Arbitration For Example In Salt Lake
Category:
State:
Multi-State
County:
Salt Lake
Control #:
US-00416-1
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement is a legally binding document executed alongside a sales contract for a manufactured home, ensuring that disputes arising from the transaction will be resolved through binding arbitration rather than in court. This Agreement highlights key features such as the governing rules provided by the American Arbitration Association (AAA), stipulating that any disputes should be settled by a single arbitrator for claims under twenty thousand dollars or a panel of three for claims above that threshold. It affirms that both the purchaser and retailer, along with their successors, are equally bound by its terms. Filling out the form requires detailed information from both parties, including a description of the dispute and the remedy sought, and it must be signed by all parties involved. Specific use cases include addressing any disagreements related to purchase, occupancy, or financing issues surrounding the manufactured home, making it particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate transactions. Additionally, the form allows for consumer claim inspections by authorized state agencies, providing a layer of consumer protection before arbitration proceedings begin. Users of this form should be aware that it waives the right to a jury trial, emphasizing the need for a clear understanding of arbitration processes over judicial ones.
Free preview
