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 New Hampshire Agreement to Submit to Arbitration — General is a legally binding contract that outlines the terms and conditions for resolving disputes through arbitration in the state of New Hampshire. This agreement is commonly used in various business transactions and contractual relationships to provide an alternate method of dispute resolution outside the traditional court system. Arbitration is a process where a neutral third party, known as an arbitrator, hears both sides of a dispute and makes a final and binding decision. It is often considered a faster, more cost-effective, and less formal alternative to litigation. The New Hampshire Agreement to Submit to Arbitration — General provides a framework for conducting arbitration proceedings, ensuring a fair and impartial resolution. The content of this agreement typically includes: 1. Parties involved: The names and contact details of the parties entering into the agreement are specified. This may include individuals, businesses, or organizations. 2. Arbitration clause: A clear and concise statement indicating that any disputes arising from the underlying contract or agreement will be resolved through arbitration. 3. Selection of arbitrator: The process for selecting an arbitrator or appointing a panel of arbitrators is outlined. This may involve naming specific organizations or arbitration forums from which an arbitrator will be chosen. 4. Arbitration process: Details regarding the procedures and rules to be followed during the arbitration process are outlined. This can include information about the venue, language, and the specific arbitration rules that will govern the proceedings. 5. Scope of the arbitration: The agreement may define the scope of issues subject to arbitration. For example, it may specify that all disputes related to contract performance, interpretation, or validity will be subject to arbitration. 6. Confidentiality: The agreement may include provisions to maintain the confidentiality of arbitration proceedings and any related documents, ensuring that sensitive information remains protected. 7. Enforcement of the award: This section outlines the enforceability of the arbitral award, including any applicable laws or international conventions that govern the recognition and enforcement of arbitration decisions. It is important to note that specific industries or types of contracts may have their own customized New Hampshire Agreement to Submit to Arbitration. For instance, there could be agreements tailored for construction disputes, commercial contracts, employment agreements, or consumer transactions. These specialized agreements would incorporate industry-specific terminology and provisions relevant to the respective field. In conclusion, a New Hampshire Agreement to Submit to Arbitration — General is a contract designed to enable parties to resolve disputes through arbitration instead of going to court. It establishes the framework and guidelines for the arbitration process, ensuring a fair and efficient resolution.
