Agreement to Arbitrate all Differences Contract Arising Out of a Contract

Document Sample
Agreement to Arbitrate all Differences Contract Arising Out of a Contract Powered By Docstoc
					          Agreement to Arbitrate all Differences Arising out of a Contract

        Agreement made on the (date), between (Name of Company A), a corporation
organized and existing under the laws of the state of ______________, with its principal
office located at (street address, city, state, zip code), referred to herein as Company A,
and (Name of Company B), a corporation organized and existing under the laws of the
state of ______________, with its principal office located at (street address, city, state,
zip code), referred to herein as Company B.
      For and in consideration of the mutual covenants contained in this Agreement,
and other good and valuable consideration, the parties agree as follows:
I.     Matters to be Submitted to Arbitration
       All disputes and controversies of every kind and nature between the parties to
this Agreement arising out of or in connection with that certain Contract (the Contract)
between the parties dated (date), a copy of which is attached hereto as Exhibit A, as to
the existence, construction, validity, interpretation or meaning, performance,
nonperformance, enforcement, operation, breach, continuance, or termination of the
Contract shall be submitted to arbitration pursuant to the procedure set forth in this
II.    Procedure
       A.      Either party may demand such arbitration in writing within (number) days
       after the controversy arises, which demand shall include the name of the
       arbitrator appointed by the party demanding arbitration, together with a statement
       of the matter in controversy.

       B.      Within (number) days after such demand, the other party shall chose an
       arbitrator. If the parties cannot agree on an arbitrator, each party shall select one
       arbitrator and both arbitrators shall then select a third. The third arbitrator so selected
       shall arbitrate said dispute. The arbitration shall be governed by the rules of the
       American Arbitration Association then in force and effect.

       C.     The arbitration costs and expenses of each party shall be borne by that

       D.     The arbitration hearing shall be held at (street address, city, state, zip
       code), on (number) days' notice to the parties.

       E.      The arbitration hearing shall be concluded within (number) days unless
       otherwise ordered by the arbitrator and the award on the hearing shall be made
       within (number) days after the close of the submission of evidence.

       G.     An award rendered by a majority of the arbitrators appointed under this
       Agreement shall be final and binding on all parties to the proceeding during the
       period of this Agreement, and judgment on such award may be entered by either
        party in the highest court, state or federal, having jurisdiction.

III.    Agreement Bars a Lawsuit
        A.     The provisions of this Agreement shall be a complete defense to any suit,
        action, or proceed
Description: Arbitration is a process in which the disputing parties choose a neutral third person, or arbitrator, who hears both sides of the dispute and then renders a decision. Arbitration, however, is unlike litigation in that the parties choose the arbitrator, the proceedings are conducted in a private manner, and the rules of evidence and procedure are informal. Also, in arbitration, the arbitrators tend to be experts in the issues they are called on to decide. Arbitration has been the widest used alternative dispute resolution process in the business world, and would be especially desirable where the parties do not want to litigate an issue, but do want a binding decision.
PARTNER William Glover
I received my B.B.A. from the University of Mississippi in 1973 and my J.D. from the University of Mississippi School of Law in 1976. I joined the firm of Wells Marble & Hurst in May 1976 as an Associate and became a Partner in 1979. While at Wells, I supervised all major real estate commercial loan transactions as well as major employment law cases. My practice also involved estate administration and general commercial law. I joined the faculty of Belhaven College, in Jackson, MS, in 1996 as Assistant Professor of Business Administration and College Attorney. While at Belhaven I taught Business Law and Business Ethics in the BBA and MBA programs; Judicial Process and Constitutional Law History for Political Science Department); and Sports Law for the Department of Sports Administration. I am now on the staff of US Legal Forms, Inc., and drafts forms, legal digests, and legal summaries. I am a LTC and was Staff Judge Advocate for the Mississippi State Guard from 2004-2008. I now serve as the Commanding Officer of the 220th MP BN at Camp McCain near Grenada, MS. I served on active duty during Hurricanes Dennis (July, 2005), Katrina (August, 2005) and Gustav in 2008. I played football at the University of Mississippi in 1969-1971 under Coach John Vaught. I am the author of the Sports Law Book (For Coaches and Administrators) and the Sports Law Handbook for Coaches and Administrators (with Legal Forms),