Common use of Arbitration Provision Clause in Contracts

Arbitration Provision. Unless you have exercised or exercise your right to reject arbitration as described under “Rules for rejecting this arbitration provision” below, the following Arbitration Provision will apply: This section provides that disputes may be resolved by binding arbitration. Arbitration replaces the right to go to court, have a jury trial or initiate or participate in a class action. In arbitration, disputes are resolved by an arbitrator, not a judge or jury. Arbitration procedures are simpler and more limited than in court. This arbitration provision is governed by the Federal Arbitration Act (FAA) and will be interpreted in the broadest way the law will allow. Covered claims Arbitration limits How arbitration works Paying for arbitration fees The final award