Arbitration Agreement

 

Arbitration Agreement

 

              The parties, whose names appear below  have reached  an agreement to submit all matters and disputes relating to the dispute described below to binding arbitration before the  Neutral designated below.  The parties do hereby memorialize said agreement and do hereby agree as follows:

 

  1. Rules. The rules of the arbitration will be as agreed upon by the parties. If the parties cannot agree upon the rules of the arbitration then the Neutral will determine the rules, which decision will be binding on the parties.

  2. Fees. The parties shall share, equally, the fees charged by the Neutral, which shall be paid promptly when billed. Counsel for each of the parties acknowledge that it is their individual responsibility to pay the fees charged by the Neutral. Each party will be responsible for VirtualCourthouse filing fees if applicable.If either party fails to make prompt payment of the Neutral’s fee prior to a final decision then the Neutral may enter a default against the party who has failed to pay a fee and add the fee to any judgement.

  3. Binding Decision. Each party expressly agrees to be bound by the decision and award of the Neutral and not to dispute in any way, at law or otherwise, the decision rendered by the Neutral.  Judgment upon the award rendered by the Neutral may be entered by any court having jurisdiction.

  4. Modification. Either party may apply to the Neutral to modify or correct an award, provided that said request shall be delivered to the Neutral in writing, no later than 15 days from the rendering of the Neutral’s decision or award.   If such a request is made, the other party shall respond within 15 days from the date of said request to modify or correct such decision or award.

  5. Payment of Award. The non-prevailing party shall pay to the prevailing party the full amount of the Neutral’s decision and award 30 days from the date of the Neutral’s decision and award and upon expiration of the time provided to request a modification or correction of the award. Should there be any protest to the entry of the Neutral’s award as a judgment against the non-prevailing party which shall be raised by said non-prevailing party, then, and in that event, the prevailing party shall be entitled to judgment for the costs and expenses, including reasonable attorney’s fees, associated with the filing of said petition or request.

  6. Confidentiality. The parties and the Neutral shall keep all of the Information provided through the dispute resolution process confidential and will not disclose that information to any other individual without the express written authorization of all of the parties. Should any party or their agent seek to compel the disclosure of any information by subpoena or other court process then that party shall be responsible for all of the costs of compelling disclosure including reasonable attorney’s fees.

  7. Immunity. The parties acknowledge that the Neutral is immune from any claim, suit or cause of action concerning any action taken as a Neutral. The parties also agree not to call the Neutral as a witness in any subsequent or collateral proceeding. If any party files a claim, suit or cause of action against the Neutral or calls the Neutral as a witness then the Neutral will be entitled to reasonable compensation for time expended as well as reasonable attorneys fees.

 

Neutral Designation:

Neutral Fee:

Dispute Identification:                                                                               

 


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Plaintiff


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Plaintiff Attorney


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Defendant


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Defendant Attorney