Professional web page template for Arbitrators in Virginia

Here are the most common mistakes made in the process of drafting arbitration agreements and solutions to avoiding them. Failing to Include a Mediation Provi- Drafting an Incomplete Mediation. Describing Mediation as Non-Bind- Drafting a Med-Arb Provision. Failing to Provide For Injunctive.

Arbitration is similar to going to court, but faster, cheaper and less complex than litigation. If the case settles, an arbitration will last around one year. If the case goes to hearing, an arbitration typically takes 16 months.

A good arbitration provision does not take long to draft. Clarity is essential. Before negotiating an arbitration clause, it is advisable to consider the following: Location of assets where are the other partyʼs assets located now and where are they likely to be located after an award is obtained?

Once the arbitral authority and corresponding rules are selected, the parties should use the model clause recommended by that institution or entity as a starting point for drafting their arbitration clause to ensure that all the elements required to make an arbitration agreement valid, enforceable and effective are

In general, a Request for Arbitration or a Notice of Arbitration must contain the names of each of the parties, the names of the partiesʼ representatives, a description of the dispute giving rise to claims, a statement of the relief sought, a description of the agreement containing the arbitration clause, the choice of

The Scope of the Clause. This section of the clause is critical; it sets the boundaries for which disputes the tribunal is authorised to determine. Choice of Rules. The Number of Arbitrators. Appointing Authority. Choice of Venue. The language of the proceedings. Finality. Exclusion of the right of appeal.

A written agreement to submit any existing controversy to arbitration or a provision in a written contract to submit to arbitration any controversy thereafter arising between the parties is valid, enforceable and irrevocable, except upon such grounds as exist at law or in equity for the revocation of any contract.

All claims and disputes arising under or relating to this Agreement are to be settled by binding arbitration in the state of [insert state in which parties agree to arbitrate] or another location mutually agreeable to the parties. An award of arbitration may be confirmed in a court of competent jurisdiction.