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.
An Oregon Agreement to Submit to Arbitration — General is a legally binding agreement between parties involved in a dispute, wherein they agree to resolve their differences through arbitration rather than taking the matter to court. This agreement outlines the terms, conditions, and procedures of the arbitration process. Arbitration provides a streamlined and alternative method of resolving disputes, which can be quicker, more cost-effective, and less formal than litigation. It allows the parties to have their case heard by a neutral arbitrator or panel, who will review the evidence and make a decision that both parties agree to abide by. Some relevant keywords associated with an Oregon Agreement to Submit to Arbitration — General may include: 1. Arbitration Clause: An essential component of the agreement, this clause states that the parties agree to submit any disputes arising from their contractual relationship to arbitration. 2. Arbitrator: A neutral third party chosen by both parties or assigned by a designated arbitration organization to hear and decide the case. 3. Arbitration Process: The step-by-step procedures followed during arbitration, including the selection of arbitrators, submission of evidence, and the presentation of arguments. 4. Mediation: In some cases, parties may include a provision for mediation before proceeding to arbitration. Mediation involves the assistance of a neutral mediator to help the parties find a mutually acceptable resolution. 5. Arbitration Award: The final decision or judgment rendered by the arbitrator(s) after evaluating all the evidence and arguments presented in the arbitration. 6. Binding Nature: The agreement emphasizes that the arbitration decision is binding on both parties and enforceable by law. 7. Applicable Law: Specifies the governing law that will be used to interpret and enforce the agreement during the arbitration process. 8. Arbitration Costs: The forgoing of court fees and potential cost savings associated with arbitration compared to a traditional legal case. 9. Confidentiality: A provision ensuring that the arbitration proceedings and any related documents remain confidential, maintaining the privacy of the parties involved. 10. Scope and Limitations: Clearly defines the scope of disputes covered by the agreement and any limitations on the types of claims that can be arbitrated. It is important to note that while the specific terms and provisions may vary, there are no distinct types of Oregon Agreement to Submit to Arbitration — General. It is a general term encompassing various arbitration agreements used in Oregon for resolving disputes.
