ARBITRATION
Other Names: Alternative Dispute Resolution • ADR • Dispute Resolution • Dispute Resolution Procedures • Disputes • Arbitration Procedure • Binding Arbitration
Sample Clause Language:
Any dispute, claim or controversy arising out of or relating to this Agreement or the breach, termination, enforcement, interpretation or validity thereof, including the determination of the scope or applicability of this agreement to arbitrate, shall be determined by arbitration in [CITY], [STATE] before [one (1) arbitrator] [three (3) arbitrators]. The arbitration shall be administered by [JAMS] [the American Arbitration Association] [OTHER ARBITRATION FIRM] pursuant to its [NAME OF APPLICABLE RULES] [rules applicable to commercial disputes]. Judgment on the award may be entered in any court having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction[, in which case each party consents to the jurisdiction and venue of the state and federal courts located in CITY, STATE]. [The reasonable attorneys’ fees and costs of the party ultimately prevailing in such dispute shall be borne by the other party.]
Source: ABCO Energy, Inc. (2020, January 24). Form 8-K. Retrieved from SEC EDGAR website http://www.sec.gov/edgar.shtml
Description:
Arbitration clauses require the parties to resolve disputes using arbitration. Arbitration can be administered by an arbitration firm such as JAMS (i.e., “institutional” arbitration) or be conducted by the parties themselves (i.e., “ad-hoc” arbitration). The sample clause here is a short-form version of a clause requiring institutional arbitration.
Common Contracts with this Clause:
- All Commercial Agreements
What you'll see with Lawgood:
Four (4) Alternative Positions
- Short-Form
- Long-Form
- Ad-Hoc
- No Arbitration
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