What are the requirements for an arbitration agreement?
An example of an AI chatbot conversation about arbitration agreement requirements.
What are the requirements for an arbitration agreement?
An arbitration agreement typically needs to be in writing, clearly state the intention to arbitrate, and define the scope of disputes covered.
Does it need to be signed by both parties?
Yes, for an arbitration agreement to be enforceable, it generally needs to be signed by both parties involved.
Are there any specific clauses that should be included?
Yes, it's advisable to include clauses on the governing law, the arbitration process, and how arbitrators will be selected.
What happens if one party refuses to arbitrate?
If one party refuses to arbitrate, the other party can seek a court order to compel arbitration based on the agreement.
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