A submission agreement is a contract in which the parties agree to submit a particular existing controversy to arbitration and to abide by the award of the arbitrator or arbitration panel. The agreement is governed by the rules applicable to contracts generally, and consideration is supplied by the mutual covenants of the parties to be bound by the award rendered.
Title: West Virginia Submission to Arbitration of Dispute between Building Construction Contractor and Owner: A Comprehensive Guide Introduction: This article aims to provide a detailed description of the West Virginia submission to arbitration process in resolving disputes between building construction contractors and owners. We will explore the essential information, procedures, and key considerations related to arbitration in West Virginia. Read on to gain a comprehensive understanding of this dispute resolution method. 1. Understanding Arbitration in West Virginia: Arbitration is an alternative dispute resolution mechanism that offers a private, impartial, and formal approach to settling disputes outside of court. It can save time, costs, and maintain confidentiality while allowing both parties to present their cases and reach a binding decision. 2. The West Virginia Uniform Arbitration Act: The West Virginia Uniform Arbitration Act (WV UAA) governs the arbitration process within the state. We will delve into the act's provisions, its applicability, and key regulations to ensure a fair and impartial arbitration process. 3. Grounds for Arbitration: To initiate an arbitration process, it is essential to understand the grounds where parties can submit their dispute to arbitration rather than pursuing litigation. We will explore circumstances under which arbitration proves necessary and the benefits it offers in terms of flexibility, expertise, and privacy. 4. Types of Arbitration: West Virginia recognizes various types of arbitration to accommodate the specific needs of parties involved. This section will discuss common forms such as binding arbitration, non-binding arbitration, voluntary arbitration, and court-annexed arbitration. Understanding the different types will help parties choose the most suitable approach for their dispute. 5. Arbitration Agreement: Before initiating arbitration, parties must establish a valid arbitration agreement detailing the terms and conditions of the process. We will explore crucial elements that must be included in the agreement, such as selection of arbitrators, governing law, procedural rules, and more. 6. Selection of Arbitrators: Choosing the right arbitrator or arbitration panel is crucial for a fair resolution. We will outline the process of selecting arbitrators, their qualifications, and procedures to ensure neutrality and expertise in the construction industry. 7. Arbitration Process Timeline: Delays in dispute resolution can hinder project progress and cause further financial strain. This section will outline the general timeline of the arbitration process, including filing a demand for arbitration, selection of arbitrators, pre-hearing activities, actual hearing, and issuance of the final award. 8. Enforceability of Awards: Once the arbitration process concludes, parties receive an award that resolves their dispute. Here, we will discuss the enforceability of arbitration awards as per the West Virginia law, ensuring that the award has the same weight as a court judgment. 9. Seeking Legal Assistance: Complex construction disputes may require the guidance of legal professionals experienced in West Virginia construction law and arbitration. This section will discuss the importance of seeking legal representation throughout the arbitration process. Conclusion: West Virginia's submission to arbitration of disputes between building construction contractors and owners offers an efficient, cost-effective, and impartial alternative to traditional court litigation. By understanding the various aspects and procedures associated with West Virginia's arbitration process, parties can navigate through conflicts effectively and promote successful outcomes.
