South Carolina Agreement to Arbitrate Online
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FAQ
Supreme Court ruling in NN Global The Supreme Court in NN Global, relying, inter alia, on the doctrine of separability, ruled an arbitration agreement to be a separate and distinct contract dehors the substantive agreement, which in itself is not liable to be subjected to any stamp duty payment.
So, when faced with disputes, parties can in almost all instances, agree to submit their disputes to arbitration, even when an arbitration clause was not included in the underlying contract, if any. Existing litigation can be moved to arbitration by the agreement of the parties.
First, any valid arbitration agreement must reflect the conscious, mutual and free will of the parties to resort to arbitration and not to other means of dispute resolution, including State courts. The consent of both parties to submit their dispute to arbitration is the cornerstone of arbitration.
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When there is no express arbitration agreement between the parties as regards to reference of disputes for arbitration, the court cannot refer the parties to arbitration unless there's a written consent by parties by way of joint application or a joint memo or a joint affidavit.
As a form of alternative dispute resolution, arbitration proceedings can either be binding or non-binding. The former simply means the decision is final and enforceable, while the latter that the arbitrator's ruling is advisory and can only be applied if both parties agree to it.
Who Can Arbitrate Disputes? Arbitration can be voluntary (the parties agree to do it) or mandatory (required by law). Most contract arbitration occurs because the parties included an arbitration clause requiring them to arbitrate any disputes "arising under or related to" the contract.
The arbitration agreement is valid only if signed by parties with full civil act capacity, and such parties must be competent, specifically: (i) A person with full civil act capacity is at least 18 years old and does not lose or limit her/his civil act capacity or difficulties in perception, mastery of acts.
Is arbitration legal? 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.