Arbitration is form of alternative dispute resolution for disputes outside of Court. Parties to a dispute often agree to refer it to arbitration and agree to be bound by the arbitration award. A third party reviews the evidence in the case and then imposes a decision that is legally binding on both sides and enforceable in the courts.
Arbitration can be either voluntary or mandatory and is a proceeding in which a dispute is resolved by an impartial adjudicator whose decision the parties to the dispute have agreed, or legislation has decreed, will be final and binding.
If you are unsure if your agreement constitutes a binding Arbitration clause, don’t hesitate to contact Van der Meer Attorneys for assistance.