Arbitration Agreement - Free Legal Template
This Arbitration Agreement outlines the process for resolving disputes between two parties through binding arbitration. It specifies the scope of disputes covered, the rules and location for arbitration, the finality of the arbitrator's award, and how costs and fees will be allocated. The agreement also includes a governing law clause.
ARBITRATION AGREEMENT
This Arbitration Agreement (hereinafter referred to as the "Agreement") is made and effective on [effective date].
BY AND BETWEEN: | [name of the first party], with an address of [first party address], hereinafter referred to as the “First Party.” |
AND: | [name of the second party], with an address of [second party address], hereinafter referred to as the “Second Party,” collectively referred to as the “Parties.” |
SCOPE OF AGREEMENT
The Parties agree that any and all claims, disputes, or controversies arising out of or relating to [subject matter], whether based on contract, tort, statute, or any other legal or equitable theory, shall be resolved by binding arbitration.
ARBITRATION RULES AND PROCEDURES
The arbitration shall be conducted in accordance with the [arbitration rules] in effect at the time of the arbitration. The arbitration shall be conducted by a single arbitrator selected in accordance with the [arbitration rules].
ARBITRATION LOCATION
The arbitration shall take place in [location] or at such other location as may be mutually agreed upon by the Parties.
ARBITRATION AWARD
The arbitrator shall render a written award stating the reasons for the award. The arbitrator's award shall be final and binding upon the Parties, and judgment may be entered upon the award in any court having jurisdiction thereof.
COSTS AND FEES
The costs and fees of the arbitration, including the arbitrator's fees, shall be borne equally by the Parties, unless otherwise determined by the arbitrator.
GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of [state/country], without giving effect to any choice or conflict of law provision or rule.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.
SUBTENANT | SUBLESSOR |
[signature] | [signature] |
[print name] | [print name] |
[date of signature] | [date of signature] |
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