Arbitration is Binding Sample Clauses
The "Arbitration is Binding" clause establishes that any disputes between the parties must be resolved through arbitration, and the decision reached by the arbitrator is final and legally enforceable. In practice, this means that once an arbitrator issues a ruling, neither party can appeal the decision in court, and both are obligated to comply with the outcome. This clause ensures that disputes are settled efficiently and conclusively, preventing prolonged litigation and providing certainty regarding the resolution process.
Arbitration is Binding. The decision of a majority of the arbitrators shall be binding upon MSC and MPM and shall be enforceable in any court of competent jurisdiction. Such decision and award may allocate the costs of such arbitration to one of the parties, equally or disproportionately between the parties.
Arbitration is Binding. The decisions and awards of the arbitration panel shall be binding, and judgment may be entered thereon in any court having jurisdiction.
Arbitration is Binding. The decision of the arbitrator(s) shall be final and binding upon both parties, and no party shall seek to have the applicable issues litigated rather than arbitrated (except as may be otherwise required by law).
Arbitration is Binding. Judgment upon the award given by the arbitrator may be entered in any court having jurisdiction. The arbitrator's decision is final and binding, except for any right of appeal provided by the FAA.