Common use of Final Dispute Resolution Clause in Contracts

Final Dispute Resolution. The Subcontractor agrees that all claims, disputes and other matters in question between the Subcontractor and the Contractor arising out of or related to the Subcontract or the breach thereof, except as specifically governed by Paragraph 11.2 above, and except for claims which have been waived by the making and acceptance of final payment, shall be decided by arbitration in accordance with the Construction Industry Arbitration Rules of the American Arbitration Association (the “AAA”) then obtaining, at the sole option of the Contractor. However, should the Subcontractor desire to file a demand for arbitration, it must first provide thirty (30) days advance written notice to the Contractor of its intention to do so, as a further condition precedent to arbitration. Thereafter, the Contractor shall have thirty (30) days to notify Subcontractor that it will accept or reject arbitration of the dispute. If the Contractor notifies Subcontractor that it accepts arbitration of the dispute, the Subcontractor may then, and only then, file its demand for arbitration with the AAA and the arbitration shall occur in the county within Florida where the Project is located. If the Contractor fails to respond within thirty (30) days, or responds and rejects arbitration, then the dispute may be submitted to any court of competent jurisdiction within the county within Florida where the Project is located. The filing of a demand for arbitration by the Contractor shall be deemed an election to arbitrate and shall constitute the exercise of the option of the Contractor to proceed with arbitration. The Contractor may join or consolidate arbitration or litigation with the Owner, Architect, any other Subcontractor, or any other party having an interest in any such arbitration or litigation proceeding. This agreement to arbitrate at the option of Contractor shall be specifically enforceable under applicable law in any court having jurisdiction within the county within Florida where the Project is located. The award rendered by the arbitrator(s) shall be final and judgment may be entered upon it in accordance with the applicable law in any court having jurisdiction thereof within the county within Florida where the Project is located.