Common use of ARBITRATION PROCEDURES AND COSTS Clause in Contracts

ARBITRATION PROCEDURES AND COSTS. Unless otherwise agreed to in writing by the parties, any such dispute will be (a) brought within one (1) year of the event giving rise to the dispute (except in the case of disputes involving cargo loss or damage, in which case the time limit is set forth in Section 7.3); (b) heard by the arbitrators, if applicable, within sixty (60) days of their selection; (c) decided within thirty (30) days after all evidence and legal arguments have been presented to the arbitrators, if applicable; (d) decided under Ohio and federal transportation law; and (e) held in Dublin, Ohio or other location agreed to by the parties to the dispute. The arbitrator will have the authority to award costs, such as pre-award interest, post-award interest, expert fees and attorneys’ fees as deemed equitable considering the circumstances, the outcome of the arbitration and the conduct of the parties. Subject to the arbitrators’ authority to award costs, each party will bear the costs of the arbitrator selected by such party and will equally share the cost of the third arbitrator (or the single arbitrator, if applicable). Any arbitration award will be final and binding on the parties. Judgment on the award may be entered in any court of competent jurisdiction.