This arbitration agreement is executed contemporaneously with, and as an Inducement and consideration for, an Installment or sales contract for the purchase of a manufactured home. It provides that all claims or disputes arising out of or relating in any way to the sale, purchase, or occupancy of manufactured home resolved by binding arbitration administered by the American Arbitration Association ("AAA") under its Commercial Arbitration Rules. This Agreement is an election to resolve claims, disputes, and controversies by arbitration rather than the judicial process. The parties waive any right to a court trial.
Arbitration Definition With Example In Travis
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State:
Multi-State
County:
Travis
Control #:
US-00416-1
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Word;
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An arbitration is private and held in a conference room, not a courtroom. Arbitration is the most traditional form of private dispute resolution.Arbitration is a binding procedure. Arbitration is a way of resolving a dispute or disagreement between parties in a working or personal relationship. Arbitration is a legal term that refers to a specific type of Alternative Dispute Resolution ("ADR"). The definition of arbitration is the use of a neutral third party to settle contratual disputes outside of the court system. Arbitration is a contract-based form of binding dispute resolution.