Common use of COMPULSORY ARBITRATION Clause in Contracts

COMPULSORY ARBITRATION. Employer and Employee desire to avoid and settle without litigation future disputes which may arise between them relative to this Contract. Accordingly, the parties agree to engage in good faith negotiations to resolve any such dispute. In the event they are unable to resolve any such dispute by negotiation, such dispute shall be submitted to arbitration to take place in Dallas County in the State of Texas in compliance with the Commercial Arbitration Rules of the American Arbitration Association. The arbitration award shall be final and binding upon the parties hereto and may be filed with and enforced by any court of competent jurisdiction.