The Arbitration Submission Agreement is used when parties have a dispute but no pre-existing arbitration clause, or when they wish to modify their existing arbitration arrangements. This document, governed by U.S. federal and state arbitration laws, specifies the precise terms under which the arbitration will proceed. The agreement typically includes details about the dispute's scope, arbitrator selection, procedural rules, costs, and the binding nature of the award. Unlike pre-dispute arbitration clauses, this agreement is created after a dispute has arisen, allowing parties to tailor the arbitration process to their specific situation.
Arbitration Submission Agreement for the United States
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Key Requirements PROMPT example:
Arbitration Submission Agreement
"I need an Arbitration Submission Agreement for a construction dispute between my company (ABC Construction Ltd) and our subcontractor (XYZ Builders Inc), with specific provisions for technical expert testimony and a fast-track procedure to be completed by March 2025."
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1. Parties: Identification and details of parties entering into the arbitration agreement
2. Background: Context of the dispute and reason for arbitration
3. Definitions: Key terms used throughout the agreement
4. Scope of Arbitration: Specific matters to be submitted to arbitration
5. Appointment of Arbitrators: Process and criteria for selecting arbitrators
6. Arbitration Procedures: Rules and procedures governing the arbitration process
7. Governing Law: Law applicable to the arbitration and reference to Federal Arbitration Act compliance
1. Costs and Fees: Allocation of arbitration costs and legal fees between parties
2. Confidentiality: Provisions for maintaining confidentiality of proceedings and documentation
3. Discovery Provisions: Rules regarding information exchange and discovery process
1. Schedule of Disputed Matters: Detailed list of issues to be arbitrated and specific claims
2. Arbitrator Qualifications: Specific requirements and qualifications for arbitrator selection
3. Procedural Timeline: Proposed schedule and key deadlines for arbitration proceedings
4. Institutional Rules: Applicable arbitration institution rules (if using institutional arbitration)
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