Common use of Settlement and Arbitration of Disputes Clause in Contracts

Settlement and Arbitration of Disputes. Any controversy or claim arising out of or relating to this letter agreement or the breach thereof shall be settled exclusively by arbitration in accordance with the laws of the State of Texas by a single arbitrator appointed by the American Arbitration Association in Dallas, Texas. Such arbitration shall be conducted in Dallas, Texas in accordance with the rules of the American Arbitration Association for commercial arbitrations, except with respect to the selection of arbitrators which shall be as provided in this paragraph 9. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.