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THIS ARBITRATION AGREEMENT made this ________, day of ________,[month] 20 __, by and between ________ [name] of ________ [address], and ________ [name] of ________ [address].
01. Issues. Any and all claims and disputes between the parties arising out of or relating to ________ [name] account, to transactions undertaken on ________ [name] behalf, or to this Agreement shall be submitted to arbitration in accordance with this Paragraph ----------.
02. Terms of Arbitration. All matters subject to arbitration under this Paragraph ---------- shall be brought upon the written notice of one party to the other of a demand for arbitration, including a recitation of the claim or dispute for which arbitration is sought and a specification of the Arbitrator chosen by such party from a list of potential arbitrators prepared by the American Arbitration Association or like organization.
03. Place. All matters subject to arbitration under this Agreement shall be arbitrated in [county, state].
04. Final Award. The award in the arbitration proceeding shall be final and binding on the parties, and judgment on such award may be entered in any court having competent jurisdiction.
05. Fees and Expenses. All fees and expenses connected with the arbitration proceeding, other than counsel fees incurred by either party, if any, shall be shared equally by both parties.
05. Fees and Expenses. The Arbitrators are authorised to award either party a sum to compensate the party for the time and expense of the arbitration if they determine that arbitration was demanded without reasonable cause. In such event, the Arbitrators may also assess the costs of the arbitration proceeding against the party that demanded arbitration. In all other cases, the costs of the arbitration proceeding shall be assessed against the party against whom the arbitration award is determined, or against both parties if the determination is against both.
06. In connection with this Agreement and the transactions contemplated hereby, each party to this Agreement will execute and deliver any additional documents and perform any additional acts that may be necessary or appropriate to effectuate and perform its obligations under this Agreement and the transactions contemplated hereby.
07. Neither of the undersigned parties has made any representations nor promises, other than those contained in this agreement or in some further writing signed by the party making the representation or promise.
08. This Agreement will in all events be construed as a whole, according to its fair meaning, and not strictly for or against a party merely because that party (or the party's legal counsel) drafted the Agreement. The headings, captions, and titles in this legal Agreement are merely for reference and do not define, limit, extend, or describe the scope of this Agreement or any provision herein. Unless the context requires otherwise, (a) the gender (or lack of gender) of all words used in this Agreement includes the masculine, feminine, and neuter, and (b) the word including means including without limitation.
09. Any notice to be given or to be served upon any party hereto must be in writing and may be given by certified or registered mail, but shall be deemed to have been given and received when a certified or registered letter containing such notice, properly addressed with postage prepaid, is deposited with the United States Postal Service. If notice is given in some manner other than by certified or registered mail, it shall be deemed to have been given when delivered to and received by the party to whom it is addressed, Such notices shall be given to the parties hereto at the following addresses:
If to the [Name]:
[city, state, zip]
If to the [Name]:
[city, state, zip]
10. All such notices and communications shall be deemed to have been duly given when delivered by hand, if personally delivered; three (3) business days after deposit in any United States Post Office, postage prepaid, if mailed; when answered back, if faxed; and when receipt is acknowledge. Any party hereto may change its address for purposes of this paragraph by written notice given in the manner provided above.
11. Any exhibits referred to in this Agreement are incorporated herein in their entirety by such reference.
12. The various headings and numbers herein and the grouping of provisions of this Agreement into separate divisions are for the purpose of convenience only and shall not be considered a part hereof. The language in all parts of this Agreement shall in all cases be construed in accordance to its fair meaning as if prepared by all parties to the Agreement and not strictly for or against any of the parties.
Signed this ________ day of ________, 20___.
Signed in the presence of:
[full name and address of witness]