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In contract law, an arbitration clause is a clause in a contract that requires the parties to resolve their disputes through an arbitration process. Although such a clause may or may not specify that arbitration occur within a specific jurisdiction, it always binds the parties to a type of resolution outside the courts, and is therefore considered a kind of forum selection clause.
In contract law, a forum selection clause (sometimes called a dispute resolution clause, choice of court clause, governing law clause, jurisdiction clause or an arbitration clause, depending on its form) in a contract with a conflict of laws element allows the parties to agree that any disputes relating to that contract will be resolved in a specific forum.
The society has published the Construction Industry Model Arbitration Rules (CIMAR), [2] which since being adopted as the standard by the Joint Contracts Tribunal, have been widely used for dispute resolution in the industry. [3] A less widely used publication is the 100-day Arbitration Rules. [4]
The contract regarding which the dispute exists, must either contain an arbitration clause or must refer to a separate document signed by the parties containing the arbitration agreement. The existence of an arbitration agreement can also be inferred by written correspondence such as letters, telex, or telegrams which provide a record of an ...
Defendant's motion for stay to compel arbitration granted in district court; affirmed on appeal by Second Circuit; certiorari granted: Holding; Challenge to enforceability of contract must be decided by arbitrator when contract has arbitration clause unless challenge is to clause itself. Second Circuit Court of Appeals affirmed.
So-called forced arbitration clauses say that in the event of a dispute, you won't be able to file a class-action suit. Instead, your dispute will be settled one-on-one in a private arbitration forum.