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Binding arbitration means that the parties waive their right to a trial and agree to accept the arbitrator's decision as final. Generally, there is no right to appeal an arbitrator's decision. Non-binding arbitration means that the parties are free to request a trial if they do not accept the arbitrator's decision.
You can compel arbitration as long as you have a valid and enforceable written agreement to force the other party to submit the dispute to arbitration. For instance, if a debt collector sues you, you can file a Motion to Compel Arbitration to avoid going to court or delay the court process.
Under AAA rules, parties to AAA cases agree that the arbitration award can be entered as a judgment in any federal or state court with jurisdiction. This means that the court can enforce it like it was any other court judgment.
Recognition or confirmation of an award is usually sought by filing a petition. The party seeking recognition and enforcement or confirmation of an award must submit to the court a copy of the award and the parties' arbitration agreement.
Under the Federal Act, a party seeking to enforce an arbitration award must do so within one year after the award is made. However, nothing prevents a successful party from seeking to enforce the award immediately upon its issuance.
Yes. The Federal Arbitration Act, or FAA, was passed in 1925 in response to a variety of court decisions that held arbitration agreements unenforceable. This law provides that arbitration agreements are generally valid and enforceable.
Under the Federal Arbitration Act, if a party that has previously signed an agreement containing an arbitration clause attempts to bring a lawsuit in court rather than seeking arbitration, the other party can enforce the arbitration agreement by filing a motion to stay the court proceedings until the arbitration has ...
Businesses that are party to an arbitration agreement governed by Nevada law should understand that a little-known Nevada statute renders these agreements unenforceable if a contract lacks so-called ?specific authorization? indicating that a person affirmatively assented to the arbitration provision itself.