This form is an Arbitration Reference Clause usable to compel arbitration in contracts where licensing, patents, or commercial trade secrets are a factor.
Colorado Arbitration Reference Clause
State:
Multi-State
Control #:
US-TS10042A
Format:
Word;
PDF;
Rich Text
Instant download
Description
How to fill out Arbitration Reference Clause?
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FAQ
Arbitration can only take place if both parties have agreed to it. In the case of future disputes arising under a contract, the parties insert an arbitration clause in the relevant contract. An existing dispute can be referred to arbitration by means of a submission agreement between the parties.
Courts will enforce the clause as written unless the clause contains an ambiguity.
Arbitration has four types of functions: resolving contractual disputes between management and labor, addressing interests of different parties in bargaining situations such as public sector labor relations, settling litigated claims through court-annexed programs, and resolving community disputes.
Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.
The Terms of Reference are a contractual instrument signed by the parties and the arbitrators after the arbitral tribunal is constituted. Its main objective is to define the dispute in a clear manner and to evidence the agreement of the parties in regard to procedural matters.
In any event, the takeaway is that when an arbitration clause is to be incorporated by reference, the principal contract should expressly state that fact in order to assure that the arbitration provision will be given full effect.
If you sue your former employer for wrongful termination, for example, the court can award you only monetary damages, ing to Cole and Blankley. By contrast, in addition to (or instead of) awarding damages, an arbitrator could order the company to reinstate you.
Differences, intellectual property rights, personal injury, product liabilities, professional liability, real estate securities, contract interpretation and performance, insurance claim and Banking & non-Banking transaction disputes fall within the jurisdiction of Arbitration.
