Arbitration is an alternative means of settling a dispute by impartial persons without proceeding to a court trial. It is sometimes preferred as a means of settling a matter in order to avoid the expense, delay, and acrimony of litigation. There is no discovery and there are simplified rules of evidence in arbitration. The arbitrator or arbitrators are selected directly by the parties or are chosen in accordance with the terms of a contract in which the parties have agreed to use a court-ordered arbitrator or an arbitrator from the American Arbitration Association. If there is no contract, usually each party chooses an arbitrator and the two arbitrators select a third to comprise the panel. When parties submit to arbitration, they agree to be bound by and comply with the arbitrators' decision. The arbitrators' decision is given after an informal proceeding where each side presents evidence and witnesses. Arbitration hearings usually last only a few hours and the opinions are not public record. Arbitration has long been used in labor, construction, and securities regulation, but is now gaining popularity in other business disputes.
A North Carolina Agreement to Submit to Arbitration — General is a legal document used to establish an agreement between parties involved in a dispute or potential dispute. It is an alternative to going to court and provides a means of resolving conflicts through arbitration, which is a less formal and more efficient process. Keywords: North Carolina, agreement, submit, arbitration, general, dispute, alternative, court, resolving, conflicts, efficient. There are different types of North Carolina Agreements to Submit to Arbitration — General, including: 1. Commercial Arbitration Agreement: This type of agreement is typically used in business and commercial transactions. It outlines the terms and conditions under which the parties agree to submit any disputes arising from their commercial relationship to arbitration. 2. Employment Arbitration Agreement: This agreement is commonly used in employer-employee relationships. It sets forth the conditions under which employment-related disputes, such as wrongful termination or discrimination claims, will be resolved through arbitration rather than litigation. 3. Construction Arbitration Agreement: Construction projects often involve multiple parties, and disputes can arise regarding contracts, delays, or defects. This agreement specifies that any conflicts related to construction will be settled through arbitration instead of going to court. 4. Consumer Arbitration Agreement: When individuals enter into contracts with businesses, such as purchasing goods or services, a consumer arbitration agreement may be included. This agreement stipulates that any disputes between the consumer and the business will be resolved through arbitration. In each type of Agreement to Submit to Arbitration — General, parties willingly choose arbitration as the method for resolving disputes, agreeing to abide by the decision made by the arbitrator(s). This document ensures that all parties understand and accept the arbitration process, waiving their right to pursue legal action in a traditional court setting. It is important to note that the specific terms and conditions of an Agreement to Submit to Arbitration may vary depending on the nature of the parties' relationship, the industry involved, and the desired arbitration rules or procedures to be followed. Overall, a North Carolina Agreement to Submit to Arbitration — General provides a structured and legally-binding framework for resolving disputes through an alternative means, promoting efficiency and potentially avoiding lengthy court battles.
