbitration Act. This Agreement outlines the process for resolving disputes that arise from the sale, purchase, or financing of homes, requiring arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules. Key features include stipulations about initiating arbitration, the selection of arbitrators, and the sharing of arbitration costs. Importantly, it specifies that claims under twenty thousand dollars will have a single arbitrator, while those over this amount will involve a three-member panel. Legal professionals, such as attorneys, partners, owners, associates, paralegals, and legal assistants benefit from clear instructions on completing and utilizing the form, as it reinforces the importance of arbitration over court trials. Users should be aware of the differences in rights between arbitration and judicial proceedings outlined in this Agreement. Overall, the document serves as a comprehensive tool to navigate conflict resolution in the context of purchasing manufactured homes.
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