This Agreement is to insure that no dispute or controversy directly or indirectly concerning any matter relating to this Operating Agreement shall become the subject of court action, but that any dispute or controversy shall be presented to an Arbitration Panel, except as specifically set forth in this provision. The decision of the panel shall be final and binding as to all Parties and their privies without the right of appeal.
Montana Arbitration
Category:
State:
Multi-State
Control #:
US-OG-694
Format:
Word;
Rich Text
Instant download
Description
How to fill out Arbitration?
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FAQ
At the beginning of each arbitration, the arbitral institution administering the proceedings typically fixes an advance on cost (also called a ?deposit?) to be paid in equal shares by the parties (although, in exceptional circumstances, a separate advance on costs can also be set).
Filing Fee 5 percent of the amount in dispute when the amount is less than $10,000. 7 percent of the amount in dispute for disputes of $10,000 or more with a minimum fee of $100 and a maximum of $5,000.
Usually less expensive Most of the time, but not always the case, arbitration is a lot less expensive than litigation. Arbitration is often resolved much more quickly than court proceedings, so attorney fees are reduced.
Although that may be true in many cases, it certainly is not true in all cases, and quite often arbitration can now be considerably more expensive than litigation. The filing fee and administrative costs typically are higher than the associated filing and administrative costs for bringing a lawsuit in court.
Each party will have costs to conduct their case in arbitration just as they would in court. These costs might include attorneys' fees, costs for expert witnesses, costs to have witnesses travel to the arbitration, costs for copying and presenting exhibits, etc.
Arbitration is an out-of-court method for resolving a dispute between a worker and an employer. Arbitration takes place in front of a neutral decision-maker called an ?arbitrator? (or in some cases, a group or ?panel? of arbitrators) who will listen to each side and make a decision about the case.
Generally, disputes in rem which are regarding a thing or property can't be resolved through arbitration, while disputes in personam regarding a selected person are often.
