Sample
Arbitration Clause
When parties to a transaction
agree that any disputes arising out of the transaction will
be resolved by arbitration, they should include an appropriate
arbitration clause in the transaction document. If the parties
agree that RMAS will conduct any arbitration, the sample
arbitration clauses below may be helpful. We encourage all
parties to consult qualified counsel before agreeing to
an arbitration clause.
SAMPLE
ARBITRATION CLAUSE (without requirement of mediation first)
To minimize the cost of resolving any disputes, and to expedite
the resolution of any disputes, the parties agree that any
dispute arising out of this agreement shall be resolved
through binding arbitration. The arbitrator shall be Mark
Cohen of Rocky Mountain Arbitration Services, LLC (“RMAS”).
Unless otherwise specified in this agreement the dispute
shall be decided in accordance with the arbitration rules
of RMAS as they exist at the time the Claim is submitted
to RMAS. The current version of those rules may be viewed
at www.rockymountainarb.com. The arbitrator may allocate
all or part of the costs of arbitration, including the arbitrator’s
fees and the costs and attorney’s fees of the prevailing
party, if the arbitrator determines that there is a prevailing
party. In the event Mr. Cohen declines to serve as the arbitrator
for any reason, the parties authorize him to appoint the
arbitrator, and in consideration of his willingness to do
so without charge they release him and RMAS from any liability
for doing so. The parties agree that any arbitration will
be conducted under the rules for (PICK ONLY ONE)
(Internet Arbitration) (Telephonic Hearing) (In Person Hearing).
SAMPLE
ARBITRATION CLAUSE (with requirement of mediation first).
To minimize the cost of resolving any disputes, and to expedite
the resolution of any disputes, the parties agree that any
dispute arising out of this agreement shall first be submitted
to non-binding mediation facilitated by a mediator selected
by the parties, with each party to pay 1/2 the costs of
mediation. If the parties are unable to agree on a mediator,
they authorize Mark Cohen of Rocky Mountain Arbitration
Services, LLC ("RMAS") to appoint the mediator,
and in consideration of his willingness to do so without
charge they release him and RMAS from any liability for
doing so. If the mediation is not successful, the dispute
shall be resolved through binding arbitration, and in that
event the arbitrator shall be Mark Cohen of RMAS. Unless
otherwise specified in this agreement the dispute shall
be decided in accordance with the arbitration rules of RMAS
as they exist at the time the Claim is submitted to RMAS.
The current version of those rules may be viewed at www.rockymountainarb.com.
The arbitrator may allocate all or part of the costs of
arbitration, including the arbitrator's fees and the costs
and attorney's fees of the prevailing party, if the arbitrator
determines that there is a prevailing party. In the event
Mr. Cohen declines to serve as the arbitrator for any reason,
the parties authorize him to appoint the arbitrator, and
in consideration of his willingness to do so without charge
they release him and RMAS from any liability for doing so.
If a party fails to participate in mediation, any other
party may commence arbitration, and in that event the arbitrator
may, in addition to any other relief granted, award actual
damages arising from the party's failure to participate
in mediation, which shall includes costs and attorney's
fees incurred by any other party in attempting to arrange
mediation. The parties agree that any arbitration will be
conducted under the rules for (PICK ONLY ONE)
(Internet Arbitration) (Telephonic Hearing) (In Person Hearing).
