Common use of AND JURY WAIVER Clause in Contracts

AND JURY WAIVER. Any disagree- ment that may persist upon comple- tion of the claims appeal as deter- mined herein, must first be submitted to arbitration. In such cases, the Insured and the Insurer will submit their difference to three (3) arbiters: Each party selecting an arbiter, and the third arbiter to be selected by the arbiters named by the parties herein. In the event of disagreement between the arbiters, the decision will rest with the majority. Either the Insured or the Insurer may initiate arbitration by written notice to the other party demanding arbitration and naming its arbiter. The other party shall have twenty (20) days after receipt of said notice within which to designate its arbiter. The two (2) arbiters named by the parties, within ten (10) days there- after, shall choose the third arbiter and the arbitration shall be held at the place hereinafter set forth ten