Common use of Negotiation and Binding Arbitration Clause in Contracts

Negotiation and Binding Arbitration. Any dispute, controversy, or claim (collectively, a "Dispute") between the parties arising out of this Agreement or relating to the subject matter of this Agreement shall be settled using the following procedures as the sole means to resolve the Dispute. A party seeking to resolve the Dispute shall give notice to the other party briefly describing the nature of the Dispute. A meeting will be held between the parties within ten days after the receipt of the notice. The meeting will be attended by individuals with decision making authority regarding the Dispute. If the parties have not resolved the Dispute to the mutual satisfaction of the parties within thirty days following the initiation of the meeting, the parties shall submit the Dispute to binding arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association by a sole arbitrator selected by the parties. The arbitration will be held in Bothell, Washington. Judgment upon the award rendered by the arbitrator may be entered by any court having jurisdiction. The cost of the arbitrator will be shared equally by the parties. At the conclusion of the arbitration, the arbitrator shall indicate a prevailing party. The prevailing party shall be entitled to its attorney's fees and other costs in connection with the arbitration. To the extent this Agreement limits the remedies of any party, the arbitrator shall not have the authority to grant any remedy to any party in excess of the limitations provided in this Agreement. The arbitrator shall have the authority to fashion a remedy including cure of a breach by a party acting in good faith.

Negotiation and Binding Arbitration. Any dispute, controversy, or claim ----------------------------------- (collectively, a "Dispute") between the parties arising out of this Agreement or relating to the subject matter of this Agreement shall be settled using the following procedures as the sole means to resolve the Dispute. A party seeking to resolve the Dispute shall give notice to the other party briefly describing the nature of the Dispute. A meeting will be held between the parties within ten days after the receipt of the notice. The meeting will be attended by individuals with decision making authority regarding the Dispute. If the parties have not resolved the Dispute to the mutual satisfaction of the parties within thirty days following the initiation of the meeting, the parties shall submit the Dispute to binding arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association by a sole arbitrator selected by the parties. The arbitration will be held in Bothell, Washington. Judgment upon the award rendered by the arbitrator may be entered by any court having jurisdiction. The cost of the arbitrator will be shared equally by the parties. At the conclusion of the arbitration, the arbitrator shall indicate a prevailing party. The prevailing party shall be entitled to its attorney's fees and other costs in connection with the arbitration. To the extent this Agreement limits the remedies of any party, the arbitrator shall not have the authority to grant any remedy to any party in excess of the limitations provided in this Agreement. The arbitrator shall have the authority to fashion a remedy including cure of a breach by a party acting in good faith.