Arbitration Forums Members In New York

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

Description

The Arbitration Agreement serves as a binding contract designed for transactions involving the purchase of manufactured homes in New York, specifically addressing the arbitration processes for disputes. It is particularly useful for parties such as attorneys, partners, owners, associates, paralegals, and legal assistants involved in the sale, financing, and servicing of homes. Key features include a mandate for binding arbitration administered by the American Arbitration Association, requiring written notice to initiate arbitration and stipulating the qualifications of arbitrators. The agreement emphasizes that disputes relating to the sale and financing of the home will be resolved through arbitration rather than court proceedings, thereby waiving rights to a jury trial. It provides for varying arbitration processes based on the value of claims, ensuring a single arbitrator for claims under twenty thousand dollars and a panel of three for larger claims. Additionally, the agreement outlines the responsibilities of the parties involved, including potential fees and costs associated with arbitration, which are shared equally. The agreement also allows for consumer claim inspections by authorized state agencies before arbitration. Overall, this form is crucial for ensuring a streamlined and legally compliant approach to dispute resolution in manufactured home transactions.