This form is a Private Dispute Resolution Clause usable to compel negotiation and mediation prior to arbitration or litigation in contracts where licensing, patents, or commercial trade secrets are a factor.
Alabama Private Dispute Resolution Clause
State:
Multi-State
Control #:
US-TS10042B
Format:
Word;
PDF;
Rich Text
Instant download
Description
How to fill out Private Dispute Resolution Clause?
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FAQ
Even if you don't currently have a dispute with the company, it is a good idea to opt out of the forced arbitration clause to preserve your options. You can always agree later to use an arbitrator to resolve any dispute. Moreover, if you have opted out, you will have more negotiating power if there is a problem.
The dispute resolution clause(s) must provide certainty and set out a clear mechanism for the resolution of a dispute. They need to be more than an agreement to agree to resolve any dispute. They should provide some detail about the dispute resolution process and how this will be undertaken.
Any dispute arising out of or in connection with this contract shall, at first instance, be referred to a mediator for resolution. The parties shall attempt to agree upon the appointment of a mediator, upon receipt, by either of them, of a written notice to concur in such appointment.
In private judging, parties authorize an expert in their legal dispute to resolve the issue. The parties hire a private judge, often a former judge or an attorney. The parties take turns presenting their case to the judge, after which the judge issues a legally binding decision. The court appoints a private judge.
A dispute resolution clause is a critical clause of any contract. It will outline how parties should respond in a dispute and the preferred dispute resolution process and will avoid premature and unnecessary court proceedings.
If there is clear wording in the contract that provides for the survival of the dispute resolution clause in the event of termination, the courts will hold the parties to their contractual bargain and enforce the process.
Mandatory arbitration clauses usually declare that the parties will not litigate their legal problems if a dispute occurs over the contract, such as a breach of contract or business dispute. Instead, the parties agree to arbitration to resolve the dispute.
By signing a contract with a mandatory binding arbitration provision, you agree to resolve any disputes about the contract before an arbitrator who decides the dispute instead of a court. You also may agree to waive other rights, such as your ability to appeal a decision or to join a class action lawsuit.
