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 Wisconsin 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 Wisconsin. This agreement is entered into voluntarily by two or more parties who wish to avoid traditional court litigation and prefer a more streamlined and cost-effective method of resolving their disagreements. In this agreement, the parties agree to submit any disputes, claims, or controversies arising out of their contractual relationship to arbitration instead of pursuing litigation. Arbitration is a process where an impartial third party, called an arbitrator, is appointed to listen to both sides of the dispute and make a binding decision. By signing this agreement, the parties acknowledge and accept that arbitration will be the exclusive method for resolving disputes. It ensures that the arbitration process will be conducted in accordance with the laws and regulations specific to Wisconsin. The Wisconsin Agreement to Submit to Arbitration — General may include essential details such as: 1. Identification of the parties: The agreement begins by clearly stating the names and contact information of all the parties involved. 2. Agreement to arbitrate: The agreement includes a clause in which the parties explicitly state their intention to submit any future disputes to arbitration instead of pursuing litigation. 3. Arbitration rules and procedures: The agreement may refer to a specific set of arbitration rules that will govern the arbitration process, such as those provided by the American Arbitration Association (AAA) or another recognized arbitration institution. It outlines the procedures to be followed, including selecting an arbitrator, scheduling hearings, and presenting evidence. 4. Choice of law and venue: The agreement may specify that Wisconsin law will govern the arbitration and determine other procedural aspects. It may also designate a specific location or venue for conducting the arbitration hearings. 5. Confidentiality and privacy: The agreement may include provisions that ensure the confidentiality and privacy of the arbitration process, including the confidentiality of documents and statements produced during the arbitration. Different types of Wisconsin Agreement to Submit to Arbitration may exist based on specific industries or fields, such as employment arbitration agreements or commercial arbitration agreements. However, the "General" designation typically refers to an agreement that can be applied across various areas of law, including commercial, construction, or contractual disputes. In conclusion, a Wisconsin Agreement to Submit to Arbitration — General provides a framework for parties in Wisconsin to resolve disputes through arbitration and establishes the rules and procedures for the arbitration process. It offers a flexible and efficient alternative to traditional litigation and aims to provide a fair and impartial resolution to conflicts between parties.
