Arbitration Form Meaning In Pima
Category:
State:
Multi-State
County:
Pima
Control #:
US-00416-1
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement is a legal contract between the purchaser and retailer concerning the purchase of a manufactured home, acknowledging that disputes can be resolved through binding arbitration as per the Federal Arbitration Act. This agreement applies to various claims related to the sale, occupancy, financing, and servicing of the home. Key features include the initiation of arbitration by either party with a written notice and stipulations on the number of arbitrators based on the claim amount. For claims under $20,000, a single arbitrator will handle the case, while claims above that amount will involve a panel of three arbitrators, all of whom must have relevant legal qualifications. The decision from the arbitrator is final and can be enforced by any court. Users must also be aware that participating in this agreement means waiving their right to a jury trial, highlighting the differences in rights between arbitration and court proceedings. This form serves critical utility for attorneys, partners, owners, associates, paralegals, and legal assistants by providing a clear framework for resolving disputes efficiently and outlining the steps required for arbitration proceedings.
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