Common use of Arbitration Rules and Forum Clause in Contracts

Arbitration Rules and Forum. The Bank and you agree to attempt informal resolution of any dispute arising out of, related to, or in connection with this Agreement, your Account, or the Bank’s services prior to any demand for adjudication of any kind and to notify each other in writing of any such dispute within thirty calendar days of when it arises. The Bank and you further agree that if we cannot solve such dispute informally, any such dispute arising out of, related to, or in connection with this Agreement shall be finally settled in binding arbitration, on an individual basis, in accordance with the American Arbitration Association’s (“AAA”) rules for arbitration of consumer-related disputes. The arbitration will occur, at your election, in the county of your domicile or in California and will be conducted confidentially by a single, neutral arbitrator. The Bank will not seek, and hereby waives all rights it may have under applicable law to recover attorneys' fees and expenses if it prevails in arbitration, unless the arbitrator finds that either the substance of your dispute or the relief sought in your request for arbitration (“Request”) was frivolous or was brought for an improper purpose (as measured by the standards set forth in Federal Rule of Civil Procedure 11(b)). This Agreement evidences a transaction involving interstate commerce and notwithstanding any other provision herein with respect to the applicable substantive law, the Federal Arbitration Act, 9 U.S.C. §1 et seq. (“FAA”) will govern the interpretation and enforcement of this Arbitration Agreement and any arbitration proceedings. Notwithstanding anything to the contrary in this Section, the Bank and you retain the right to seek injunctive or other equitable relief in a court of competent jurisdiction to prevent the actual or threatened infringement or misappropriation of intellectual property rights, including copyrights, trademarks, trade secrets, database rights, and patents. In the event any provision of this Section is deemed invalid or unenforceable, then you agree and understand that the remaining portions of this Arbitration Agreement will remain in full force and effect.