Common use of Binding Arbitration Procedure Clause in Contracts

Binding Arbitration Procedure. The following binding arbitration procedure, except as provided in Subsection 18.4(G) below, shall serve as the exclusive method to resolve a dispute if any Party chooses not to accept the decision of the Neutral Evaluator. The Party requesting binding arbitration shall notify the Neutral Evaluator in writing within three Days of receipt of the Neutral Evaluator’s decision of a request for arbitration. If the Job Order Contractor requests arbitration it shall post a cash bond with the Neutral Evaluator in an amount agreed upon by the Parties or, in the event of no agreement, the Neutral Evaluator shall establish the amount of the cash bond to defray the cost of the arbitration as set forth in Subsection 18.4(M) and the proceeds from the bond shall be allocated in accordance with Subsection 18.4(M) by the Arbitration Panel.

Binding Arbitration Procedure. The following binding arbitration procedure, except as provided in Subsection 18.4(G13.4(G) below, shall serve as the exclusive method to resolve a dispute if any Party party chooses not to accept the decision of the Neutral Evaluator. The Party party requesting binding arbitration shall notify the Neutral Evaluator in writing within three Days of receipt of the Neutral Evaluator’s decision of a request for arbitration. If the Job Order Contractor Construction Manager requests arbitration it shall post a cash bond with the Neutral Evaluator in an amount agreed upon by the Parties or, in the event of no agreement, the Neutral Evaluator shall establish the amount of the cash bond to defray the cost of the arbitration as set forth in Subsection 18.4(M13.4(M) and the proceeds from the bond shall be allocated in accordance with Subsection 18.4(M13.4(M) by the Arbitration Panel.

Binding Arbitration Procedure. The following binding arbitration procedure, except as provided in Subsection 18.4(G13.4(G) below, shall serve as the exclusive method to resolve a dispute if any Party party chooses not to accept the decision of the Neutral Evaluator. The Party party requesting binding arbitration shall notify the Neutral Evaluator in writing within three Days of receipt of the Neutral Evaluator’s decision of a request for arbitration. If the Job Order Contractor requests arbitration it shall post a cash bond with the Neutral Evaluator in an amount agreed upon by the Parties or, in the event of no agreement, the Neutral Evaluator shall establish the amount of the cash bond to defray the cost of the arbitration as set forth in Subsection 18.4(M13.4(M) and the proceeds from the bond shall be allocated in accordance with Subsection 18.4(M13.4(M) by the Arbitration Panel.