Arbitration For Dispute Resolution In North Carolina
Category:
State:
Multi-State
Control #:
US-00416-2
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement outlines a method for resolving disputes in North Carolina through binding arbitration, rather than through the traditional court system. This form requires the parties involved to specify all claims and disputes that will be arbitrated and includes provisions for a written notice of arbitration initiation. A single impartial arbitrator, selected by the parties or an appointed arbitration association, will handle cases requesting relief under a specified amount. The arbitrator's decision, along with a summary of reasoning, will be final and binding, allowing for enforceable judgments. The agreement clarifies that both parties waive their right to a jury trial, acknowledging that arbitration rules are distinct from court rules. This form can be useful for attorneys, partners, owners, associates, paralegals, and legal assistants in ensuring a clear framework for dispute resolution while potentially saving time and legal costs associated with litigation. Users must accurately complete the form and ensure all parties acknowledge receipt for it to be valid and enforceable.
