Arbitration Clause

1 minuteread by Gary Huddleston

Arbitration Clause — an alternative dispute resolution clause in a contract that requires the parties to resolve disputes arising out of or concerning the contract through arbitration as opposed to mediation or litigation. Usually, each party appoints an arbitrator. The two arbitrators select a third, or an umpire, and a majority decision of the three becomes binding on the parties in the arbitration proceedings.

1 minuteread by Gary Huddleston

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