Common use of Arbitration Dispute Resolution Clause in Contracts

Arbitration Dispute Resolution. 11.1. Disputes arising out of or related to this Agreement shall be resolved in accordance with this provision. 11.2. In the first instance the parties will attempt to resolve such disputes through the process identified in the applicable section of the Participant Requirements. 11.3. In the event the parties fail to resolve the dispute in the first instance, they agree that the dispute shall be referred to the American Arbitration Association in accordance with its Construction Rules of Arbitration. The arbitrator’s decision shall be final and legally binding and judgment may be entered thereon. 11.4. Each party shall be responsible for its share of the arbitration fees in accordance with the applicable rules of Arbitration. In the event a party fails to proceed with arbitration, unsuccessfully challenges the arbitrator’s decision, or fails to comply with the arbitrator’s decision, the other party is entitled to costs of suit, including a reasonable attorney’s fee for having to compel arbitration or defend or enforce the decision.