Arbitration With American Home Shield In Palm Beach
Category:
State:
Multi-State
County:
Palm Beach
Control #:
US-00416-1
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement is a crucial document executed alongside an installment or sales contract for the purchase of a manufactured home in Palm Beach. It serves as a binding agreement that mandates arbitration for any disputes related to the sale, purchase, or financing of the home, effectively waiving the parties' rights to a jury trial. The agreement outlines that claims will be resolved through the American Arbitration Association's Commercial Arbitration Rules, ensuring a structured process for dispute resolution. It specifies that claims under $20,000 will be handled by a single arbitrator, while those exceeding this amount will involve a panel of three arbitrators. The agreement also requires written notice to initiate arbitration and acknowledges that all arbitration-related fees will be shared equally between parties. Importantly, the document is beneficial for legal professionals, including attorneys and paralegals, as it delineates the arbitration process, offers clarity on filing requirements, and emphasizes the implications for dispute resolution. The form is essential for owners and associates in the real estate sector who may encounter disputes involving manufactured homes, ensuring they understand their rights and obligations when entering this arbitration process.
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